Don't be fool to keep on exchange, look my name

Not your key not your BTC

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Quote from: Minhxx on June 06, 2023, 06:46:18 PM

That's right, I save my key to the ebook. They will be more secure and not attacked by hackkers
Don't leave assets on exchanges, keep them in your cold wallet.

I am very excited to search your ebook on amazon store next, and when I am luck I found your key there.

Quote from: taufik123 on June 06, 2023, 07:13:50 PM

Quote from: Not your key not your BTC on June 06, 2023, 12:57:57 AM

Binance get sued by the SEC on allegations of violating federal securities laws.
https://twitter.com/coindesk/status/1665739863730135042?s=46&t=qiShzQbMhPt-0IDwGYJ_pQ

Yes, this is trending news at the moment, but as per the facts. The only thing affected is Binance.US, and Binance.com is not affected at all.
That's what CZ said on his Twitter.

I am happy to hear atm, maybe next time .com is the target

taufik123

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Quote from: crunck on June 01, 2023, 08:28:50 PM

But not all exchanges will crash. Do you agree with me that Coinbase is an exchange founded in 2012, and so far, it is doing very well and without any problems? While not all will be as reputable as Coinbase, not all CEXs will collapse. Not to mention we always trust the Ledger and have you seen the rumor about it? Everything will be safe until it collapses.

And Binance initially too, they were strong but when it comes to the SEC there will certainly be some impact on the crypto market.
Likewise, Coinbase might also get some problems. Although it looks strong it is not recommended to store all assets in any CEX, the safest is a personal wallet, Non-Custodial Wallet because it has full control without third parties.

Quote from: Not your key not your BTC on June 06, 2023, 12:57:57 AM

Binance get sued by the SEC on allegations of violating federal securities laws.
https://twitter.com/coindesk/status/1665739863730135042?s=46&t=qiShzQbMhPt-0IDwGYJ_pQ

Yes, this is trending news at the moment, but as per the facts. The only thing affected is Binance.US, and Binance.com is not affected at all.
That's what CZ said on his Twitter.

https://twitter.com/cz_binance/status/1666202238933426178

Quote

Clarification: this could only affects http://Binance.US, IF granted by the court.
It does NOT affect http://Binance.com. Funds are #SAFU

Minhxx

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Quote from: Not your key not your BTC on May 24, 2023, 07:57:57 AM

Not your key, not your BTC

If you save it in the cloud, exchange, or any service online, you don't own your key. It's the same as giving your neck to the executioner. Better to give your wealth to social institutions, war victims, and people who are undernourished than give your wealth to rich people who own the cloud and exchange.

That's right, I save my key to the ebook. They will be more secure and not attacked by hackkers
Don't leave assets on exchanges, keep them in your cold wallet.

Cvetik56

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Quote from: Not your key not your BTC on June 06, 2023, 12:57:57 AM

Binance get sued by the SEC on allegations of violating federal securities laws.
https://twitter.com/coindesk/status/1665739863730135042?s=46&t=qiShzQbMhPt-0IDwGYJ_pQ

Not Your Key Not Your BTC.
Don't keep your crypto on exchange

I think everyone learned that at this point. At least on this forum. Those who didn't can't be fixed.

noormcs5

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Quote from: Not your key not your BTC on May 24, 2023, 07:57:57 AM

Not your key, not your BTC

If you save it in the cloud, exchange, or any service online, you don't own your key. It's the same as giving your neck to the executioner. Better to give your wealth to social institutions, war victims, and people who are undernourished than give your wealth to rich people who own the cloud and exchange.

Most of us, if not all, know that keeping the money is in exchanges is risky as their we do not get the access to the keys. Any Central exchange where we access our funds through username and passwords is always subject to risk as the site can scam or go offline anytime and we can lose our funds.

Any how I found your username unique that is not your keys not your funds (BTC) 🙂

Not your key not your BTC

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Binance get sued by the SEC on allegations of violating federal securities laws.
https://twitter.com/coindesk/status/1665739863730135042?s=46&t=qiShzQbMhPt-0IDwGYJ_pQ

Not Your Key Not Your BTC.
Don't keep your crypto on exchange

crunck

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Quote from: Crypt0Gore on June 01, 2023, 03:15:39 AM

It's a shame that warnings like this still won't stop people from keeping coins on Coinbase and other top exchanges, like how I talked to someone through proximity chat online yesterday and we talked about some new projects for the 2025 bull run, he told me how he has been storing his coins on coinbase for months now, and when I told him how risky this was he said he will move it out once the bull market is about to start, he must have believe that we ars out of the bear market already but he forgets that a top crypto exchange won't warn you if something bad is going to happen, it will just happen very fast and it will be too late to move any assets out of the exchange.

Some people really prefer to see the bad side of things before they learn their lessons.

But not all exchanges will crash. Do you agree with me that Coinbase is an exchange founded in 2012, and so far, it is doing very well and without any problems? While not all will be as reputable as Coinbase, not all CEXs will collapse. Not to mention we always trust the Ledger and have you seen the rumor about it? Everything will be safe until it collapses.

