Storing coins on an exchange is never a wise move.
The problem that folks run into though is with trading or arbitrage. Then some coins
have to remain on an exchange ... just the way it is. Figure it as a calculated risk.
It's never a good idea to just leave coins sitting around for no reason though or more
than you really need to keep there.
Topic: Care of security and don't store your coins on exchanges! - page 4. (Read 1492 times)
Owing to the fact coins are being saved on exchanges, exchanges have always been a target hackers, no matter how secure the exchange think it is. At least from Binance we have learnt the truth.
Therefore, it is wise to always keep our funds off exchanges to our wallets as no one can really say what will happen next.
Therefore, it is wise to always keep our funds off exchanges to our wallets as no one can really say what will happen next.
To some extent, I agree with you as the storage of funds on the stock exchange is not the best option since there are many factors that can happen but no one gives you a guarantee that if you keep the funds in your wallet and simply don’t break it and steal your money I think it’s better to just keep funds on top exchanges and just follow the news and in case of problems just withdraw your funds.
In my opinion it is not so, if you leave your assets in hot wallets, it is not really safe even if you own your private key. As for the large floors like binance, when hacked, they will definitely not let users suffer losses.
Some won't believe simply because it hasn't happen to them ,people prefers to learn the hard way ,in the past i was a victim to scam exchanges and I lost few of my coins so a word is enough for the wise
After the 7000 bitcoin case was stolen from binance, I increasingly believed that the exchanger did not have a good security guarantee. although binance provides a "SAFU" guarantee but that is not enough. It is better to save bitcoin assets in the hardware wallet, it is safer and we have full access.
I think you are thinking wrong because you should know that big exchanges are always responsible for ensuring our assets, they don't let us take damage from their mistakes, they will compensate for that loss. In addition, reputable exchanges always set very high security criteria, if they can still be attacked by hackers, I don't think our hard wallet is secure enough to get rid of that problem, and we should remember that storage in hard wallets will not have an insurance policy, loss will be permanent 
I wonder why people still store their coins on exchange knowing fully well that no exchange is safe. Even the best exchange gets hacked. The best you can do is to store your coin its a wallet that you have its private key . No one can acess it expects you
The hack on Binance has really shown that no exchange is safe or rather centralized exchanges are not safe. No matter the exchange, no matter the technology they aims to use secure the exchange, NONE is safe. The only safe place where users or individuals can store their assets is in their personal wallets.
According to my experience even Binance isn't that safe. As you see Binance was hacked recently, so next time consequences could be harder than you think.
Why store your valuable assets on an exchange whiles you have your own very wallet empty? Why ignore your own safety with your encrypted passwords and private keys. If you're not a daily trader, I see no reason for keeping your funds on exchanges which for sure ain't safe.
And now we have another big exchange hack example and that is Binance! The Binance CEO once claimed binance exchange wallet is safer than the hardware wallets and after two months of that tweet, Binance exchange got hacked and 40M USD had stolen! The good thing is the Binance user's funds were not stolen! So, no exchange is not safe to store your coins, be your own bank, buy a hardware wallet and keep strong on your wallet.
After the 7000 bitcoin case was stolen from binance, I increasingly believed that the exchanger did not have a good security guarantee. although binance provides a "SAFU" guarantee but that is not enough. It is better to save bitcoin assets in the hardware wallet, it is safer and we have full access.
Generally, we are holding hold our cryptocurrency in exchanges account, to trade quickly and make more profits. Unfortunately, there is no guarantee in terms of crypto exchanges, if an exchange is hack attacked, we will have regrets, there are many examples. Personally, I do my utmost to hold very little capital in the exchange.
that was the first thing i learned about crypto. never leave more coins than necessary on an exchange. so far i have lost only 0.001 btc through the exchange hacks and luckily not anymore. hope that stays that way.
No matter how busy and day trading that i would do i make sure i don't save any funds on an exchange platform. I have witnessed so many exchanges that have been hacked and i have been a victim actually at cryptopia. No need to open wounds all over again but please don't save your funds on any exchange platform. Binance just got hacked so which other exchange is safe out there, none if you ask me.
Exchanges will not and can not offer 100% security of users funds. At least with the latest hack, it has shown that exchanges are not secure.
It is better we assume security of our funds via using private wallets, this way we remove any iota of unforseen circumstances.
It is better we assume security of our funds via using private wallets, this way we remove any iota of unforseen circumstances.
Isn't binance or coinbase or bittrex pretty much the safest exchanges for storing crypto?
As simple as that just don't trust any platform and deposit your fortunes over there. Withdraw your monies and keep them in a private wallet of which you have total control and less risk from any hack.
Yes it was correct. Before sending anything into wallet flat form make sure to be first clarification software, double check it, name and dev signature. Download only legit and most of people here used without problem anything. Don't trust new software where people don't know about that. 
With the way exchanges are being hacked almost everyday it is not advisable to save your cryptocurrencies on exchanges. It's safe to store your money on your own personal wallet other than an exchange's wallet. They can be compromised at any point in time and this may let you lose your money.
The recent hack in binance despite their reputations attested to this fact that storing huge coins with them is a big risk. Personally that hack looks suspicious to me I guess a security breach on their platform is responsible for the hack. The alternative way of storing or hodling via a hardware wallet or cold wallet will in a long run protect any coin hodler the risk of hacking or stealing those coins.
Actually it is not recommended to save our assets in exchange. Because we must be afraid, one day something unexpected will happen at that exchange. I got information on one channel telegram that Cryptopia is one of the safest places to store our assets. what's that right? I haven't searched further for that.
Jump to: