Topic: How safe is exchange? - page 10. (Read 2970 times)
Exchanges too have private key for the wallets but they don't reveal that to us because they are holding our funs in the name of us we gave them such power,but not safe as we are keeping them in a wallet so if we want to store our crypto currencies safely for longer term then keep them in a wallet that provides private key.
Crypto-currency exchanges are always reliable. This is the largest Binance exchange. Trading transactions can be done easily and quickly.
where it actually depends on each of us if we look at the crypto wallet everything is also safe they will use the code that is only the users who know and if there are some hacking possible errors are on the user he may give some address or key that is not intentional.
I try to not keep much coins in exchanges, even if it is my favorite exchange, reliable and time-tested. Thre is no fully safe exchange, so do not risk holding there your coins.
Reshyrene just do not keep coins on long on exchanges! In any case, you can send from your wallet to the stock exchange and sell this business for one minute!
I am sure that the exchange will use everything to protect their site and their member because they want to give something to their member. and if there is any problem related to their site, they will do whatever it takes to give protection from the attackers. besides that, they will announce if they are finished to solve the problem or give any information related to their sites.
You don't seem to realize that almost all the exchanges that got hacked, involved an insider. At the end of the day, a site might mean so well, but you never can tell of that one rotten egg. So never turn an exchange to a bank and leave only enough amount for your trading, which of course, should be an amount no more than what we can afford to loss. 
Hi,
Every exchange adding a new btc, eth, token address on the exchange website.
I think they need some private key to set the transaction on this websites.
So is this private key stored in a normal database?
And is this safe?
Exchange is not safe for keeping your coins, it is only design to trade your coins and keep of the exchange if you have no plan to trade it because exchange website are always the target of hackers.Exchange owner are the one who keep the private key of the address in the exchange. Every exchange adding a new btc, eth, token address on the exchange website.
I think they need some private key to set the transaction on this websites.
So is this private key stored in a normal database?
And is this safe?
don't keep a lot of coins in exchanges
Agree with your comments. I usually use 3 different exchanges like houbi, kucoin and bittrex. I divided my assets into three parts and stored on 3 exchanges. I think it's safeThe trading floor is called safe. The floor is full of information, everything is transparent, there are thousands of participants in the transaction, the list considered potential
There is no safe zone that will cause the investor to not lose their money. People need to realize that while trading, people lose their money in order for the next person to make money.
The trading floor is called safe. The floor is full of information, everything is transparent, there are thousands of participants in the transaction, the list considered potential
Some exchanges are safer than others, but nevertheless I would recommend you to hold your coins into private wallets where you own the private key or a seed. Because there are always exit scams of exchanges.. You are safe if you store all on a cold wallet!
first and foremost, I will advise you trade on good exchanges. Tokens can be left on a good exchange when they are used for day to day trading activities. If you intend doing the long-term investment package, a proper and secure hardware wallet is recommended. The reason(s) is not far-fetched, An exchange can be hacked at any given time and your investment may be compromised leading to loss of capital. The least they could do is try to compensate their customers/investors. compensation can never be compared to your total worth of investment
Anyway, there are also specific cases of dangerous situations in decentralized entities, as happened a few weeks ago with myetherwallet, in which the DNS of google was hacked, but in any way, always the decentralized exchanges are perhaps not the most pupular but if the more secure. In such exchanges you should only have the tokens for the short-term trading.
No one centralized exchange can be resistant to hacker attacks. In the short history of the cryptocurrency existence, such incidents have occurred repeatedly, and in many cases, exchanges from their own pocket have compensated customers stolen money. Decentralized exchange cannot be hacked, mostly, of course. A much greater danger is the user's loss access to their funds. Can say that popular centralized exchanges are as safe as banks today.
It is safe for whales who don't care much if they lose their coins. Rule is to leave only the coins you are trading with on the exchange, anything long term should be put into a proper wallet off the exchanges.
They can shut down any time and all your coins will be lost!
It is not really that safe to exchange your coins. Your coins might get lost. Before you exchange you need to be surr if you really want it and can take a risk. They can shut down any time and all your coins will be lost!
Hi,
Every exchange adding a new btc, eth, token address on the exchange website.
I think they need some private key to set the transaction on this websites.
So is this private key stored in a normal database?
And is this safe?
I think it's a safe thing because until now no one has felt any loss with it because now every exchange offers high security to make traders feel happy and comfortable. so do not worry about it. Every exchange adding a new btc, eth, token address on the exchange website.
I think they need some private key to set the transaction on this websites.
So is this private key stored in a normal database?
And is this safe?
That belong to how the exchanges operate? If exchanges store customer's funds in cold hardware, it's totally safe.
I think it is safe or not is not about where the private key is stored. Exchange is best practice to securely store your cryptos in a wallet that you control the private keys for. A hardware wallet makes this very easy to do, and a user would have to have the wallet in their hands to move the coins. If you are going to use an app on your phone to store your crypto, again, only use one that is primarily a wallet, and allows you to control your own private keys. Thus, you both control your private keys, so my opinion is secured or not depends on your control.
No trading platform is 100% safe. Hacker can do everything. The large flooring like poloniex, bitttrex have the best security today and that would be the better choice
Agree with your point. Keeping the coins on exchanges isn't good. But still... if choosing just safe and reliable cryptocurrency websites, it usually would be the larger ones. To those you mentioned I would also add cex.io, they are pretty good in terms of security imo.
Generally, the private keys are kept by the exchanges stuffs or managers, there are risks that the exchanges will take away your coins, but I think some big exchange will not do that since they can make great profit to keep the exchange safe, instead of taking the coins away for a short time profit!!!
Crypto-currency exchanges are always reliable. This is the largest Binance exchange. Trading transactions can be done easily and quickly.
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