Coins kept in exchange, are they safe? - page 41.

Olafs

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Quote from: [ProTrader] on July 05, 2018, 03:08:46 AM

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.

Exchange is more riskier than having your own crypto wallet because exchange is not designed to keep your cryto asset. Learn from the mistakes of others. Many exchange hacked and they didn't refund their funds.

yeah too many clasicall hacked stories, there are too many victims too
i suggest you to buy hardware wallet, it's the safest wallet in crypto world

mercy02

newbie

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If your aim is to hold your coin for long term investment for the better I will advise you to keep that coin in personal wallet that you have own the control of the private key. But if your purpose to make profit from day or swing trading, no other choice you have to keep all coins in exchange, and for you to minimize the risk use more than two different exchange, and turn on all security features. Make sure you choose good and legit exchange like Binance, Bittrex and Poloniex. Okay.

the rise

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That's another alternative to save our Crypto assets, but do not all of our assets are bet on the exchange because the risk is of the same magnitude in comparison we save on the wallet because it is often a troubled exchange because of its security so that hackers can enter on the exchanger is the thing terburukanya if the exchanger not responsible for the loss of assets we have then the losses we will get, we better clear our device from suspicious programs so we calm to keep our assets on the wallet.

palermofc

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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.

Partially wrong. If the exchange is hacked, you can loose your coins as well. Keep your coins in your wallet and make it secure with all security steps.

renemagritte

member

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I don't trust exchanges, but I need to have some coin in exchanges to do trading. But my savings are in my ledger. Hardware wallets are the best imo.

christofyler

newbie

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Keeping coin in exchange is not the best way to save your coin.... Exchange can be hacked anytime, most exchange are been hacked now even the big exchange has been hacked before so I don't think keeping your coin in exchange is a good idea.

natsu01

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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.

It is not bad if we try to keep our coins/funds on crypto exchanges than on our personal wallets. As a crypto trader, we are afraid to be scammed by other crypto users out there that taking advantage with the newbies that are new in trading that's why they prefer to stock their coins in their personal wallets. It is good, if the exchange you are going to stock your coins with are requiring email confirmation, secret key and 2FA Authenticator, so that the scammer/s can't open your accounts unless they have the confirmations.

askmecrypto

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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.

There have been cases earlier like MtGox and other exchanges where your tokens are not really safe. To keep your tokens safe, the best practice is to keep them in a wallet where you have control to the private keys.

Lately, however we are seeing a lot of cases of private keys hacking, the reason being users are getting scammed with phishing websites and other malware attacks.
I personally am using a hardware wallet - Ledger and keeping all compatible tokens there, few of the tokens I have on exchanges but I dont really trust them, so if its a big amount and a long term hold, I move them to my hardware wallet.

aces777

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They are not safe at all. An exchange should not be used as an alternative for wallets, no matter how much you trade you should always keep your coins in your wallet. That way if there is any hack on the exchange you can be sure that your coins are safe away from the exchange. I have seen a lot of people talk about keeping their coins on exchanges, this is not safe.

gensol

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Quote from: frowsiter on July 01, 2018, 02:14:42 PM

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.

Thats the worst idea anyone can have. I dont think its ideal and everyone knows that exchangers are more prone to the hacks these days. We have seen so many example by now. Bitrex, Bitumb, and some moderate range marketplace have been hampered with the hacks all the time. Last year millions of worth NEO were stolen, this year ETH and 30 millions worth of tokes from the bithumb. I guess its enough proof for us that putting out stakes over the exchanger can be dangers move. So better store them safe in the private keys owned wallet.

Seriously that is the worst idea. On the exchange, you have no control of anything and your account could get hacked when you least expect it and this exchange can and will never pay you any compensation. But if your coins are on your wallet, you have rest of mind provided you don't hand over your private key or seed phrase to anyone then your funds are very much safe.

Pintadj

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Not safe on any exchanges..

Memenya

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Quote from: danherbias07 on June 25, 2018, 03:25:46 PM

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.

Now this is one funny wise decision again. Grin

How many times were you hacked? Do you know why you are hacked? Have you ever try to consider that it was your fault because of being careless?

You are risking it more with exchanges. Anytime they can close down and that is when you say goodbye to all your coins without a fight.
Unlike with wallets you are the one keeping it safe. You will just have to be careful with attacks and websites that you are going at.

This is true funny but maybe he is newbi. However i am also newbi but i will not say keeping money in exchange is safer from hackers.
Hackers can hack exchange too so many exchange close because get hack. Or maybe recent issue about exchange hack which make the general price of crypto continue falling. So its not safe to store coin, or token in exchange.

michellee

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you can keep your coins in the exchange for a short time only and I think you don't have to keep your coins for a long time because we don't know if the exchange still run their business or not. it is better to keep your coins in your private wallet and there are many wallets that you can use to save your coins. I think you can use the exchange for doing trading quickly and after you get the profit, you can send it to your private wallet so your coins will be safe.

rdny

full member

Activity: 322

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I think the best way for us to be safe is to retain our coins in our personal wallets. I understand that our wallets can also be hacked, but we must employ strict security measures to prevent such incidents like not providing anyone our private keys.

Marioboro

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I'm not really sure if you should keep your crypto in an exchange. Since there have been many news about exchanges being hacked recently. I think it depends on your intention, if you are trading and is actively using your funds then keep it there, but if your not using it for the longer term, i suggest that you store it in your own personal wallet for safekeeping.

apirmalakas

newbie

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I think it is safe to store your crypto in exchanges. This is because with those large amount that they are handling, they are doing the best that they can to protect themselves from threats like hacking. Also, they have the manpower and resources to hire the best people to help them out in this area.

strauberyg

newbie

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Actually I think it is depends if the coins kept in exchange are safe
because if it is trusted or trustworthy to the public then it is safe and if not it is obvious that is not safe to be trust.

[ProTrader]

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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.

Exchange is more riskier than having your own crypto wallet because exchange is not designed to keep your cryto asset. Learn from the mistakes of others. Many exchange hacked and they didn't refund their funds.

a123uxcz888

newbie

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I don’t think so because there is bad record of this because before many wallets has been hacked by hackers so you should be secure your account and aware of this based on this you should know how to secure your coins then you can get proper answer and solutions.

DabsPoorVersion

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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.

even if its on your wallet or even at any exchanges, as long as there are some hackers, you must stay alert and always keep an eye on it.

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