For the love of... don't keep your coins on exchanges

Spoop

newbie

Activity: 101

Merit: 0

Quote from: dogtana on June 20, 2018, 03:33:26 PM

Again we saw an exchange got hacked. There would be nothing to hack there if people didn't keep their coins on exchanges! For the love of Dog (lol), don't keep your coins on exchanges, start practicing safety, this is your investment we are talking about!

LOL People have always been told times without number that they should never keep their coins on exchanges but they never seem to be able to listen to the voice of reason. If exchanges get hacked it is the users who keep their coins on the exchanges that lose their coins since exchanges don't have as much security as wallets so transferring your coins out is easy.q

Ulermom

newbie

Activity: 38

Merit: 0

Now and again you can not promptly offer your coins or tokens on the stock trade and you need to go out on a limb, in spite of the fact that I surmise that all merchants should realize that leaving the cash on the trades is very perilous. It regularly happens that dealers put their coins or tokens at a settled cost available to be purchased and if the purchaser is found, the exchange happens without the support of the merchant. This is very advantageous, so individuals will keep on risking, in light of the fact that wallets in the market are not all the time and everybody trusts that it will sidestep them.

JaekRock

jr. member

Activity: 79

Merit: 1

I'm going into a little bit of a HODLing pattern after doing pretty well on exchanges....taking my earnings out tonight until the next time I want to try to swing some trades. It was fun and I might miss out on early action by not having my coin on the exchange, but the risk is just too high with everything I've seen go on. Be safe out there!

NerdYale

full member

Activity: 276

Merit: 100

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Well it might sound too dumb but I have been also storing my coins in exchanges wherein I was almost got a heart attack when the news about a hacked exchange market. Luckily my coins were not stolen since it was stored as a not so valuable token.

Applechild

member

Activity: 392

Merit: 10

It is a very good point. Exchanges got hacked and sometime beyond hacking, there is the issues of traffic that makes the sites to become slow. The truth is that say for instance I buy coin from the exchange, I dont see any need transferring to my ether wallet because that will mean transferring it back to the exchange before i will be able to sell. All these will cost extra charges at my own expense. We should just pray for good and strong hack-proof exchange sites so we can also have peace of mind knowing our investment is safe. That is why we should support promising and upcoming exchange platform with good project in this regard. one to look out for is Ruby-X among others.

bighok353

newbie

Activity: 102

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Yes, hackers will choose to invade the exchange, but I think it is safer to choose the top exchanges, such as Firecoin, OKEX, if it can be safe in your own wallet.

zauna35

sr. member

Activity: 812

Merit: 287

pretty hard not to keep coins on exchanges if you are a trader..we all know what we need to trade coin to trade..no one is immune from the collapse of the exchange( I agree that not all the capital is there to hold and you have to be smart to choose a place to trade

Chainsmokers

sr. member

Activity: 1372

Merit: 252

Quote from: dogtana on June 20, 2018, 03:33:26 PM

Again we saw an exchange got hacked. There would be nothing to hack there if people didn't keep their coins on exchanges! For the love of Dog (lol), don't keep your coins on exchanges, start practicing safety, this is your investment we are talking about!

yes of course, securing assets that we have is very important. it's useless we work hard if we ourselves can't secure the assets we have. therefore extra security needs to be done to avoid hacking.

Desscount

full member

Activity: 1386

Merit: 101

ComboLabs

Quote from: dogtana on June 20, 2018, 03:33:26 PM

Again we saw an exchange got hacked. There would be nothing to hack there if people didn't keep their coins on exchanges! For the love of Dog (lol), don't keep your coins on exchanges, start practicing safety, this is your investment we are talking about!

so far I have no problem storing altcoins on several exchanges, I think by making security that is tight enough to make it more protected. I have bitcoin and altcoin on hitbtc and binance. there is no problem until now I have kept it for almost a year.

dadanpradana

newbie

Activity: 280

Merit: 0

but if it is to be traded every day it is suitable to be kept on the exchange.
and after trading, immediately return your Bitcoin to the offline wallet.

so that your profit is there and your Bitcoin is not stolen.

Dblue

newbie

Activity: 130

Merit: 0

I don't think that there is anything wrong with keeping your investments in the exchanges though. I think that there are safe enough, and the probability of either them or your wallets to be hacked are the same. Be sure to keep your passwords and other personal info safe and indeed personal, then you are good to go.

cryogencrypto

newbie

Activity: 29

Merit: 0

I agree with what you say. It would be better for you to make good security with coin coins that you have in your personal wallet. do not store it in exchange because there are many hacking cases at this time.

artemdubina88

newbie

Activity: 322

Merit: 0

I myself had an unpleasant situation when hacked account on the exchange and brought $ 2000 I was lucky that the account was not verified and more they could not remove.

Benabod

newbie

Activity: 184

Merit: 0

Well yeah taking risk is part of life but one needs to be safe at the same time by being wise, getting hacked and losing coins can be costly so wouldn't you rather play safe by keeping your investment safe by letting them sit in the wallet

Yujesuma

newbie

Activity: 46

Merit: 0

I took after a portion of this string and it truly matters for us individuals in crypto space we have to abstain from putting away our crypto coins on trades better get an equipment wallet that will guard your coins.

rexxarofmoknathal

sr. member

Activity: 966

Merit: 260

Quote from: 5hoursaday on August 08, 2018, 05:01:49 AM

I don't know what exactly to say about this, but I don't think saving your coins on exchanges are that bad. Maybe it is because I store mine there, but they are just as safe or risky as the wallets themselves. If exchanges can be hacked, wallets can also be hacked. We just hope that the system is strong enough not to get hacked, and keep our details safe.

Thats not entirely true as the chances of losing you money by an exchange getting hacked is much higher than your wallet getting hacked. In addition, it adds the dubiously of the exchanges themselves, so out of exchanges vs the wallet, the wallet is by far the safest.

5hoursaday

newbie

Activity: 127

Merit: 0

I don't know what exactly to say about this, but I don't think saving your coins on exchanges are that bad. Maybe it is because I store mine there, but they are just as safe or risky as the wallets themselves. If exchanges can be hacked, wallets can also be hacked. We just hope that the system is strong enough not to get hacked, and keep our details safe.

briton

member

Activity: 504

Merit: 10

indeed great risks when you save coins in exchange. Because this time the hackers are also increasingly sophisticated. could even be breaking into your account in the exchange. We recommend that you store in a place indeed is completely safe from hackers. You need to be alert to these things.

JaekRock

jr. member

Activity: 79

Merit: 1

Yeah, lots of good wallet options out there. As if trading wasn't risky enough, you have to worry about hacking or exit scams. Still, if you're in the trading game, it's kind of a must to leave some amount of coins on exchanges to be able to do what you need in a timely manner. I only trade with a small amount of my bag ever, and often it will be on 2 different exchanges until I've done what I need. Then back in the wallet unless I'm continuing to trade it...very rarely do I ever have an amount that's not tied up in an order on an exchange. Stay safe everybody!

Dmberum

newbie

Activity: 45

Merit: 0

as I would like to think, on the off chance that it is smarter to keep the cryptographic money resources in the official wallet or cool wallet. In any case, there are circumstances where a few stages are not exceptionally advantageous and secure, so individuals are compelled to keep a portion of their benefits on the trade and If you don't exchange at that point there is no motivation behind why you should leave your coins holding tight the stock knowing completely well that the trade is the objective primary programmer.

Topic: For the love of... don't keep your coins on exchanges (Read 549 times)