How do I check the exchange is safe?

coin-investor

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Quote from: Reyan on August 28, 2018, 03:00:20 AM

I’ve been trading on the same two popular exchanges for a while. But now I want to trade FNTC token which is trading on Ethen.market. It looks the same as other exchanges and says it’s decentralized but how do I know my private keys are safe with them? They are new and don’t look very well known. Is there a way to know they are safe if they haven’t been around for too long?

Check first if they have a complaint, you can do it in the scam section or by using Google, trading on a new unheard exchange is quite risky, you don't want to get scammed but that is a risk involved if you are trading on a new exchange, it's a gamble you never know if the site is true or not.

yohananaomi

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What must be avoided is not to exchange in a new place, because obviously we cannot expect anything that has not been tested at all. besides we get it and have set a market there, we have to do it. but if you want to trade it is not recommended for a place that has not been tested, because there are still many of the best and very reliable. why do you have to force it to trade in a place that we cannot know ?

https://coinmarketcap.com/rankings/exchanges/

elitemobb

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The security of your account on the stock exchange should be at the proper level, but you need to consider that if you do not take care of this, then your account will not be protected, there are many programs on the Internet that will help you with this.

LUGHUL

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Most decentralized exchanges use Private Key to import our wallets. But, to check whether it's safe or not you have to find out first by asking in a forum and others. As far as I know, decentralization exchange are safe is Etherdelta, Idex, and Forkdelta.

St4yInTh3D4rk

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Quote from: elitemobb on November 24, 2018, 04:46:46 PM

The choice of the exchange is a very important step for any trader, but before that it is necessary to study all the reviews about it, also to study many blogs, as well as many other important details, there are a number of services on which there is a rating of exchanges

Where we can find the reviews when an exchange is very new but we want to use it then we have to check the website and origin and also they have address for their office or company but when it comes to decentralized exchange then it is completely safe even it is new because we are controlling our exchange's wallet with private keys.

elitemobb

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The choice of the exchange is a very important step for any trader, but before that it is necessary to study all the reviews about it, also to study many blogs, as well as many other important details, there are a number of services on which there is a rating of exchanges

sunsilk

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Quote from: Koadharber on September 13, 2018, 03:40:32 PM

Quote from: sunsilk on September 12, 2018, 11:54:20 PM

Quote from: fara_buduk on September 12, 2018, 09:49:09 PM

for cautionary steps I suggest you do not easily enter new exchanges, unless the exchange is included in the Coinmarket cap and if you want to see prices you can enter decentralized exchanges such as IDEX, Forkdelta, stoxe...

Stay off your hands to any new exchange and don't trust them so quick. If there will be legit new exchanges, let them to make their name noisy in the future but as long as there's few review and experiences trust the old ones that are reliable.

I don't fully rely on coinmarketcap's info. It's easy to check the reviews of those exchanges that might caught your interest so spending a little bit of your time doing research about it won't cause you trouble.

A simple google search wont really cost an arm and leg but most people do really forget this basic thing and neither do I wont really easily trust up into those exchange suggestion being listed on CMC.
Always have the habit on searching for informations of an exchange.Check for feedbacks or reviews and if you cant find one then don't risk up because you wont know if you are just throwing of your coins completely on void.

It's why you need to spend a little bit of your time. Though some google results won't be reliable at least your are on the right forum to as things on specific topics and concerns.

Don't also be too gullible if you read reviews, be smart though its hard to know what's a paid review and not but look for multiple sources to verify.

Koadharber

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Quote from: sunsilk on September 12, 2018, 11:54:20 PM

Quote from: fara_buduk on September 12, 2018, 09:49:09 PM

for cautionary steps I suggest you do not easily enter new exchanges, unless the exchange is included in the Coinmarket cap and if you want to see prices you can enter decentralized exchanges such as IDEX, Forkdelta, stoxe...

Stay off your hands to any new exchange and don't trust them so quick. If there will be legit new exchanges, let them to make their name noisy in the future but as long as there's few review and experiences trust the old ones that are reliable.

I don't fully rely on coinmarketcap's info. It's easy to check the reviews of those exchanges that might caught your interest so spending a little bit of your time doing research about it won't cause you trouble.

A simple google search wont really cost an arm and leg but most people do really forget this basic thing and neither do I wont really easily trust up into those exchange suggestion being listed on CMC.
Always have the habit on searching for informations of an exchange.Check for feedbacks or reviews and if you cant find one then don't risk up because you wont know if you are just throwing of your coins completely on void.

sunsilk

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Quote from: fara_buduk on September 12, 2018, 09:49:09 PM

for cautionary steps I suggest you do not easily enter new exchanges, unless the exchange is included in the Coinmarket cap and if you want to see prices you can enter decentralized exchanges such as IDEX, Forkdelta, stoxe...

