How to keep your funds secured? - page 2.

sheenaedago

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A lot depends on whether you trade your digital assets daily and what goal you set in making a profit, if it is 200-300%, you can store it in your wallets, if you are a supporter of constant buying and selling, then you definitely need to keep them on the exchanges, otherwise you can miss the profit

All of the above is perfect and safe recommended ways to make our funds secure for trading needs. For my own preference I choose using metamask and save the seed phrase that I backed up in order to have an access by the time I wanted to transact all my holdings. It's simple and safe, you won't get rid of possible cyber attacks.

Questat

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Quote from: rizkyfebrian213xx on July 03, 2019, 10:56:04 PM

I think you must keep your assets on hardware wallet or software wallet (on Windows / Linux / Android) , because exchanges are not safe anymore but not all exchanges.. just few of them. I said like this because I read article on few months ago , there was many exchanges got hacked like Coinbene , Cryptopia (and now closed) and also Binance , we know Binance is bigger exchange now than other but I read few month ago like 1-2 month ago Binance got hacked and user funds already replaced by Binance.

No to exchange if you like funds secured, the best choice is a hard wallet, you need to invest for this to protect your investment.
When you put in exchange, it could be hack or the exchange itself will be hack, and your money is gone. When you put it on your deskstop wallet, it's also risky as malware or phishing is what you enemy here.

rizkyfebrian213xx

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I think you must keep your assets on hardware wallet or software wallet (on Windows / Linux / Android) , because exchanges are not safe anymore but not all exchanges.. just few of them. I said like this because I read article on few months ago , there was many exchanges got hacked like Coinbene , Cryptopia (and now closed) and also Binance , we know Binance is bigger exchange now than other but I read few month ago like 1-2 month ago Binance got hacked and user funds already replaced by Binance.

Distinctin

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No dream is too big and no dreamer is too small

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Quote from: VazgenKokosik on January 31, 2019, 08:43:00 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?

for me, save wallet in secured exchange like binance then install two authenticator security, after that your wallet is very secured. low chance to be hacked

Not so safe, 2FA is only a good security to prevent your wallet of getting hack, however if the site alone is hack, your assets are still in danger.
just like the recent report when Binance was hack, lots of user accounts are compromise but they got it covered with SAFU funds, what if no funds available next time?

Caladonian

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Quote from: Vishnu.Reang on June 30, 2019, 08:43:16 PM

Quote from: VazgenKokosik on January 31, 2019, 08:43:00 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?

Keeping your coins in exchanges is the worst thing to do. You never know when these exchanges go down. It has occurred quite frequently, starting with Mt Gox in 2014, to the recent hacks of Bitfinex and Cryptopia. Why do you want to keep your coins in exchanges, when free online wallets such as Blockchain.com are available? If you don't mind spending $100, then you can go for a hardware wallet as well.

If you can get a hardware wallet then go for it, storing your assets inside the exchange will always worry you for potential of losing your investment, always think before you go to any decisions in regards of securing your money inside this industry, remember that it's your money that you are securing.

Vishnu.Reang

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Quote from: VazgenKokosik on January 31, 2019, 08:43:00 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?

Keeping your coins in exchanges is the worst thing to do. You never know when these exchanges go down. It has occurred quite frequently, starting with Mt Gox in 2014, to the recent hacks of Bitfinex and Cryptopia. Why do you want to keep your coins in exchanges, when free online wallets such as Blockchain.com are available? If you don't mind spending $100, then you can go for a hardware wallet as well.

yvesp110

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Quote from: coingrowth on June 29, 2019, 11:21:27 PM

Quote from: Bunsomjelican on June 29, 2019, 08:44:20 PM

All I can say that if you want to keep and safe funds or crypto, nano ledger is one of the good and the best for this things mate.
Only things you need to buy em in online in amazon, but if you don't want to buy em you can use Mew known as myetherwallet for crypto
or cold wallet if you want to save bitcoin.

Yes, nano ledger is another way to secure your coins because we are seeing many negative hacks about using low secured wallets. If you cannot able to buy, better store in MEW because we find more secure through this online web wallet.

You have so many options available to store your coins in. There are a number of companies who are in the business and they have introduced different kind of USB sticks that enable you to secure your funds. The devices have different capacity for storing the coins and are available at low price in the market. But you should do that only if you are not trading your coins.

xSkylarx

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A newbie to cryptocurrencies should do this as a habit:

-Never trust an exchange to store your crypto.
-Use a crytpo wallet that uses private key to access and recover it.
-Always enable the 2 factor authenthication of your wallets and exchanges accounts.
-Make multiple backups of private key of your crypto wallet.
-Never give to anyone your private key.

superstarbtc

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Quote from: Kimonoe on June 30, 2019, 01:59:02 AM

Quote from: shoreno on June 29, 2019, 10:04:44 PM

Quote from: Bunsomjelican on June 29, 2019, 08:44:20 PM

All I can say that if you want to keep and safe funds or crypto, nano ledger is one of the good and the best for this things mate.
Only things you need to buy em in online in amazon, but if you don't want to buy em you can use Mew known as myetherwallet for crypto
or cold wallet if you want to save bitcoin.

Hardware wallets and cold storage are enough if you want a high security when storing your cryptos . you did mention mew ? Mew is only an online wallet and online wallets dont stand a chance compare to hardware wallet and cold storage when it comes to security plus mew is also risky because mew is already been hacked before and it also prone to phishing attacks .

indeed, you should not use Mew that has been hacked, of course hackers already have access to enter. I don't understand the device, now what I'm doing is providing additional security

It is very bad idea to transfer the coins to already hacked account. So try to create the new account always in order to secure your funds in a different way because we shouldn't keep all our eggs at one place, there might be huge chances to hack the accounts.

