Topic: For the love of... don't keep your coins on exchanges - page 5. (Read 549 times)
But for trader it will make more easier when doing daily trading. I hope that in the future there is Exchange site which that which has a security system such as online wallet.
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!
What exchange are you talking about? If you are referring to Poloniex, and this probably applies to any other exchange, all you have to do is comply with the rules (sadly, rules like KYC) that they stipulate. As long as you follow these, keep your account active, then you should have less reason to fear exchanges.
Personally, i am KYC-ed on all of the exchanges i have my money on. My portfolio is spread across 3 big exchanges and has been for a year now. No problems here.
I really don't rely on exchanges, I keep my funds on myetherwallet and hardware wallet- You must know that there are several DDOS attack on exchanges- We need alot of exchanges that will fund our crypto coins.
It is difficult to sell if a quick pump happens and you alts are still on some other wallet, but the risk of letting your coins sit in an exchange js still far more dangerous than just being late to a pump.
This is why i don't keep my coins on the exchange just spendable amount. However we can't avoid storing our money out there since we're doing trading we might cashout all the money once we got profit but as a day trader moving those coins and send back to exchange everyday it'll be charged a lot, so the only way is using decentralized exchange.
yes bad news that keeps coming like this really makes the price of BTC is also getting worse, but if there is no balance in our exchange account, how will trading still running? how will the volume rise if there is not something to trade?
more people are actually saving their coins / tokens on exchange in order to instant sell, but if all accounts have no balance so, the volume are dead. and also those exchange wouldn't be interesting.
more people are actually saving their coins / tokens on exchange in order to instant sell, but if all accounts have no balance so, the volume are dead. and also those exchange wouldn't be interesting.
Of course, it is better to store cryptocurrency assets on official wallets or cold wallets. But there are situations that some platforms are not very convenient and secure wallets, so people are forced to store part of their assets on the exchanges.
I don't know why people are so stubborn. Keep your coins safe and away from exchanges. If you are not trading then there is no reason why you should leave your coins hanging in the exchange knowing fully well that exchanges are major targets of hackers
The rational for the argument is typically something along the lines of wanting to have the coins in the exchange so that they're able to make use of the market swings and don't get caught waiting on a transaction to go through while the market rises/crashes. It makes sense in a way, but it's not very intelligent when you consider the risks involved, as we have seen recently.
I don't know why people are so stubborn. Keep your coins safe and away from exchanges. If you are not trading then there is no reason why you should leave your coins hanging in the exchange knowing fully well that exchanges are major targets of hackers
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!
The thing is that cryptocurrency newcomers, and the majorty of people in the cryptosphere, find exchanges (and even web wallets) way more user-friendly than hardware/desktop wallets.And it's obvious (at least for most of us since we've been in the cryptosphere for quite a while now) that exchanges aren't safe, but let's be honest, how many people actually care about safety nowadays? all they want to do is invest and make money, that's what the majority wants to do, and most people don't even keep up to date with cryptocurrency news so I doubt they'll ever know the consequences of keeping ALL your coins in a exchange.
Do you love DOGE coins? It is risky to store cryptos on exchange floors, and you can easily lose the number of cryptos you have. So if you shop on exchange floors on a long-term investment then store at hardware wallets such as Trezor and Ledge Nano S.
Always sage advice, having control of your own private keys is essential to minimise the risk of hacking. At least you can do everything to protect your own investment and not rely on an exchange to keep it safe. I tend to keep some of mine on exchanges for quick trades, but the majority are tucked away on cold wallets. I don't personally have an account on Bithumb, but $31 million was a good sized haul for the hackers.
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!
I really hope that some exchanges would offer multiple wallets that are really offers high security features and one factor that i really love on exchanges they are easier to use and trade it once we got log on our account. 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!
It is understandable that some people that trade everyday keep their coins in exchanges but I think that if people really care about their coins it will be preferable that at the end of the day they send their coins to an address of which they are the only person with the private key, yes it is true that you are going to spend more on fees but it is better to lose some fees than it is to lose all your money. 
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!
This is correct. It's unsafe to keep your cryptos for a long time in an exchange because everything can happen and your money will be stolen, we should be careful of keeping our money there, the best thing is to withdraw our winning in just a few days at the maximum. Why there is some web wallet? web wallets and hardware wallets are for saving our bitcoin with a high security and exchanges are for trading not for saving our money, keep that in mind guys.
Long term HODLing for sure, but many people like to day trade so have no choice but to have their Crypto on an exchange.
But with the recent incidents of exchange hacking this only gives an idea that every exchange can be hacked even the most secured ones. Day trading is popular but they have to make sure that after they trade, they must pull out and move their funds somewhere which is more secured like a hardware wallet or desktop wallet where they have full control of their funds. I guess laziness is what triggering others for letting their coins sleep on exchanges and they trying to avoid fees, I feel that way either.
saving coins on an exchange is a stupid thing, it's very dangerous, it's the same you give someone a chance to take your coins, many people put their coins too long on the bourse and eventually their coins are gone, remember! do not put your coins on the exchange too long, you better put them back in your wallet.
Long term HODLing for sure, but many people like to day trade so have no choice but to have their Crypto on an exchange.
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!
Yeah it is an unfortunate event. It is not 100% safe to leave your coins or tokens on centralized exchanges unless you are planning to sell them immediately.
People never learn of keeping off their funds on exchanges. They are thinking that the security of that exchange shall be enough to protect their funds.
But once these hackers started to go through the backdoor, all of these funds where off and gone through their pocket.
It's not bad to put a small amount to an exchange so you won't be itching the small transfer fees but make sure that it is acceptable if its lost.
But once these hackers started to go through the backdoor, all of these funds where off and gone through their pocket.
It's not bad to put a small amount to an exchange so you won't be itching the small transfer fees but make sure that it is acceptable if its lost.
I don't know why people keeps on doing this although there are many warnings what will happen on doing such and also there are many example that they lost their funds. Exchanges is not liable if ever your funds are lost. They told you to not do so because it still have vulnerabilities.
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