Stay off your hands to any new exchange and don't trust them so quick. If there will be legit new exchanges, let them to make their name noisy in the future but as long as there's few review and experiences trust the old ones that are reliable.

I don't fully rely on coinmarketcap's info. It's easy to check the reviews of those exchanges that might caught your interest so spending a little bit of your time doing research about it won't cause you trouble.

fara_buduk

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for cautionary steps I suggest you do not easily enter new exchanges, unless the exchange is included in the Coinmarket cap and if you want to see prices you can enter decentralized exchanges such as IDEX, Forkdelta, stoxe...

vlast01

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Quote from: Reyan on August 28, 2018, 03:00:20 AM

I’ve been trading on the same two popular exchanges for a while. But now I want to trade FNTC token which is trading on Ethen.market. It looks the same as other exchanges and says it’s decentralized but how do I know my private keys are safe with them? They are new and don’t look very well known. Is there a way to know they are safe if they haven’t been around for too long?

Try to read some reviews about such exchanger you may find your self more assured if you know the feedback of others who uses it for a long period of time. Do some research find any complains about such exchanger and by then make your choice

asyakashi

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Quote from: ciang huang on September 01, 2018, 04:50:13 AM

Quote from: Casdinyard on August 31, 2018, 02:45:57 AM

Quote from: sniper2018 on August 28, 2018, 05:19:00 AM

Quote from: Reyan on August 28, 2018, 03:00:20 AM

I’ve been trading on the same two popular exchanges for a while. But now I want to trade FNTC token which is trading on Ethen.market. It looks the same as other exchanges and says it’s decentralized but how do I know my private keys are safe with them? They are new and don’t look very well known. Is there a way to know they are safe if they haven’t been around for too long?

Don't see why you would need to go to a new exchange as long as the established ones like IDEX and Etherdelta exist. I will never switch to a new untrusted exchange. There are so many of them everywhere, like garbage.

If I were you I will just wait for that coin to be listed in other exchange sites rather than risking my coins especially you need to import your private key. However, if you really want to sell, just take the risk by sending to other wallet and use it to that exchange.

It's fine to consume more gas rather than compromising your wallet.

I agree with your opinion, bro, preferring to wait for a better exchange and lots of volume than the new exchange because I have experienced strange things in dealing in new exchanges because of many sudden problems.

CRD / cryptaldash is a new exchange, but I really appreciate the performance of this exchange is very impressive.
even though this is a new exchanger, I conclude that not all new exchanges have a problem.

tumiswaluh

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actually any exchange can be turn out to scam, even they are famous before. so all exchange are never really safe, si you must be careful when inserting you private keys or unlocking your wallet by metamask, always make sure you're aware whats the risk.

sergiorus

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there are no absolutely safe exchanges. Nevertheless I would recommend you to use the most popular ones such as Binance, Huobi, Bittrex etc
Also there are some pretty popular and userfriendly DEXe such as Idex or Forkdelta. Lots of people use them so you can be sure they kinda safe at the moment

dunfida

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Quote from: Reyan on August 28, 2018, 03:00:20 AM

I’ve been trading on the same two popular exchanges for a while. But now I want to trade FNTC token which is trading on Ethen.market. It looks the same as other exchanges and says it’s decentralized but how do I know my private keys are safe with them? They are new and don’t look very well known. Is there a way to know they are safe if they haven’t been around for too long?

Are you planning to deposit all of your token to their exchanges? I suggest don't do that since they were all vulnerable to any attacks from the outside.
And why would you want to use a new exchanges instead of those reputable exchanges who already exist. Don't be a stupid person who just randomly put their token to a shady exchanges just because they were blinded by the offers.

jakezyrus

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how do you check if the exchange is safe ? the answer is verry simple .

you need to deposit and start using that exchange and If you feel that there is something weird happening to their service , let say the coins arent appearing on your wallet or the costumer support isnt responding to your queries then you can immediately say that those exchange are bad and seems shady . You should refrain using them and better try another one. just dont put huge amounts just to be safe .

ciang huang

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Quote from: Casdinyard on August 31, 2018, 02:45:57 AM

Quote from: sniper2018 on August 28, 2018, 05:19:00 AM

Quote from: Reyan on August 28, 2018, 03:00:20 AM

I’ve been trading on the same two popular exchanges for a while. But now I want to trade FNTC token which is trading on Ethen.market. It looks the same as other exchanges and says it’s decentralized but how do I know my private keys are safe with them? They are new and don’t look very well known. Is there a way to know they are safe if they haven’t been around for too long?

