Coins kept in exchange, are they safe? - page 20.

Darker45

legendary

Activity: 2576

Merit: 1860

Quote from: olacubic32 on June 15, 2018, 09:21:06 PM

I feel keeping our coins in exchanges, mininize the risk of loosing our coins to wallet hackers.

Hackers are everywhere. If you are not using hard wallets, you are equally exposed to hackers. Even if you are not storing them in the exchanges, you are still exposed to the possibility of hacking. Remember that even MEW, Mist, etc. have hacking histories. If you are only HODLing your coins, you better choose hard wallets. But if you are constantly trading, you have no choice but to keep them in the exchanges. Just install 2FA and keep your passwords and keys away from anyone.

NEERAJ ANAND

member

Activity: 686

Merit: 13

If the exchange has security measures like 2FA then no issue arise as your coins are safe there. Security is the main issue now as every day we hear about hacking attacks. If you want full proof security then hardware wallets are best.

psycox

sr. member

Activity: 658

Merit: 251

Quote from: alexagel82 on September 10, 2018, 11:42:00 PM

For me it's not safe because what if the exchange suddenly goes down you can't your coins anymore that is what I think

Exchange is not entirely safe. and I think it's better if we keep it in our wallet. if we want to sell it we can send it to the exchange. no need to always be stored in exchange

Paha87

jr. member

Activity: 252

Merit: 1

I sometimes keep my coins on exchange, but i do not advise anyone to do same, because there are times some exchanges might get hacked. I do not also allow my coins to stay for too long on exchanges.

leavolnhals

full member

Activity: 770

Merit: 101

Quote from: olacubic32 on June 15, 2018, 09:21:06 PM

I feel keeping our coins in exchanges, mininize the risk of loosing our coins to wallet hackers.

If you have a great value property, you should buy a hard wallet to hold your property. The Ledger Nano S is a hard-earned credit card used by many users and there is no intrusion from the hacker. Its worth $ 150 and that's a price too cheap.

alexagel82

newbie

Activity: 85

Merit: 0

For me it's not safe because what if the exchange suddenly goes down you can't your coins anymore that is what I think

Redg85

jr. member

Activity: 258

Merit: 2

Hello pal. It is really not advisable to put you coins or tokens in an exchange site. Because most of these sites are been hacked before. You can put it there but not for a very long period. Or choose a exchange site that has a strong foundation and that's been trusted for quite some time. But if i were you i wouldn't these sites. Hope this enlightens you. Cheers!

Mrking112

newbie

Activity: 30

Merit: 0

In my opinion, The safest way to store your coins is using a wallet where you hold your private keys.On the other hands some exchange like kucoin, bittrex and binance are safe based on my experience.
Good luck!

Caladonian

hero member

Activity: 1302

Merit: 540

Quote from: bayu7adi on September 10, 2018, 10:00:57 PM

if in large quantities, I think it's safer to store in a personal wallet, especially Wallet Hardware
but if in a small amount, the wallet from the exchanger I think is enough
it makes it easier for us to sell and buy quickly

If you can take the risk then you can store your tokens inside exchange, if the amount is not that large and you don't want being hassled when you need to
exchange it or use it for your trade activity but if you have a valuable coins where you wanted to take an asset for investment, better to have a safe wallet
the one that you have your own control its safe preventing being hacked because even established and well secured exchange don't have any assurance that
hackers won't penetrate them.

cryptobrzy

jr. member

Activity: 123

Merit: 3

SmartFi - EARN, LEND & TRADE

Leaving tokens on exchange when compared to real life is synonymous a person that goes to the market to buy some things and then after purchasing his goods, decides to leave them with the trader he doesn't know personally.
It is irresponsible to say the least and unless you are an active day trader.
Don't ever leave your tokens on an exchange as they ate not safe there.

vina.lugtu

member

Activity: 392

Merit: 11

🚀🚀 ATHERO.IO 🚀🚀

Although exchanges are not advisable for storing coins, I would still prefer using it because of the multiple security verification's before you can access the coin. Google authenticator, login passwrod and email verification are the securities offered by exchanges. For me, its better than private key and encryption password. Also, its less hassle to have the coin there because its ready to be sold any time and no need to transfer from wallet to exchange.

chokomenia

member

Activity: 364

Merit: 10

take & Vote or Become a IoTeX Delegate!

Even the exchanges are not even secured, what if they get hacked? or they decided to close down? I think the best way to secure your coins and kept them safe is to use wallet system because they are decentralized, you just have to guide your private keys.

Adreman23

full member

Activity: 1366

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SOL.BIOKRIPT.COM

Quote from: olacubic32 on June 15, 2018, 09:21:06 PM

I feel keeping our coins in exchanges, mininize the risk of loosing our coins to wallet hackers.

Dont put your all funds in exchanges. Exchanges are hackable. Put only the right amounts of coin you do for trading and always witdraw your profits. Its good if you choose the centralize exchanges with good reputation and has strong security website.

Enzo05

full member

Activity: 938

Merit: 102

Quote from: olacubic32 on June 15, 2018, 09:21:06 PM

I feel keeping our coins in exchanges, mininize the risk of loosing our coins to wallet hackers.

Somehow I agree but it will still depends on the exchanges because there are some factor wherein some exchanges were also attack by hackers so in my opinion only store in exchanges that is really safe and protective from hackers .

MMysterious

sr. member

Activity: 972

Merit: 255

Bear season or just the beginning

Quote from: iljamlnk on September 09, 2018, 04:26:14 PM

I think it's best to keep coins on multiple wallets to reduce the risk of losing everything.

I'd been in crypto for almost 2 years now and I kept my coins in multiple exchange to reduce the risk of losing all of my coins. But Im confident that the exchanges that I use is legit and have the security to protect the funds of their clients. You need to put all the security measurement in order to protect your fund as well and to avoid being hack.

phanthuong

newbie

Activity: 81

Merit: 0

In the past, I used to spend money on a wallet MEW and hacked once. But since I put my coins on Huobi, it's still safe, not lost or hacked. You can rest assured that if the exchanges that were hacked are so many lost, not just you.

ronaldo macus

newbie

Activity: 219

Merit: 0

Crypto is easy to hack, even for you to stay at MEw or exchanges. The best thing to do if you hold a long term is to use a cold wallet: Ledger Nano S Wallet - safe but you can not trade it, just keep it in the wallet.

besun

newbie

Activity: 75

Merit: 0

I think keeping your coins on exchanges is safer when you put your wallet in MEW. The MEW is easy to hack when exposed private key and it does not have 2FA or SMS security

Cris John Pham

jr. member

Activity: 420

Merit: 1

Of course, if it is reputable, quality as Binance, huobi, kucoin, ... is very safe because there are layers of protection, it is difficult to hack. The bad exchanges will not be able to say before

bayu7adi

hero member

Activity: 1470

Merit: 555

dont be greedy

if in large quantities, I think it's safer to store in a personal wallet, especially Wallet Hardware
but if in a small amount, the wallet from the exchanger I think is enough
it makes it easier for us to sell and buy quickly

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