Not your key not your BTC

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Quote from: Latviand on June 01, 2023, 02:19:31 AM

Quote from: Not your key not your BTC on June 01, 2023, 01:08:58 AM

Maybe not yet, they waiting us off guard.

That's such a paranoid outlook although I can share the sentiment, I won't worry too much about my bitcoin lest it's in the whole number or 0.1 territory about the security, probably don't use obscure exchanges and online wallets to store your coins.

I have to worry even if I keep it 1 satoshi because next 2038 bitcoin price to be $1 billion, 1 sat = $10?, I won't lost even 1 sen

Quote from: Crypt0Gore on June 01, 2023, 03:15:39 AM

BOLD

I don't know you bold your post?, because we here can read even your post transparent.

Crypt0Gore

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It's a shame that warnings like this still won't stop people from keeping coins on Coinbase and other top exchanges, like how I talked to someone through proximity chat online yesterday and we talked about some new projects for the 2025 bull run, he told me how he has been storing his coins on coinbase for months now, and when I told him how risky this was he said he will move it out once the bull market is about to start, he must have believe that we ars out of the bear market already but he forgets that a top crypto exchange won't warn you if something bad is going to happen, it will just happen very fast and it will be too late to move any assets out of the exchange.

Some people really prefer to see the bad side of things before they learn their lessons.

bayu7adi

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Quote from: nakamura12 on June 01, 2023, 02:35:40 AM

Not storing your bitcoin in an online exchange is what people should do or what we should recommend especially to newbies. As what op name is "not your key not your btc" explained a lot already. Think about accessing the wallets that contains BTC without the private key or seed phrase is impossible to do so that's why not your key not your btc is a good saying when it comes having some btc in a wallet.

Sure, it is secure for everyone, but sometimes certain individuals require a more flexible system for easier access and trading of our assets. In truth, all methods of storing Bitcoin securely still carry a slight possibility of being hacked. Hence, being overly possessive of our assets is certainly not advisable.

I am not advocating for asset storage solely on exchange wallets, but it is essential to maintain a portion of our assets on an exchange wallet in proportion to our sufficiency. It doesn't need to be substantial; the key is to have it. Personally, I often keep a balance ranging from $10 to $30 in a wallet that I can easily access for the purpose of purchasing something in case I forget to bring my physical wallet or if my balance is insufficient for shopping. You never know when such situations might arise.

nakamura12

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Quote from: Latviand on June 01, 2023, 02:19:31 AM

Quote from: Not your key not your BTC on June 01, 2023, 01:08:58 AM

Quote from: MoonOfLife on May 29, 2023, 07:56:56 AM

For example, Coinbase was founded in 2012 and is still doing well to this day, so not every exchange is going down.

Maybe not yet, they waiting us off guard.

That's such a paranoid outlook although I can share the sentiment, I won't worry too much about my bitcoin lest it's in the whole number or 0.1 territory about the security, probably don't use obscure exchanges and online wallets to store your coins.

Not storing your bitcoin in an online exchange is what people should do or what we should recommend especially to newbies. As what op name is "not your key not your btc" explained a lot already. Think about accessing the wallets that contains BTC without the private key or seed phrase is impossible to do so that's why not your key not your btc is a good saying when it comes having some btc in a wallet.

Latviand

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Quote from: Not your key not your BTC on June 01, 2023, 01:08:58 AM

Quote from: MoonOfLife on May 29, 2023, 07:56:56 AM

For example, Coinbase was founded in 2012 and is still doing well to this day, so not every exchange is going down.

Maybe not yet, they waiting us off guard.

That's such a paranoid outlook although I can share the sentiment, I won't worry too much about my bitcoin lest it's in the whole number or 0.1 territory about the security, probably don't use obscure exchanges and online wallets to store your coins.

tjtonmoy

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In the end, it's our fault for not choosing to keep our assets in private wallet. There are still people who know about all the risks, and yet they choose to ignore it and put their crypto in centralized platforms or online wallets. Also, people easily trust online services so much nowadays that they willingly store their Private key, passwords, personal information in the cloud without any hesitation. This is really concerning. As they say, you will never know the consequences, until it happens to you. So it happens to a point where it is not possible to recover your data and all that you had are lost. I know how scary that could be, because I have already faced it once. Now all my data is stored in hard copy or in a piece of paper and all the crypto hodlings are in private wallets. So everyone should learn to do it before it's too late. Store your information offline and make multiple copies and keep your hodlings in your private wallet. Many of us knows this, but they don't so it yet. So to them, start doing so before it's too late.

peter0425

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Quote from: Not your key not your BTC on May 24, 2023, 07:57:57 AM

Not your key, not your BTC

If you save it in the cloud, exchange, or any service online, you don't own your key. It's the same as giving your neck to the executioner. Better to give your wealth to social institutions, war victims, and people who are undernourished than give your wealth to rich people who own the cloud and exchange.