Kimonoe

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Quote from: shoreno on June 29, 2019, 10:04:44 PM

Quote from: Bunsomjelican on June 29, 2019, 08:44:20 PM

All I can say that if you want to keep and safe funds or crypto, nano ledger is one of the good and the best for this things mate.
Only things you need to buy em in online in amazon, but if you don't want to buy em you can use Mew known as myetherwallet for crypto
or cold wallet if you want to save bitcoin.

Hardware wallets and cold storage are enough if you want a high security when storing your cryptos . you did mention mew ? Mew is only an online wallet and online wallets dont stand a chance compare to hardware wallet and cold storage when it comes to security plus mew is also risky because mew is already been hacked before and it also prone to phishing attacks .

indeed, you should not use Mew that has been hacked, of course hackers already have access to enter. I don't understand the device, now what I'm doing is providing additional security

coingrowth

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Quote from: Bunsomjelican on June 29, 2019, 08:44:20 PM

All I can say that if you want to keep and safe funds or crypto, nano ledger is one of the good and the best for this things mate.
Only things you need to buy em in online in amazon, but if you don't want to buy em you can use Mew known as myetherwallet for crypto
or cold wallet if you want to save bitcoin.

Yes, nano ledger is another way to secure your coins because we are seeing many negative hacks about using low secured wallets. If you cannot able to buy, better store in MEW because we find more secure through this online web wallet.

shoreno

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Quote from: Bunsomjelican on June 29, 2019, 08:44:20 PM

All I can say that if you want to keep and safe funds or crypto, nano ledger is one of the good and the best for this things mate.
Only things you need to buy em in online in amazon, but if you don't want to buy em you can use Mew known as myetherwallet for crypto
or cold wallet if you want to save bitcoin.

Hardware wallets and cold storage are enough if you want a high security when storing your cryptos . you did mention mew ? Mew is only an online wallet and online wallets dont stand a chance compare to hardware wallet and cold storage when it comes to security plus mew is also risky because mew is already been hacked before and it also prone to phishing attacks .

Bunsomjelican

sr. member

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All I can say that if you want to keep and safe funds or crypto, nano ledger is one of the good and the best for this things mate.
Only things you need to buy em in online in amazon, but if you don't want to buy em you can use Mew known as myetherwallet for crypto
or cold wallet if you want to save bitcoin.

xamxam

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Quote from: VazgenKokosik on January 31, 2019, 08:43:00 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 said that you currently keep crypto, right? May I ask you what crypto you are holding it now? Because, there are some altcoins you store it using MEW(myetherwallet), or you can keep it at the top exchange in the market just like Binance, Kucoin, Coinbene, and Okex, and Houbi just make sure you will submit KYC to each platform, so that your account or assets will not freeze by the exchange.

torry28

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Quote from: Aivaryamal on June 29, 2019, 07:47:11 AM

In the digital asset market, if you are an active trader, you have to take risks anyway,as there are no decentralized exchanges with large volumes for trading yet

Just because you trade on decentralized exchange, doesn't mean you will not getting scammed. There were a lot of scam case in decentralized exchanges (IDEX, and ETHERDELTA). I would like prefer centralized exchange since they have much bigger volume than decentralized exchanges

Caladonian

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Quote from: Eildosa on June 28, 2019, 02:49:06 PM

If you do not trade often, it is better not to keep your funds on the exchange. It's unsafe. But if you are a trader, then you better choose a safe exchange. I would recommend you use a Binance.

That's the better way to deal with this business,if you are a heavy trader and always taking chances to place position inside exchange, you need to look for good exchange like binance or bittrex it whatever exchange you find yourself very comfortable to use and store your balance, but if you are not really dealing that much it's much safer to withdraw your coins out from exchange and send it to your hard wallet.

Aivaryamal

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In the digital asset market, if you are an active trader, you have to take risks anyway,as there are no decentralized exchanges with large volumes for trading yet

Capt00

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Quote from: Eildosa on June 28, 2019, 02:49:06 PM

If you do not trade often, it is better not to keep your funds on the exchange. It's unsafe. But if you are a trader, then you better choose a safe exchange. I would recommend you use a Binance.

Keeping our funds in any exchanges even it is a reputable one still not advisable cause we know what possibilities that might happen into them, it could be better if we keep it in our own controlled wallet. Anything about securities will always lie into our hands on how the way handle it. Even we use hard wallets still, not a guarantee that it will be safe at 100% knowing the fact that we can still be using the internet to do transactions. Only we should have to be careful and not to fall into phishing sites.

Tungsten-1

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Quote from: Barbut on June 28, 2019, 12:25:00 PM

Quote from: Aivaryamal on June 28, 2019, 12:30:43 AM

It is desirable to store your tokens on your own wallets of blockchain platforms with private keys, but if you are a trader, then you have to transfer them to exchanges, I recommend buying and selling cryptocurrencies on decentralized platforms with good volumes

With dapp`s, you don`t need to transfer your coins from your wallet to exchange and vice versa all the time, you have your coins in your wallet all the time. The only way to keep your funds safe is your wallet with private keys, everything else is risky, online wallet services can be shut down, exchanges can be hacked. Hardware wallet with private keys is the safest solution, people should learn about how to store coins before they get into cryptocurrencies.

If the question is about the security of funds that is in online or offline wallets, then it depends on if you are a trader. If you are a trader, you would like to keep your coins in the hot wallet over the exchange to be able to trade right away when the deal is in your interest. However, if you are HODLING for long, better go for a cold storage or hardware wallet.

Eildosa

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If you do not trade often, it is better not to keep your funds on the exchange. It's unsafe. But if you are a trader, then you better choose a safe exchange. I would recommend you use a Binance.

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