Coins kept in exchange, are they safe? - page 48.

dark08

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Quote from: EL-NIDO on June 18, 2018, 03:47:40 PM

It is definitely not a good idea to keep your coins in exchanges. It is surely better to keep your coin in wallets. There are some exchanges in the past that have been hacked already. Hardware wallet is really the best. But also be careful always with your private key.

Yes this is right if you are long term investor I suggest to use a ledger nano or hardware wallet to protect your token, dont store your token in any exchange site because anytime it can be hack or run your token, exchange site is only for in and out system.

Selly Arumsari

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Quote from: olacubic32 on June 15, 2018, 08:21:06 PM

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

there is a lot a great exchange with a great protection. but i prefer to just use the offline wallet for keeping the coin, especially for a huge amount. i just use the exchange when i do a trade.

EL-NIDO

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It is definitely not a good idea to keep your coins in exchanges. It is surely better to keep your coin in wallets. There are some exchanges in the past that have been hacked already. Hardware wallet is really the best. But also be careful always with your private key.

chip1994

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HEX: Longer pays better

It's really risky if you're going to store your cryptocurrency on any exchange

. I think you should read news about cryptocurrency then you'll find out so many news related to exchange was hacked althouhg it's a good exchange like Binance also can be hacked Cheesy

. The best way to keep your cryptocurrency safe is store them in a coldstorage wallet like Ledger Grin

Emmy92

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Well most guru says otherwise. In my own opinion, I think it's better holding in a wallet you have control of, which is offline wallet.. Also, if you are holding for long term, Exchange is a no no, as you might be tempted to sell when you see dip..

riksen

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I would not leave them on an exchange myself.
I have my alts on a ledger nano.
This works well. without the ledger nano's you can not get anything from your wallet.
for me, this is the safest way I think.

michael23

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Quote from: Sephire on June 15, 2018, 08:25:16 PM

All Exchanges are not created equal and one can still lose exchange coins due to exchange getting hacked or shutdown due to government regulation or some other reason. So it is useful to keep a good portion of your coins in your own wallet. To reduce the risk, use multiple exchanges and multiple wallets too.

Complete agreement. The only thing that can complement this answer, you can use the hardware wallet to provide more security to your coins, but it is worth noting that it can not store all the coins.

Zadicar

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Quote from: olacubic32 on June 15, 2018, 08:21:06 PM

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

That feeling of yours is completely not right. We might see that exchangers is being commonly used up by traders to store up funds but its being advised for how many times on this forum that keeping big amounts on exchange wallet is not really a good thing or habit to be done. Only store out amounts which are needed for you to trade up.
If you are familiar or do know the recent history of hacked exchangers then you will surely changed up your mind.

Quote from: hamzikwf on June 18, 2018, 03:12:53 PM

I think binance has the best defense, I keep my money there and do not worry about them

Theres nothing on online world which security cant really be breached out no matter how good it is.

hamzikwf

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I think binance has the best defense, I keep my money there and do not worry about them

smoolae

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No, do not hold high amount of coins on exchanges NEVER. I felt losing my funds with Bitgrail. Left my NANO (former XRB) there and discovered one day that I don't have access to them anymore Sad

futuristishe

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Quote from: olacubic32 on June 15, 2018, 08:21:06 PM

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

Of course! The exchange guarantees the safety of your coins! But, this large exchanges! Any little-known exchange might be the risk for storage! The exchange can close!

organelles

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We have hard of the vulnerability of of exchanges to hackers time and again as lots of coins has been stolen from these platforms through hacks, this means that storing coins in these platforms is such a high risk, Its better to store your coins in private wallets, especially hardware wallets where their safety is guaranteed

Fulmand

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Quote from: olacubic32 on June 15, 2018, 08:21:06 PM

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

For me. keeping coins in exchange is quite too risky because we know that this is the common target of hackers, it's okay if this coin is for short-term keeping but for the long-term. it's better to keep in hard wallets, like ledger Nano, I considered it a safe storage.

Oleg12

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It seems to me it is not safe. Exchanges often hack. Constantly storing tokens on the exchange is dangerous

zap2per

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Quote from: BobTrade on June 17, 2018, 07:11:26 PM

My suggestion is to never leave coins in the exchanges. They are a big storage of coins therefore a sensitive target for hackers. Put your coins, specially if large amounts, on electrum wallet (if there is) or ledger and mpve em to exchanges only when you want to trade em. In December 2017 I've lost 13 000$ worth Verge (XVG) in C-CEX echange due to (probably, they said so) external hacker attack. So be smart and don't leave coins too long into exchanges.. they are not the safest place on the planet.

I share your pain.
The exchange had nothing to do with it, that's one big fat lie right there.

BennyK

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Quote from: olacubic32 on June 15, 2018, 08:21:06 PM

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

Keeping coins on exchange site is quite risky as compared to having them on wallet. Exchange sites were made practically to trade tokens, hence store tokens temporarily during the trading sessions. Exchange sites are usually upgraded or under maintenance which can result in refreshing of account especially with exchanges which are not renowned and good. Hackers can also get into exchange sites.
For better security, a hard ware wallet like the Ledger Nano S is a good choice.

BobTrade

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My suggestion is to never leave coins in the exchanges. They are a big storage of coins therefore a sensitive target for hackers. Put your coins, specially if large amounts, on electrum wallet (if there is) or ledger and mpve em to exchanges only when you want to trade em. In December 2017 I've lost 13 000$ worth Verge (XVG) in C-CEX echange due to (probably, they said so) external hacker attack. So be smart and don't leave coins too long into exchanges.. they are not the safest place on the planet.

hall16

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Activity: 112

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Quote from: olacubic32 on June 15, 2018, 08:21:06 PM

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

Not safe. You're not only risk losing your coins to hackers but also the exchange itself may one day suddenly closed down or disappear.

zap2per

newbie

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Quote from: olacubic32 on June 15, 2018, 08:21:06 PM

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

Definitely not my friend.
It's much riskier keeping them on the exchange then in your offline hard/paper wallet. Hackers steel a lot of coins from exchanges lately. Even the exchanges themselves can steal your money if they see fit and you can't do a single thing about it.

Aggioni

newbie

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In my opinion, the main thing is just not to keep all tokens in only one place. Even MEW can be hacked and there is a possibility to lose everything.

Topic: Coins kept in exchange, are they safe? - page 48. (Read 5721 times)