How to keep your funds secured? - page 3.

thunderbitz2717

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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?

If you got hacked it means you made the wrong move in it. Now in every exchange there is no assurance that you can prevent from hacker, that's a wrong mindset dude, because all exchange in crypto industry business whether decentralize or centralize are both risky once you get enter to their platform, so it is always We do it in our own risk.

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Quote from: Aivaryamal on June 28, 2019, 01:30:43 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.

Aivaryamal

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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

perla

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Quote from: mkmdoc on June 28, 2019, 12:14:43 AM

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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 you should use your own wallet, so you can control the private keys. I recommend Blockchain or Coinbase wallet. If you still want an exchanger, i think Binance is a good choice.

Using your own wallet will always helps you to control the transactions. One more thing we have to remember is as long as if you don't share the private key with others you will be on safe hands. Yes, binance is one of the bext exchange for exchanging your tokens.

Right, even will need more time or maybe money to pay transaction fee, i think if OP save a lot of money, put a little amount to pay fee is better than save his money and he can't control it.

mkmdoc

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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 you should use your own wallet, so you can control the private keys. I recommend Blockchain or Coinbase wallet. If you still want an exchanger, i think Binance is a good choice.

Using your own wallet will always helps you to control the transactions. One more thing we have to remember is as long as if you don't share the private key with others you will be on safe hands. Yes, binance is one of the bext exchange for exchanging your tokens.

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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?

The OP is from January.
Since then a lot of things has changed.
But i am still confused that OP is wondering for safe a wallet?
If yes, then i can suggest you to try Blockchain wallet.
It has the best ever security possible. Every time you log in, it requires an email confirmation.
And about the fees thing, it's pretty normal and depends on blocks.

Cherylstar86

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Actually keeping our funds secured must be a basic and first priority for every trader, most specially when we hold a lot of tokens. You don't know when is the best time to sell it, that's why you're responsible for its safety because you're future profit will be your liability.

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I use most often exchange Binance. You can also use it for trading, because it is the most popular and convenient exchange. And most importantly, it is safe.

Maybe security is the right reason to choose binance, because recently IDAX got the issue of IEO scam.
it's hard to believe in another exchange right now.
I think the same thing that security is an important factor for saving assets and trading.

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I use most often exchange Binance. You can also use it for trading, because it is the most popular and convenient exchange. And most importantly, it is safe.

It is not about the reliability of the exchange, the safety is the main concern in this discussion. Although, it can not replace the hardware wallets in terms of safety, exchange can be used as a hot wallet for daily trading activities. Popular exchanges are not going to give back the stolen funds, I have seen so many broken promises.

Kiweikoo

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Quote from: Astvile on May 05, 2019, 05:35:38 AM

You should buy a ledger wallet/coldwallet to store your bitcoins in for future transactions.Or if you want go to top reputated cryptocurrency exchange out there like binance and many more.Just make sure to turn on 2FA for each account youll be creating

That is right, You need to have your 2FA activated on the account you have on a certain exchange even if it is not Binance. This is important. In addition, you need to have strong passwords as well. I have seen people who have gotten their accounts hacked despite the 2FA activated. So having extra security is not a bad thing. Exchange does matter here. You are less prone towards hacks and attacks if you are on the best exchange because they have normally the best shielding system.

futureofeth

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Quote from: Romanianz on May 02, 2019, 11:06:07 PM

Quote from: fndsr on April 22, 2019, 03:44:11 AM

I recommend saving assets in the hardware wallet, but the question is whether you are trading daily or trading monthly, if daily you can use large markets such as binance, huobi, okex etc., but if you trade monthly, I recommend keeping the wallet hardware and when you trade you can directly send to the market and when you profit send again to hardaware wallet, don't save too long in the market, if you are worried about your assets

indeed to be able to store assets that you have that are safer you can store them on hardware but when your assets don't have a large amount it doesn't really matter, you store them in a wallet like blockchain.info or on myetherwallet, don't ever store assets in place the exchange is too long because it's too risky.

Yes, Keep holding them in the exchange has higher risk so it is good to transfer them to your own wallets which will help you to stay from thefts happening to the exchanges. Previously we have seen many scams who are holding the coins on the exchanges so it is always good to transfer your coins to the concerned wallets. Yes, if you have high holding then it is good to store them in hardware wallets.

