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Topic: Coins kept in exchange, are they safe? - page 7. (Read 5651 times)

sr. member
Activity: 520
Merit: 250
September 27, 2018, 11:30:26 AM
It's not safe to keep our coins. Your property must be carefully stored with a secure password only if you know it. We worry only that when we store them when prices drop, they lose a lot. That is unavoidable.
the security that we have today is our own task, I think, avoid sites that we don't know and save with our secret password properly, maybe in the future there is a more reliable system in terms of security and comfort in investing
Keeping it on exchange depends on exchange capability and reviews. Join on trusted exchanges but never put all in it. Buy ledger or trezor for security.
sr. member
Activity: 658
Merit: 250
September 27, 2018, 11:28:01 AM
It's not safe to keep our coins. Your property must be carefully stored with a secure password only if you know it. We worry only that when we store them when prices drop, they lose a lot. That is unavoidable.
the security that we have today is our own task, I think, avoid sites that we don't know and save with our secret password properly, maybe in the future there is a more reliable system in terms of security and comfort in investing
copper member
Activity: 168
Merit: 1
September 27, 2018, 11:26:36 AM
I think there is no security in this world. But saving coins in exchange is a step to prevent hacking. I'm sure coins stored in exchange will be safe.
member
Activity: 182
Merit: 13
September 27, 2018, 11:25:24 AM
Depends on the exchange, I trust Binance and Deribit, wouldn't keep them on the other exchanges
member
Activity: 165
Merit: 10
September 27, 2018, 11:24:10 AM
Technically you are not the owner of coins which are kept in exchanges because the addtess doesn't belong to you. So, it's never safe to put your coin on exchange. Also, sometimes exchange may get hacked too.
sr. member
Activity: 784
Merit: 250
September 27, 2018, 11:22:29 AM
This is what I can say, there were exchanges in the past that had been hacked bigtime. Hundreds of millions of dollars worth of coins had been lost. So, your decision are you still going to fully trust exchanges? Consider all aspects. There is no safe exchanges in cryptocurrency.
member
Activity: 111
Merit: 10
September 27, 2018, 11:15:51 AM
I would not tell that coins which we store at the exchanges in safety. But it is also possible to tell that coins which we store at ourselves on purses too are not in safety and they can be taken away from us.
newbie
Activity: 76
Merit: 0
September 27, 2018, 11:13:32 AM
It is a very bad idea. Exchange is only use for trading, not for storage coins. First, you don't know the exchange is scam or not. When you are storing your coins in them, you are taking your own risk. Secondly, the exchange may be hacked and you will lose all your coins. Best example is the coincheck being hacked and lost worth $500million coins and cannot get it back forever. So think twice when you put you coins in exchange.
member
Activity: 378
Merit: 10
September 27, 2018, 11:11:48 AM
I personally think it is not safe to keep your coins in exchanges. Why don't you choose a wallet? There are many trusted wallets out there
full member
Activity: 448
Merit: 100
September 27, 2018, 11:02:44 AM
No place can not be as secure as wallets without an internet connection. The world's largest sexchange, though one day may be bankrupt or attacked - hacked. You may lose your coins..
member
Activity: 273
Merit: 15
September 27, 2018, 11:00:27 AM
I don't think that is safe. It's more safe if you put it on your wallet, cause it's more safer than you just leave you coin on market for avoiding transaction fee Grin
full member
Activity: 672
Merit: 100
September 27, 2018, 10:49:56 AM
I feel keeping our coins in exchanges, mininize the risk of loosing our coins to wallet hackers.

The statement should be, I fell keeping coins on exchanges maximize the risk of loosing our coin to wallet hackers. Having your coin on exchange doesn't minimize any risk at all because its that exchange that can be easily hacked at anytime. Its safe to have your coin in wallet rather than exchange because exchange can be hacked at anytime.
jr. member
Activity: 141
Merit: 1
The World’s First Blockchain Core
September 27, 2018, 10:47:28 AM
I am holding my coins on hardware wallet.I do not think that the tokens or coins that you leave on the exchange have the property of being safe. Hardware wallet always safer than exchanges man.
Only trust yourself. not trust to anyone.
member
Activity: 242
Merit: 10
September 27, 2018, 10:42:55 AM
I feel keeping our coins in exchanges, mininize the risk of loosing our coins to wallet hackers.

Actually both if attacked by hackers, has the same devastating effect on the user. That is why I spread my account in my wallet and in different exchanges. At least when the wallet or exchanges get compromised, the hackers do not get all my assets. Also assets in exchanges allow you to readily trade your coins right away during instant rise of a specific coin.
full member
Activity: 700
Merit: 100
Proof-of-Stake Blockchain Network
September 27, 2018, 10:38:56 AM
If you will store you funds or bitcoin in exchanger it has possible to lost and founder of exchanger will own your money but its already depends if you have a proof that your funds will recover.
legendary
Activity: 2996
Merit: 1054
Leading Crypto Sports Betting & Casino Platform
September 27, 2018, 10:04:58 AM
Besides exchange may be hacked, some altcoins may be delisted from exchanges...
So coins kept in exchange are not safe!
Considering those factors, then that's the risk keeping your coin inside the exchange, it's far better using your own hard wallet all the controls are in your hands you just need to fully secured your device and stay safe against possible hackers, unlike with exchange that you are leaning with their securities and if the site got penetrated all your assets will be gone.
jr. member
Activity: 182
Merit: 1
September 27, 2018, 09:38:09 AM
i think exchange wallets is the same as your online wallets. one thing good in exchanges is that they have more security settings to provide more safety to the wallet holders. just like sms verification, google 2fa factor and email verification, this is so useful and very protective in terms of hacking.
full member
Activity: 1274
Merit: 105
September 27, 2018, 09:17:25 AM
Besides exchange may be hacked, some altcoins may be delisted from exchanges...
So coins kept in exchange are not safe!
full member
Activity: 504
Merit: 100
September 27, 2018, 09:00:36 AM
No! Never ever leave coins or token inside an exchange. Incase they're hacked or they suddenly scam people. You wouldn't able to save your crypto.
I fully support these thoughts, because I also think that in the case of purses that are on stock exchanges, to keep their tokens there, this is not a very good deal, so it seems to me that it would be best not to give away their coins or tokens for long storage to exchanges .
member
Activity: 319
Merit: 10
September 27, 2018, 08:56:32 AM
I feel keeping our coins in exchanges, mininize the risk of loosing our coins to wallet hackers.

Just remember of what happened to EtherDelta. Exchganges were designed for exchanging, not for storing. Moreover, today you may find a lot of handy and reliable solutions for storing your tokens with minimal risk.
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