Don't see why you would need to go to a new exchange as long as the established ones like IDEX and Etherdelta exist. I will never switch to a new untrusted exchange. There are so many of them everywhere, like garbage.

If I were you I will just wait for that coin to be listed in other exchange sites rather than risking my coins especially you need to import your private key. However, if you really want to sell, just take the risk by sending to other wallet and use it to that exchange.

It's fine to consume more gas rather than compromising your wallet.

I agree with your opinion, bro, preferring to wait for a better exchange and lots of volume than the new exchange because I have experienced strange things in dealing in new exchanges because of many sudden problems.

Luvr1000

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It seems to me that the best way is to find a person who has already made transfers through this exchange, it is better to find several people, also to find reviews on the Internet

badykvik

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Personally, I will advice that you use trusted exchange rather than looking for a new one that you are not even sure of how safe your token will be in it. Better still, you can wait patiently for the token to get listed on an exchange before you use the platform.

Casdinyard

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Quote from: sniper2018 on August 28, 2018, 05:19:00 AM

Quote from: Reyan on August 28, 2018, 03:00:20 AM

I’ve been trading on the same two popular exchanges for a while. But now I want to trade FNTC token which is trading on Ethen.market. It looks the same as other exchanges and says it’s decentralized but how do I know my private keys are safe with them? They are new and don’t look very well known. Is there a way to know they are safe if they haven’t been around for too long?

Don't see why you would need to go to a new exchange as long as the established ones like IDEX and Etherdelta exist. I will never switch to a new untrusted exchange. There are so many of them everywhere, like garbage.

If I were you I will just wait for that coin to be listed in other exchange sites rather than risking my coins especially you need to import your private key. However, if you really want to sell, just take the risk by sending to other wallet and use it to that exchange.

It's fine to consume more gas rather than compromising your wallet.

lumira555

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Use only trusted exchanges, so you to protect yourself

Xuaquing141

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Choosing the reputation and large vulume exchanges is the safest way when you sell or buy tokens. Btw, with the decentralized exchange like: Idex or Etherdelta, before trading, you must deposit the private key of your MEW wallet. Please using withe Metamask to protect your wallet

jamids

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Quote from: Reyan on August 28, 2018, 03:00:20 AM

I’ve been trading on the same two popular exchanges for a while. But now I want to trade FNTC token which is trading on Ethen.market. It looks the same as other exchanges and says it’s decentralized but how do I know my private keys are safe with them? They are new and don’t look very well known. Is there a way to know they are safe if they haven’t been around for too long?

I would recommend for you to read first the review of the people about the exchange and you have come to the right place to ask information since people here are all interested in cryptocurrency. If you can't really avoid trading there then better test it out with a small amount first and if you can use metamask in that exchange then do so so that you can protect your private key. There are so many exchanges nowadays that we don't know if they are scam or not so if you are not that urgent to trade then better wait for it to be listed in a more reputable exchange.

Vargum

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I think for the exchange of tokens on the basis of Ethereum you can use more well-known exchanges, in which there is confidence that they are safe. It is better not to use new exchanges, but to use proven

Ojengonggu

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Quote from: hotimbineh on August 28, 2018, 05:35:36 PM

until now I have never traded in a new market that uses private keys before entering the coin marketcap because this is a harti-careful step and if the token results from the bounty then I will wait until there is an exchange that is recommended if not then forkdelta is the last exit

I agree with you, because I have experienced it, if the name of the exchange is not wrong, clearclenet.com and after I managed to sell my token, after that I was unable to withdraw my funds and until finally I joined the telegram channel and there were many members asking the same as me and in the end the admin disappeared from the telegram and the site was not accessible

hotimbineh

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until now I have never traded in a new market that uses private keys before entering the coin marketcap because this is a harti-careful step and if the token results from the bounty then I will wait until there is an exchange that is recommended if not then forkdelta is the last exit

reflector

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Quote from: Reyan on August 28, 2018, 03:00:20 AM

I’ve been trading on the same two popular exchanges for a while. But now I want to trade FNTC token which is trading on Ethen.market. It looks the same as other exchanges and says it’s decentralized but how do I know my private keys are safe with them? They are new and don’t look very well known. Is there a way to know they are safe if they haven’t been around for too long?

You may see the review about the exchange on the forum or review sites such as badbitcoin.org or something. These will be most helpful to learn the worth of the exchange site or other crypto related sites.
So I have noticed exchange side there is no big scams or anything because they want to run the project for long time. Hence they will be perfect go with it.

