Is it safe to leave Altcoin in Exchange

Jancuki

member

Activity: 789

Merit: 10

Quote from: tigerk6 on January 24, 2018, 12:21:47 AM

Hi,

I want to earn interest on my coins (BTC,ETH,LTC) therefore I prefer to leave these in Exchange for funding purpose, however I have No plan to sell or exchange with other coin in near future.

I always keep my withdrawal blocked by changing password every 5th day.

Is it 100% safe to keep crypto's in exchange like Bitfinex or others with withdrawal locked ?

I advise you not to keep it for a long time, if just keeping it in a few days I think it does not matter. Because saving coins on the exchange is very vulnerable to hacking.

emmybd

full member

Activity: 1218

Merit: 112

You can keep coins in exchange only if you are trading frequently. Otherwise, it is not safe to keep coins in exchange for a long-term, as exchange can get hacked. It would be more safer if you keep your coins in wallet.

bubidan.id

jr. member

Activity: 185

Merit: 2

Wow... It's really brave son. It's Not Safe. Keep your assets in your wallet offline or hardware wallet and save the private key. Don't dare to save your assets in exchange.

adrianto1995

full member

Activity: 714

Merit: 160

Quote from: tigerk6 on January 24, 2018, 12:21:47 AM

Hi,

I want to earn interest on my coins (BTC,ETH,LTC) therefore I prefer to leave these in Exchange for funding purpose, however I have No plan to sell or exchange with other coin in near future.

I always keep my withdrawal blocked by changing password every 5th day.

Is it 100% safe to keep crypto's in exchange like Bitfinex or others with withdrawal locked ?

If you want to keep your crypto for a long time is better to store your crypto in your own wallet, we don't know what will happens with the exchanger that we trust to store our coins in the next day (like hacked). Except if you just store your crypto for a short time for day trading, you can store your crypto in the exchanger. Make sure your exchanger is has a high-security system to protect from hackers.

babsjoe

full member

Activity: 490

Merit: 100

Generally speaking, it is not a good trading practise to leave your coin on any platform where such platform does not give you control over your asset. However, there are many reputable centralized exchange that are trustworthy!

GmBoom

jr. member

Activity: 322

Merit: 2

It is best to store your coins and altcoins if possible to your own wallet, and not in the exchange wallet. Its too risky, considering that anytime, there is a chance that the exchange will be attack by any some sort of hackers. If this really happen, you could lose all your coins in the exchange.

mezzaluna

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Activity: 518

Merit: 23

★Bitvest.io★ Play Plinko or Invest!

That depends on the security of the Exchange you are leaving it. There are a lot of exchanges which recently have reports of being hacked or even news about that their security is compromised. I guess it is safe to leave only small amounts of Alternate Coins but not hug amounts because they might find ways to hack and get that. It is also safe to keep in mind to not leave alternate coins in this exchanges because others can easily access this as long as they have the Private Key.

nakamitu

newbie

Activity: 52

Merit: 0

You keep it, until a few years you pull it out, but say a few days or months

blu.storm

member

Activity: 320

Merit: 17

free space pm if interessed

no it is not safe to keep your altcoins on exchanges, i recommend to keep only the bare minimum or if you do day trading, change often password helps but not grant a security to 100%,a hardware wallet is the safest thing ever

FreddySelvig

newbie

Activity: 125

Merit: 0

If you keep a deposit on a well-known stock exchange such as Bittrex or Binance then this is completely safe. Online wallets break even more often than stock exchanges Undecided

But it is better to store in different places of course

Xclusive5

full member

Activity: 672

Merit: 100

I think if you are a day trader then you don't have any choice than to leave your coin on exchange but if you are not trading your coin then its better to store it in hardware or other wallets not exchange wallet.

Agamemnus

full member

Activity: 267

Merit: 100

It is not safe to leave any of your coins in exchanges but I can understand why people leave their altcoins in exchanges as a means of storage. There are a lot of coins out there with so many wallets that it is not just possible to get all of the coins wallets. That aside, leaving your coins in an exchange puts your coins at a lot of risks because if the exchange gets hacked then you can end up losing all of your coins.

kateycoin

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Activity: 882

Merit: 104

Quote from: tigerk6 on January 24, 2018, 12:21:47 AM

Hi,

I want to earn interest on my coins (BTC,ETH,LTC) therefore I prefer to leave these in Exchange for funding purpose, however I have No plan to sell or exchange with other coin in near future.

I always keep my withdrawal blocked by changing password every 5th day.

Is it 100% safe to keep crypto's in exchange like Bitfinex or others with withdrawal locked ?

You don't have assurance if your coin is safe in exchange because anytime hackers will attack in any website or platform so you need to careful to put your coins in exchanges mush better to use a hard wallet so you sure your coins is safe.

selinairis

newbie

Activity: 22

Merit: 0

I sure hope so because most of my coins not just altcoins are on exchanges but they are distributed in more than five exchanges due to safety reason. I think it is safer than regular wallets

gokusenpai0302

jr. member

Activity: 168

Merit: 1

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Quote from: tigerk6 on January 24, 2018, 12:21:47 AM

Hi,

I want to earn interest on my coins (BTC,ETH,LTC) therefore I prefer to leave these in Exchange for funding purpose, however I have No plan to sell or exchange with other coin in near future.

I always keep my withdrawal blocked by changing password every 5th day.

Is it 100% safe to keep crypto's in exchange like Bitfinex or others with withdrawal locked ?

Using wallet is more secure than exchanger, once I have exchanged my coins I immediately transfer it to my local wallet. Which is according to my friend he lost several coins in his wallet and he doesn't know why it happened. But of course you have to pick best exchanger out there, by reading its user review in order to minimize your lost in the future.

Perka

member

Activity: 182

Merit: 78

In General, many exchanges have more security than even keep on your wallet.But still, I would recommend choosing 5 different good exchanges and distribute them in equal shares, it will add to your reliability not to lose your savings!

AKasOO

newbie

Activity: 154

Merit: 0

I think it's safe, if the exchange you choose has a high level of security, it's also a quick way to sell your altcoin if the price is high.
If you keep altcoin and for a long time, you need to save it in your personal wallet for more security.

whiteblue

sr. member

Activity: 1246

Merit: 250

I not recommnend if you want safe your coin in long term .. we do know what happen in the future .. if you want .. you must receive all risk .. but if you want it .. find an exchange trust and have more security ..

phuongnguyen.mm.211

newbie

Activity: 26

Merit: 0

I sure hope so because most of my coins not just altcoins are on exchanges but they are distributed in more than five exchanges due to safety reason. I think it is safer than regular wallets

Dewao

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Quote from: funnynews on May 30, 2018, 05:11:32 AM

I may be a little risky but I keep all of them in the exchange because I hate the idea of using a bunch of wallets at the same time.

Its better to have my own wallet having an private key that I am the only one who know , than keep my coin in exchange because that is very risky because hackers are every where.

Topic: Is it safe to leave Altcoin in Exchange (Read 1213 times)