How to keep your funds secured? - page 11.

Rebisco

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Quote from: adaseb on February 03, 2019, 04:30:21 AM

The easiest way would be to use a hardware wallet.

However if you don't want to spend the money or wait for your hardware wallet to arrive you can use a wallet such as Electrum with cold storage. Basically you will need another computer/laptop which NEVER connects to the internet. You would use that computer to create your secure seed and it would sign your transactions for you.

If you want more info go to the Electrum section of Bitcointalk forum at:
https://bitcointalk.org/index.php?board=98.0

Here is a simple guide how cold storage works
http://docs.electrum.org/en/latest/coldstorage.html

Electrum is one of the cold storage that we can use in order to protect our bitcoins from hackers. Even got many issues last year, the users are still have trust to use it because of its high security. It is easy to use than the other bitcoin wallet so it is advisable to use.

adaseb

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The easiest way would be to use a hardware wallet.

However if you don't want to spend the money or wait for your hardware wallet to arrive you can use a wallet such as Electrum with cold storage. Basically you will need another computer/laptop which NEVER connects to the internet. You would use that computer to create your secure seed and it would sign your transactions for you.

If you want more info go to the Electrum section of Bitcointalk forum at:
https://bitcointalk.org/index.php?board=98.0

Here is a simple guide how cold storage works
http://docs.electrum.org/en/latest/coldstorage.html

JRoa

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Quote from: Coin-1 on January 31, 2019, 05:23:52 PM

Quote from: VazgenKokosik on January 31, 2019, 09:43:00 AM

I currently keep my crypto on localbitcoins but it recently got hacked to im concerned for my money. I want to move it somewhere safe but still be able to make trades without much fuss. Im still learning to trade but im pretty serious about it. Can you recommend me a good exchange that hasn't been hacked yet?

To find a good exchange that has not yet been hacked, you can look at the list of the crypto currency exchanges with a high trading volume, for example:
https://coinmarketcap.com/rankings/exchanges/

As a rule, large crypto currency exchanges hire highly qualified employees and invest heavily in security, therefore you most likely will not be hacked if you choose one of the TOP-20 crypto exchange markets.

That linked is really helpful for us to find a good exchange that we can ensure that our funds are safe. The most advisable exchange that we can use is the Binance due to its high security and low fees.

JohnBitCo

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Quote from: ryap12 on February 02, 2019, 11:06:48 PM

The most COMMON advise is to transfer your funds back to a cold wallet whenever you're done trading. (SAFE)

Why not buy a hardware wallet and transfer funds to it whenever you're done trading? (SAFER)

Just buy and don't trade. Keep them in a hardware wallet. Create a portfolio and check whenever the price spikes then trade/cash-out. (SAFEST)

Its not easy to transfer from funds to hardware wallet once you have done trading. I have keep some bitcoin only for trading and I keep it on the exchange. The profit which I get from trading, I transfer it to my desktop wallet. I have not buy a hardware wallet yet as I think desktop wallet is enough for me.

FUD Expert

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Quote from: VazgenKokosik on January 31, 2019, 09:43:00 AM

Im quite new to crypto so i wanted to know what exchanges do you use and i'd be grateful for advises on security. I currently keep my crypto on localbitcoins but it recently got hacked to im concerned for my money. I want to move it somewhere safe but still be able to make trades without much fuss. Im still learning to trade but im pretty serious about it. Can you recommend me a good exchange that hasn't been hacked yet?

I'm sorry but to tell you the truth, all of those exchanges are prone to hacking. They only need time to crack the code and 'voila', it's hacking time. Don't be lazy and go buy yourself and trezor wallet. Even binance is the top, they could still hacked because just take a look at our banks that still experiences losses from hackers.

TravelMug

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Exchanges are not safe, two recent cases:

[1] Cryptopia hacked - https://cointelegraph.com/news/report-new-zealand-cryptopia-exchange-hack-continues

[2] Quadrigacx founder die - https://cointelegraph.com/news/crypto-exchange-quadrigacx-missing-145-mln-after-death-of-founder. Without giving the keys to the hot wallet.