Checked this link below to find the legitimate.

https://badbitcoin.org/thebadlist/index.htm

Jedie22

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Quote from: Reyan on August 28, 2018, 03:00:20 AM

I’ve been trading on the same two popular exchanges for a while. But now I want to trade FNTC token which is trading on Ethen.market. It looks the same as other exchanges and says it’s decentralized but how do I know my private keys are safe with them? They are new and don’t look very well known. Is there a way to know they are safe if they haven’t been around for too long?

Traders should always be aware of hacks. There are a lot of stories about security problems with decentralized exchanges although less so than with centralized ones. The main thing is to keep your money on a secure wallet and withdraw it as soon as possible.

Esterklu

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For DEX first i am using new MEW address and send their just tokens which i want to trade and ETH for gas. If it is not DEX - i am starting with min sums and go to their social media to see what people are talking about this exchange.

stomachgrowls

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Quote from: Reyan on August 28, 2018, 03:00:20 AM

I’ve been trading on the same two popular exchanges for a while. But now I want to trade FNTC token which is trading on Ethen.market. It looks the same as other exchanges and says it’s decentralized but how do I know my private keys are safe with them? They are new and don’t look very well known. Is there a way to know they are safe if they haven’t been around for too long?

New exchangers doesn't mean that they are automatically considered to be scam yet all exchangers would really go into that starting point where they are unknown or just popped out on the market.
The important thing you can do is when you do tried to check out the legitimacy of an exchange then always seek out for any feedbacks and make sure those words aren't just on few counts.It always matter on community views and experience.If you haven't find any comments then try for yourself on small amounts.

Make New wallet - Pass tokens from old wallet to new - Input on the exchange your new wallet private keys.

These steps might be hassle but would really decrease the risk since you aren't using your main wallet.

Hodlvcl

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Quote from: sniper2018 on August 28, 2018, 05:19:00 AM

Quote from: Reyan on August 28, 2018, 03:00:20 AM

I’ve been trading on the same two popular exchanges for a while. But now I want to trade FNTC token which is trading on Ethen.market. It looks the same as other exchanges and says it’s decentralized but how do I know my private keys are safe with them? They are new and don’t look very well known. Is there a way to know they are safe if they haven’t been around for too long?

Don't see why you would need to go to a new exchange as long as the established ones like IDEX and Etherdelta exist. I will never switch to a new untrusted exchange. There are so many of them everywhere, like garbage.

New exchanges often offer better service and functionality. Decentralized exchange I’ve tried Ethen once and it seemed faster than others and had a better interface. As for the safety, decentralization is the best thing out there with the maximum safety that can be achieved at the moment.

Googlegenius

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All decentralized exchanges are safe because they operate on blockchain. They will have no access to your private key, don’t hold your personal information and account balance. All trades happen not on a centralized server but run on a distributed ledger. I’ve checked out Ethen, they have a smart contract for trading https://etherscan.io/address/0xf4c27b8b002389864ac214cb13bfeef4cc5c4e8d#code, no registration, and an open code for withdrawing tokens https://ethenmarket.github.io/. Means your funds are safe. Wink

bhadz

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Why use an exchange that you are doubting? send your tokens first to another wallet (metamask) for that token only and connect that to the exchange for your experimental trade with that exchange. But its easier to avoid it and use a well trusted exchange that has that token listed.

a31078

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Though the exchange might be new and you feel it is safe for you to use but I will like you to take your time to do a very good research about the safety and potentials of it before you move your funds to it. I see no reason why you should even use an exchange you are not sure of when you have better and more reliable ones that have been in the market for a while.

sniper2018

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Quote from: Reyan on August 28, 2018, 03:00:20 AM

I’ve been trading on the same two popular exchanges for a while. But now I want to trade FNTC token which is trading on Ethen.market. It looks the same as other exchanges and says it’s decentralized but how do I know my private keys are safe with them? They are new and don’t look very well known. Is there a way to know they are safe if they haven’t been around for too long?

Don't see why you would need to go to a new exchange as long as the established ones like IDEX and Etherdelta exist. I will never switch to a new untrusted exchange. There are so many of them everywhere, like garbage.

Reyan

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I’ve been trading on the same two popular exchanges for a while. But now I want to trade FNTC token which is trading on Ethen.market. It looks the same as other exchanges and says it’s decentralized but how do I know my private keys are safe with them? They are new and don’t look very well known. Is there a way to know they are safe if they haven’t been around for too long?

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