Topic: Don't hold your coin on exchange for long time. - page 17. (Read 1563 times)
Really a wise suggestion, the long-held coin's particularly vulnerable to the existence of thieving reconnaissance either by the hacker or the owner of the exchange account.
It is not always the case, as some people do not have access to a secure wallet that can be kept all the time e.g. travellers. So for some holding them on an exchange is fine, but it should be spread out to multiple exchanges so if one is hacked you won't lose everything
I can not understand What is the difficulty for a traveler to have access to the exchange and not have access to his wallet? If someone has one, then there must be another one, too. In any case, keep your money on the exchanger and the exchange is very dangerous, even if these funds are concentrated on several exchangers.
Yes, there are many exchanges, which are turning up as scams. We don’t know when they shut down the business. It is safe to hold your coins on your Myetherwallet followed by safe guidelines in using MEW. and there is a chance to get hacked by the hackers, all the money which is in the exchange will be gone if the website get compromised.
It is advised to transfer your funds to your personal wallet where you only will have complete control about your wallet.
It is advised to transfer your funds to your personal wallet where you only will have complete control about your wallet.
It is not always the case, as some people do not have access to a secure wallet that can be kept all the time e.g. travellers. So for some holding them on an exchange is fine, but it should be spread out to multiple exchanges so if one is hacked you won't lose everything
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.
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.
Many thanks sir. before I also ever lose some of my coins in exchange, I do not feel withdrawal the coins. Since then I did not dare put coins on the exchange. and one more about my bad experience, somehow I copy-paste my btc address in the trezor wallet and I send a btc number to that address. but after I realized because my btc never arrived at my trezor wallet, btc address is changed instead of my trezor wallet that I used earlier. and I checked in his TX history was changed. not the wallet. I suggest to do a wallet check before pressing send button
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 do only barely see for an exchange to be hacked but same as said it would really be possible anytime and if you do make use an exchange to be your wallet of your coins then it would really be risky but still there are people who do make such thing because they can easily trade out actively if those coins are on exchange wallet unlike if you do still need to transfer it into other wallet then it would really cause some delays of your trades. 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.
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.
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.
Hacking attacks are unpredictable and can happen at any time and with any exchange.
It doesn't mean that one should not be engaged in daily trade, it only means that we should store on exchanges that very amount of coins that we would not regret for in case this exchange gets hacked.
Thanks God I've never been in such a situation but I can imagine the feelings of those people who lost millions of dollars due to hack attacks.
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.
Thank for your advice sir and of a truth I have left my coins at poloniex for more than a year now and I never feel risk the capital. Some exchange are save just that it is safer for one to keep his or her coins in offline wallets. Many are looking at the exchange as the most risky way for one to keep coins but to me this is because of the past experienced and we actually needs to correct this perception. 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.
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.
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.
Off course putting anything on the exchangers is very risky. However there are some of the coins which are very volatile and we may need them on the exchangers all the time to swing trade by putting them at the stop-loss order thus it gets locked out. But that much risk is needed. To avoid being hacked or stealing then we should always use all the possible authentication systems that are provided by the exchangers. For example, 2FA, SMS verification, Email Verification. This way we can make it far more strong.
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.
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.
agree with the suggestion but some traders might not have that much fund which they need to buy hardware wallet for so in that case exchange is the only option and If you can take proper care about 2FA and email verification on withdrawals then you are safe to hold your funds on an exchange. But yes if the amount is higher then you must buy a hardware wallet to secure the funds.
Yes,i agree you its not good to hold in longterm way because theres many hackers that can hack you so if you planning to hold in longtetm way its better to keep it in personal wallet that only you can control it and if you keep it in your private key in your wallet its hard to hack that so safety first so that you canot regret someday.
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.
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.
agree with the suggestion but some traders might not have that much fund which they need to buy hardware wallet for so in that case exchange is the only option and If you can take proper care about 2FA and email verification on withdrawals then you are safe to hold your funds on an exchange. But yes if the amount is higher then you must buy a hardware wallet to secure the funds.
Exactly, its not safe at all. if the quantity of your funds and tokens are too high try to minimize the risk by sending tokens to their personal wallet. you can get alot of reward as well in the wallet liking staking and dividend pay but, people are unable to understand and thier all holdings are on exchanges
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 the fact but still I often keep some of my coins on exchanges as I have to do a day trade in sometimes when the market is better and for that I have to need some instant money on my exchange. 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.
But I believe that exchanges are not better place for to store our money for longer time. I often keep them in desktop wallet when I do not need them for trade.
I mostly keep in most secure exchanges but still I feel fear.
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.
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.
Yes, completely agree. That's the most important precaution while trading. If you have the private key, you have the coins. Lost private key, all your investments are lost.
I dont have other choice because my purpose to buy crypto is for day and swing trading, i have to keep all my coins in the exchange. And to minimize the risk i used 4 different exchange, and always turn on all security features. And when i get profit i will withdraw some to the fiat until my capital back full, and use only remaining profit to trade back.
If you don't have any other option the better to use 2FA and IP authorization which can give resistance to the hack but exchanges are in risk of hacked fully in that case these cecurity features won't help us anyway.But now may exchanges are coming with new terms and regulations to avoid hacks like photo verification in Poliniex exchange which can be very helpful but more people are concerned about anonymity too. 
It is certainly not safe to keep your coins on exchanges for a long time. Exchanges can get hacked. Many exchanges have reported hacking in the past. You would lose all your coins if exchanges suffer hacking attack.
These are well known facts and every experienced user by now should have known all security risks.
First important rule is that exchange is not a wallet and this is not its purpose but people very often forget that because keeping coins at exchanges is convenient to them. Keep only the amount you need for trading.
But don't forget keeping coins on exchange exposes you to risk not only to be hacked but also there is the possibility that coins could be misused internaly from the exchange.
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.
it's really true and thank you for this info..newbie like me are make aware because of this sharing idea.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.
-My first conclusion if you don't trade , you have no business leaving anything in there,
-my second opinion is does anyone else sees the irony of centralized exchanges for a decentralized economy?
It is certainly not safe to keep your coins on exchanges for a long time. Exchanges can get hacked. Many exchanges have reported hacking in the past. You would lose all your coins if exchanges suffer hacking attack.
Your view are clearly stated, comprehended, agreed with and should be abided for any rational Trader or Investor. But as much as this does not necessarily affect the Day Traders who are actually using a strong Exchanger and has been long existing there, also to anyone that must just have his transaction done and withdraw the balances back to his personal wallets, I still strongly feel that whenever it is involving a very huge amount of Bitcoin probably, hardwares like Ledger Nano S can be implored for storing of these coins aside prompt and instant Trading at the Exchange.
Hi, I am jr.member I don't hold my coin for long time because every month my need money.but thanks all trader for your information.
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