All wallets are not safe as well, so you need to be careful on how to protect your account here in cryptoverse. Used strong passwords, 2FA's, backup your private keys and not click any suspicious looking sites around. Or if you're really paranoid, get a hardware wallet like Trezor or Nano.

adamlillian

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Quote from: VazgenKokosik on January 31, 2019, 09:43:00 AM

Im quite new to crypto so i wanted to know what exchanges do you use and i'd be grateful for advises on security. I currently keep my crypto on localbitcoins but it recently got hacked to im concerned for my money. I want to move it somewhere safe but still be able to make trades without much fuss. Im still learning to trade but im pretty serious about it. Can you recommend me a good exchange that hasn't been hacked yet?

I think it's Okex. Okex is really a great trading platform and has the largest volume of trading platforms operating in the crypto market.
A large exchange must have a good security system. I have been using the Okex trading platform for the past 2 years and I have never been hacked.

binhvo1505

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Quote from: VazgenKokosik on January 31, 2019, 09:43:00 AM

Im quite new to crypto so i wanted to know what exchanges do you use and i'd be grateful for advises on security. I currently keep my crypto on localbitcoins but it recently got hacked to im concerned for my money. I want to move it somewhere safe but still be able to make trades without much fuss. Im still learning to trade but im pretty serious about it. Can you recommend me a good exchange that hasn't been hacked yet?

Binance is a big trading platform but it was previously accused of letting hackers infiltrate investors' accounts to place buy and sell orders.
But I think that is the mistake of investors when using computers. Now there are lots of un-virus links and we just need to press the wrong ones, our computer will be stolen data very quickly.
So to secure your money, you should use a laptop and only use it to work. Do not download any other strange applications. That's how to keep your account safe.

ryap12

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The most COMMON advise is to transfer your funds back to a cold wallet whenever you're done trading. (SAFE)

Why not buy a hardware wallet and transfer funds to it whenever you're done trading? (SAFER)

Just buy and don't trade. Keep them in a hardware wallet. Create a portfolio and check whenever the price spikes then trade/cash-out. (SAFEST)

canman

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Quote from: glendall on February 02, 2019, 08:03:49 PM

so far the good exchange that I use is binance,
the first reason is because binance does have an experienced team, and it is evident from the features and displays that are given different from other exchangers,
besides that we don't need to do KYC to be able to withdraw.
or if you want better, you can look for exchanges that support the cold wallet feature, it can be better.

I believe in Binance and this exchange has never had a security problem during the past year. You can also keep your coin safely in Ledger Nano S because this is the safest wallet with the highest security in the world in this market.

glendall

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so far the good exchange that I use is binance,
the first reason is because binance does have an experienced team, and it is evident from the features and displays that are given different from other exchangers,
besides that we don't need to do KYC to be able to withdraw.
or if you want better, you can look for exchanges that support the cold wallet feature, it can be better.

mersal

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Yes there are lot of opportunities to secure your friends more safely in any changes but you need to check your friends at least once in a day because the market is not in your control so making your funds are more higher is very easy but doing it properly is the big difficulty happening here.

ShowOff

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Quote from: Jeremdip on February 02, 2019, 04:36:44 PM

Don't ever use exchanges wallet for long-term holds, exchanges are only and only for short-term or maximum in some cases can be used for medium-term holds, There is a possibility that an exchange that is working well now won't exist tommorow, and even there is no scam, these exchanges can be compromised, It's best to keep your long-term holds on your personal wallet.

Maybe people face problem that they want to save their money securely, but want to trade every they want. Maybe what be solution is trade on DEX types. Because it is like only open their wallet and then sell their coins. But give our private key to a site is have big risk too.

deisik

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Quote from: VazgenKokosik on January 31, 2019, 09:43:00 AM

Im quite new to crypto so i wanted to know what exchanges do you use and i'd be grateful for advises on security. I currently keep my crypto on localbitcoins but it recently got hacked to im concerned for my money. I want to move it somewhere safe but still be able to make trades without much fuss. Im still learning to trade but im pretty serious about it. Can you recommend me a good exchange that hasn't been hacked yet?

