Don't hold your coin on exchange for long time. - page 13.

collins3

member

Activity: 238

Merit: 10

Quote from: The Cryptovator on May 26, 2018, 12:50:43 AM

If you wish to hold some coin then use exchange only for during exchange. Just exchange your coin and transfer on your personal wallet that you have controlled. Specially you can use hardware wallet.
Because many exchange hacked buy hacker. Many people loss their capital by hack.
So please don't hold your coin on exchange for long time.

I believe that the most valuable and safest coin to hold in the long run at this time can only be bitcoin, you can see that the bitcoin price is changing a lot in the past few days, only a small bitcoin adjustment. It also affects the price of altcoin, so in order to invest successfully with low risk then you should invest in bitcoin.

Grayy

member

Activity: 322

Merit: 12

Quote from: wudackprod on June 08, 2018, 01:58:05 PM

I prefer some hold tokens on exchanges Kucoin and HitBTC because they have 2fa authentication and good service to use and sell/buy coins

2FAs ae for your personal safety and thus no one can log into your account without you noticing. But the hackers who steal from exchanges are able to get past security measures and get into the exchanges' hot wallet where they have their funds stored and protected. It's better to withdraw your funds from exchanges if you are not doing any serious trading.

Lecam

sr. member

Activity: 700

Merit: 254

Yes it is better to hold your coin at your own wallet than living it on exchange,
You should really keep your coin at your own wallet specially if it is not a popular one because the exchange could take it out of their system and you couldn't recover it,
I use to hold some of my coins in an exchange and forgot about it for a year then when I visited the exchange it turns out that the coin has been moved out from their system and I couldn't recover my token anymore.

udonmez

sr. member

Activity: 686

Merit: 359

It is the first thing we have to know about cryptocurrency and trading. We can never trust any exchange sites however decentralized exchange site seem to be more secure to hold some coin.

MiXxe

sr. member

Activity: 462

Merit: 250

Quote from: The Cryptovator on May 26, 2018, 12:50:43 AM

If you wish to hold some coin then use exchange only for during exchange. Just exchange your coin and transfer on your personal wallet that you have controlled. Specially you can use hardware wallet.
Because many exchange hacked buy hacker. Many people loss their capital by hack.
So please don't hold your coin on exchange for long time.

We have to make our cryptocurrency safe because this is like a money for us. This is actually equivalent to money. Now if we will not take care of this, your own money that you have invested to but this cryptocurrency will be gone.It is right tat you transfer that to the safest place possible espeially that scammers and hackers tend to be always present and just nearby.

Mr.ZODIAC

member

Activity: 336

Merit: 11

Quote from: wudackprod on June 08, 2018, 01:58:05 PM

I prefer some hold tokens on exchanges Kucoin and HitBTC because they have 2fa authentication and good service to use and sell/buy coins

regarding hitbtc I have some doubts that their administration is honest. Despite the established two-factor auntification, I had unauthorized entries of outsiders. I can not explain it.

wudackprod

full member

Activity: 1316

Merit: 121

I prefer some hold tokens on exchanges Kucoin and HitBTC because they have 2fa authentication and good service to use and sell/buy coins

Kamarah

full member

Activity: 268

Merit: 100

Quote from: The Cryptovator on May 26, 2018, 12:50:43 AM

If you wish to hold some coin then use exchange only for during exchange. Just exchange your coin and transfer on your personal wallet that you have controlled. Specially you can use hardware wallet.
Because many exchange hacked buy hacker. Many people loss their capital by hack.
So please don't hold your coin on exchange for long time.

People can lose their money on exchange when they are careless. Im not a careless person so I do not afraid in holding coins on an exchange. However, I appreciate your opinion, it is not really good to hold a coin on an exchange. Hackers can steal your money or even the exchange decide to steal your money

GelsoAM

member

Activity: 158

Merit: 10

If you are planning to hold coins for quite a long time i recommend you to place it to a hard wallet like and ledger because sometimes exchanges just gets hacked anonymously and it's not quite safe for holdings.