Aivaryamal

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The safest option is, of course, decentralized exchanges, but they are not yet clear for everyone to use, for example, Forkdelta, and I often use Binance, Bittrex, Idex, a fairly clear interface and a good trading volume

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Quote from: Landak on May 05, 2019, 04:00:05 PM

Currently binance is considered the safest to save your balance in a market exchange and don't forget also to set 2FA BUT it's not recommended that you save too long in exchange wallet. The binance CEO once made a warning tweet about this too, when cryptopia was hacked.

Never consider any exchange safe to store your funds even if it is more reputed because reputed exchange will be the target of hackers then only they can make huge money.Bisnce is best exchange for trading but not for storing just like any other crypto exchange.

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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?

If you want to keep your funds safe then buy a hardware wallet like Trazor or Nano Ledger .
It would be the safest wallet to use and don't leave your crypto on online wallets because they are prone to hacking .

The ability to hack online wallets is very low because they are raising higher security to create safety for investors. I think using wallet online will not be a problem if it is a Coinbase or Blockchain because these are the top 2 wallet I often use to keep my assets. Of course, Ledger will still have the hard wallet that I need to buy if I have many important assets to keep for the long term so the possibility of hacking will be very unlikely if I know how to secure my property.

In the evolution of technology, security is very complex. It is very important to make safety and security as the topmost priority. It appears that almost every single day there are reports of major hacking . As the number of hacks increase, consumer desires for security increase as well. There are multiple factors of vital safety and security practices that can help protect funds. Secure your wallet, it is best to find a wallet with security measures. Users should always have at least two digital wallets for trading/transactional purposes and used for storing savings. Additionally, make it a habit to use a password manager and strong passwords.

Right, the more sophisticated technology of course the method for hacking will be more varied, and that forces you to increase the security of your money in online. innovations will continue to be made to increase security such as the arrival of hardware wallet, 2fa or other thing. I'm sure in the future security will be far more sophisticated too

Landak

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Currently binance is considered the safest to save your balance in a market exchange and don't forget also to set 2FA BUT it's not recommended that you save too long in exchange wallet. The binance CEO once made a warning tweet about this too, when cryptopia was hacked.

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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.

Hope you still finding crypto worth your time. An Exchange which I could recommend to use is binance but unfortunately not all coins are listed here so you will be forced to use decentralized exchanges and others.

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.

First localbitcoins is not meant to be used as a wallet service and for the safety of your coins, use a wallet which gives you access to your private keys, something like a vanity wallet would be good or coinomi wallet is equally good

Quote

Im still learning to trade but im pretty serious about it. Can you recommend me a good exchange that hasn't been hacked yet?

At the moment BINANCE is at the top, go for them

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Indeed, today there are a lot of options on how to keep your money safe. The main thing is information literacy about your stay on the Internet. It is enough to listen to the advice on this topic and draw the right conclusions. The only important thing is that you never need to rush and fuss. Before each transaction, it is necessary to recheck everything qualitatively. And then your money will always be with you.

Astvile

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You should buy a ledger wallet/coldwallet to store your bitcoins in for future transactions.Or if you want go to top reputated cryptocurrency exchange out there like binance and many more.Just make sure to turn on 2FA for each account youll be creating

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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?

First of all, an intelligent crypto-user will never keep his coins in an exchange, no matter how secure or safe it is. Because in an exchange you don't have the control over the private keys to your coins. In case the exchange is hacked or attacked, you will lose the access to your coins. I would advice you to store your coins in a secure online wallet such as Blockchain.info, where you can control the private keys.

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Quote from: Omega Weapon on February 27, 2019, 11:35:14 PM

Quote from: Caladonian on February 13, 2019, 10:27:16 PM

It keeps repeating itself, most of those who store their coins inside exchange are hoping to easy up the process and avoiding transaction fees, not knowing that chances of being hacked is always there no matter how they trut the exchange, we should all practice to remove our funds after the exchange already executed to protect our investment.

Learning it from the hard way is more regretful than taking some delays and paying for some fees.

It is really ironic that the reason people keep their coins in exchanges is to save money on fees when the fees that you need to pay for a transaction are worth just a few cents but the losses that you can suffer are enormous in comparison, this is like all of those people that do not buy a hardware wallet and keep their cryptocurrency holdings in an infected computer only to lose it all.

The first thing is to look for a nice and secure exchange I will suggest you Binance and Coinbase. And not all the exchanges are so prone to hacking. Binance and Coinbase are way too shielded against the hacking. Making use of a hardware wallet is another good step towards making wallet protected. Two factor authentications add extra addition to the security.

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