You may want to look into covered shorts

As the saying goes, there is no place like home, so the best place for your coins (whichever you have) is your local wallet, desktop or otherwise. But since you still want to trade and earn profits (which is understandable), the safest approach is to trade using borrowed funds while keeping only part of your stash in an exchange account as a collateral. In this way, if things go wrong like exchange shutting down for whatever reason, you will lose only part of your stash, while still enjoying the ability to trade your full potential if they don't

Jeremdip

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Don't ever use exchanges wallet for long-term holds, exchanges are only and only for short-term or maximum in some cases can be used for medium-term holds, There is a possibility that an exchange that is working well now won't exist tommorow, and even there is no scam, these exchanges can be compromised, It's best to keep your long-term holds on your personal wallet.

isaac_clarke22

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Quote from: harizen on January 31, 2019, 05:34:40 PM

Quote from: VazgenKokosik on January 31, 2019, 09:43:00 AM

~

Who the heck stores their coins in exchanges anyway? It's like a hack suicide to your funds especially if you don't have the sole intention to sell it or bulk it up by any means necessary or unless it's just a plain rusted coin you're holding without any value. Sometimes it's the fees that traders are having issue at when they tend to think about whether they should drain it to their MyEtherWallet or any hardware wallets.

semobo

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Quote from: VazgenKokosik on January 31, 2019, 09:43:00 AM

Im quite new to crypto so i wanted to know what exchanges do you use and i'd be grateful for advises on security. I currently keep my crypto on localbitcoins but it recently got hacked to im concerned for my money. I want to move it somewhere safe but still be able to make trades without much fuss. Im still learning to trade but im pretty serious about it. Can you recommend me a good exchange that hasn't been hacked yet?

Localbitcoin platform didn't face any security breach so its your problem because you revealed you password to someone,you can increase the security of LBC account by 2FA and IP authorization and few more tools available.

Oilacris

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Quote from: Ucy on February 02, 2019, 04:18:29 AM

No centralized exchange can guarantee you a secured fund. Just make sure not to leave a lot of funds on exchanges especially the centralized ones. It's just too risky. Only use those exchanges when you want to quickly buy or sell your Bitcoin. Again make sure you don't leave a lot of funds there after trading.
By the way, It is said "you don't own your Bitcoin if you don't have the Private keys."
If you need secure place to store your coin safely, then use electrum wallet https://electrum.org/#home as some above suggested.

I totally agree in this especially if we are dealing with the centralized exchange they were really the most common target by hackers.
People can use the cold storage hardware wallet for an instance if you don't feel the safety of your own cryptocurrency.
Just use the legitimate one that has a highest reviews hardware wallet to avoid unsatisfactory outcome.

Jesabela04

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Since everything is hackable these days, we should be smart enough to handle our earnings and holdings. We should store and keep our earnings well so that we'll not have any regrets in the future. I guess keeping our earnings in a hard wallet is better and more secure.

sheenshane

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Quote from: Ucy on February 02, 2019, 04:18:29 AM

snip-
By the way, It is said "you don't own your Bitcoin if you don't have the Private keys."
If you need secure place to store your coin safely, then use electrum wallet https://electrum.org/#home as some above suggested.

I agreed I also now currently used that wallet an Electrum, feel safer than other wallets.
You can actually go ahead now and save your cryptocurrencies in hardware storage if you really wanted it to be 100% safe.
Of course, you have to save the hardware yourself as well and keep it in the safest location you will ever imagine.

But if you are looking for a good exchange, you may also try etherdelta.com. But if you want a centralized exchange, try Binance since it is one of the most trusted centralized exchange. I don't know why you were hacked in the exchange and let your money be stolen by someone. You have to be more careful next time because everyone would love to look for someone like you in this industry and make you a victim.

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