Your name is more than enough for us to tell what you mean here , but thanks for this mate as there are still many of us here trusted their online wallets and exchange since they have been holding there for years.
not knowing what may come or happen .

we need to be ready for everything that may come across and that is why we need to keep safe our crypto holdings.

jeraldskie11

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Quote from: Ebede on May 29, 2023, 05:47:23 PM

Quote from: Not your key not your BTC on May 24, 2023, 07:57:57 AM

Not your key, not your BTC

If you save it in the cloud, exchange, or any service online, you don't own your key. It's the same as giving your neck to the executioner. Better to give your wealth to social institutions, war victims, and people who are undernourished than give your wealth to rich people who own the cloud and exchange.

This is one of the things that makes some people to lost their bitcoin it because of this online storage of the keys of your wallet because people can be easily fine your private key online and if they have access their private key that means your bitcoin does not belong to you any longer it belong to people that knows the private key because they can be easily removed from one particular wallet to another wallet without the knowledge of the rightful owner of the Bitcoin

Well, I have been using a online wallet but there's no issue's found since the first time I used it. The wallet I used was Electrum, and according to them that both private key and seed phrase is encrypted to protect user's privacy so I think there's no need to worry that much. I think your funds will only be at risk if you let your investment stay in the exchange since you don't have the key and they can control your account if they want. However, I didn't experienced such cases that lost of funds in Binance exchange which is the best exchange out there, but still you must not over confident because it's still possible.

Not your key not your BTC

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Quote from: MoonOfLife on May 29, 2023, 07:56:56 AM

For example, Coinbase was founded in 2012 and is still doing well to this day, so not every exchange is going down.

Maybe not yet, they waiting us off guard.

Ebede

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Quote from: Not your key not your BTC on May 24, 2023, 07:57:57 AM

Not your key, not your BTC

If you save it in the cloud, exchange, or any service online, you don't own your key. It's the same as giving your neck to the executioner. Better to give your wealth to social institutions, war victims, and people who are undernourished than give your wealth to rich people who own the cloud and exchange.

This is one of the things that makes some people to lost their bitcoin it because of this online storage of the keys of your wallet because people can be easily fine your private key online and if they have access their private key that means your bitcoin does not belong to you any longer it belong to people that knows the private key because they can be easily removed from one particular wallet to another wallet without the knowledge of the rightful owner of the Bitcoin

Hypnosis00

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Quote from: Kakmakr on May 28, 2023, 05:40:17 AM

I have learnt that lesson when one of the forum member stored their keys in the cloud a few years ago and someone hacked their account and found his/her keys. Now I see Ledger created a "online" storage feature for the "Seed" or "Private keys" and I see storm clouds gathering for a shit storm!

I will also plead with people not to trust 3rd party services with their keys, not even if it is a regulated Exchange. Use the service to trade (buy and sell) but do not keep it on there for long periods. Tongue

We should have not given them full responsibility for our coins but rather we have to do it instead. Exchanges are just for trading, though we can put our capital there but must not keep it there for a long-time. If we have profit, it should be withdrawn and transferred to our personal wallet for safe keep as these exchanges never guarantee that they will give us back our money if there is something that happens to them (like hacking). In order to avoid worries, therefore, it should have been kept where we think it was safer than these 3rd party wallets. Offline wallets is ideal when holding a lot of Bitcoin or any crypto.

Victorik

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Quote from: maydna on May 28, 2023, 06:25:43 AM

Quote from: Victorik on May 28, 2023, 06:03:44 AM

You can say that again. Personally, I don't save my password, key phrases any on line, no matter the temptation. It is usually very tempting to save those important information online just for easy access, but it is way too dangerous to even give in to that temptation.
It is safer to write on a book and keep out of reach than save on line.

Storing personal things online does not guarantee that they will be safe because many bad incidents have happened to the server where they are stored, causing a lot of important customer data to be hacked. This raises particular concerns for the owners of these data because they submit their personal data to the online storage area, and the online storage area should be responsible for ensuring that the place is always safe even though it is not possible. And I agree to always write in a book and keep it away from curious people. Indeed, the old ways sometimes always work better than the new ways Grin

Yea, when it comes to keeping these kind of information, the old way appears to be the surest way. I seen cases where someone lost all his token because his wallet was hacked and there was absolutely nothing he could do about it.

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Quote from: Obito on May 29, 2023, 02:42:21 AM

Much as like to believe you, most of my crypto is staked so I don't really have any choice but to use exchanges to store my crypto, it's not like they're going to steal everything and most of them are too obsessed with reputation that they're frantic and paranoid of their security and taking care of my coins, maybe this would be a big deal if I have aroun a 1000 bitcoins but no, I only have a fraction so it don't matter to me if they steal my meager stash.

In general, we should not deposit and store too much money on centralized exchanges. But if you want to make profits like staking or trading, you have no choice but to use them. And not all will be scams or will fail like FTX and Mt.gox. For example, Coinbase was founded in 2012 and is still doing well to this day, so not every exchange is going down.

Topic: Don't be fool to keep on exchange, look my name (Read 579 times)