CryptoFlame

newbie

Activity: 13

Merit: 0

Are you guys the real traders or just coin holders? Huh

I have more than 50% of my deposit on 2 biggest exchanges & 2 small ones over a year and dont' have any problems (I fix my profit periodically of course and withdraw it from markets to my wallets). If you don't use any suspicious bots, programs, apps etc - your risk is minimal.

kxp

member

Activity: 144

Merit: 11

Well, the only ones who hold their tokens on exchanges are the real dumb people..
I do not understand why there are still people who really like and feel confortable about having them in there, it is more than risky!

Raffamichaels

full member

Activity: 228

Merit: 100

I agree for not holding the coins in exchange for a long time it's because there are so many hackers should steal your investment/coin it's better to sell it immediately to use in daily needs

BabyBoss

full member

Activity: 462

Merit: 100

Quote from: The Cryptovator on May 26, 2018, 12:50:43 AM

If you wish to hold some coin then use exchange only for during exchange. Just exchange your coin and transfer on your personal wallet that you have controlled. Specially you can use hardware wallet.
Because many exchange hacked buy hacker. Many people loss their capital by hack.
So please don't hold your coin on exchange for long time.

That is only for those long term holder, yes never store your coins in the exchange but if you are trader or day trader it must be in the exchange everyday since you need your coins to trade.

Rano

newbie

Activity: 224

Merit: 0

I finally have bought a Ledger Nano S to store my precious coins like XRP and Neo. Feels great to sleep without worrying to much on losing everything when the exchange gets hacked. I trust exchanges like binance, but still don't want to put so much on it for hodling. Also it keeps me from gambling all my funds when they are on an exchange.

Qvilo1832

newbie

Activity: 3

Merit: 0

what happen if you wallet does get an update of an new vision of an other wallet ... could it get lost in your old vision wallet cause you do update a new one and a what if you lose it what happen then can a get it back ... is it good in a wallet or etc. which is the best for to safetyness thx for some comments hope you got some ....

fenzuijk

newbie

Activity: 56

Merit: 0

Although I do like this, it is not realistic enough. Because most of them are now erc20 tokens, not real project currency, so when the project's main network starts, you need to recharge to the exchange to replace, then you will need to pay the exchange several times.

enwi

full member

Activity: 588

Merit: 101

I think, for daily traders will remain in the exchanger to make a sale and purchase transactions but who only want to sell his coins will certainly soon send a coin again to the personal wallet

okorocrypto

newbie

Activity: 140

Merit: 0

Quote from: Bored Logic on May 26, 2018, 01:16:20 AM

agreed that's why i would say decentralized exchanges are future

But most decentralized exchanges are used as dumping ground... and usually the first place to consider by scam projects. Conditions for listing token in them are not stringent and this is why projects like OTHO could scam their faithful community. How do we solve that?

giarised

full member

Activity: 357

Merit: 102

Quote from: cryptogideon19 on June 07, 2018, 03:12:23 PM

Where did you get that one of a kind NEWS? I think it's not good to see this post in here. I think it's Good to say on here but it's not totally Good.

I think there are some reservations on this point. We need to think over it and then consider the realities and history that helps us to make good decision and observation. The thing is, exchanges should be legit so that you might not have any doubt for their negligence over your loss. Secondly, you must be considering best exchanges because they can either lift you up or just drop down.

vv181

legendary

Activity: 1932

Merit: 1273

It is indeed not recommended to hold a big chunk of cryptocurrencies in the exchange, especially centralized exchange. The possibility of getting hacked is tremendously increased. We better to put it on our own wallet where we fully control the private keys, and for maximum security, it is worth to invest in hardware wallet.

Topic: Don't hold your coin on exchange for long time. - page 13. (Read 1563 times)