Is it safe to leave Altcoin in Exchange - page 11.

Tapyaks72

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Quote from: olubams on January 24, 2018, 12:38:46 AM

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 ?

This is one of the most ridiculous decision you want to make because no matter the reputation of the exchange site you are leaving the coins, they are still susceptible to attacks which is something you should prepare yourself for. I am not sure the exchange site that add interest on your balances but if you want to keep long term as you have said, its best you just use a desktop wallet or offline wallet and save yourself the stress of having to change password every five days which does not matter if your the exchange becomes vulnerable.

You should always bear in mind while your account in exchange site there are lot scammers waiting an opportunities to take away your balances it seems that your giving them a hint about your balances,it become a object of their interest. yeah that's correct you shouldn't keep your coins off guarded you can put your coins to a offline wallet so that there is no way they can find opportunity to access your coin.

nextel

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Next Generation Agreements for Everyone on The Eth

Quote from: zackthemack on January 24, 2018, 07:23:34 AM

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 ?

Man neve leave coins on exchange if u wont trade. Hitbtc for example will make your life difficult. A lot of exchanges are not reliable.

You are right, there's no more secure wallet than your own wallet because it's painful that you lost your coins not on your watch. Hitbc, Bitfinex and Bittrex are some of the exchange sites that has been hacked and their clients lose their coins especially Bitcoins and Ethereum.
It's better safe than sorry. Only transfer your coins if you do trading otherwise pull them out as soon as possible.

Blakscorpion

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CryptoFan

You have to understand that if there is a security leak on the website where you store your coins, anybody can steal those ones.
Because an exchange is a website with servers where are stored your private informations about your coins.

On the contrary, when you uses wallets like myetherwallet, you don't store your coin on a server, this is just an interface that make the communication between the blockchain and your computer.
So as soon as your coins are in the blockchain, they are safe. Except if you loose or give your password to somebody of course.

nextel

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Next Generation Agreements for Everyone on The Eth

Staying your coins in the Cryptocurrency exchange is risky because there are so many attacks on every exchange website today and while you make some trading and exchange some hackers are trying to penetrate the everything possible holes so that they could get or steal free money from the users.
Stay your coins if you're doing trading otherwise it's not a safe wallet like you're using in personal.

zackthemack

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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 ?

Man neve leave coins on exchange if u wont trade. Hitbtc for example will make your life difficult. A lot of exchanges are not reliable.

boyjackyou

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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 ?

If you want to get interest on holding the coins you have mentioned above you will need to maximize the market potential,try to trade these coins with the other alts so you can make a lot of profits/interest from time to time but if you dont have intentions to trade these it is better to store these with a hardwallet,i suggest a hardwallet like ledger nano s ive been using that for about a year with no hassle.

supermine

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

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

No,because you are not controlling the private keys of exchange wallet so they can access your wallets at any time.So do it your own risk!

But you can give the little more protection therough 2FA authentication and other security measure also available like IP authorization.But still it is not 100% safe to leave the crypto currency on exchange wallets.

I hope OP will lock this thread soon to avoid spamming of this thread.

Manchumichael

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Quote from: Stavri on January 24, 2018, 06:28:36 AM

It is not safe if the exchange is centralized. we have seen many cases that users lost their money in exchanges. But there is no other way to put stop loss and stop loss is something very important for crypto traders.

Yes putting our coins in exchange site is not advisable, only if you do a day trading, then it is ok, but you don't have any plans to sell your coins so better withdraw your coins and keep it in your desktop wallet. I always prefer desktop wallets don't go for online wallets also. In some cases, if we don't have desktop wallets then you can put your coins in an online wallet. But never keep your coins in exchange sites.

pat231

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Yes ofcourse its depends to the market if there security is good and have great security features to be safe and hard to hack their website.

Marco Ambrusini

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you can leave altcoins on exchanges but if you have plans of hodling it for a very long time then its advisable you move it on exchanges.

Stavri

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It is not safe if the exchange is centralized. we have seen many cases that users lost their money in exchanges. But there is no other way to put stop loss and stop loss is something very important for crypto traders.

imperatron

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I think it is safe to store your coins on exchanges like Bitfinex, Bittrex and Binance, but it is not safe on all exchanges so you should store your coins on a local wallet to make sure that they cant get hacked. I always store my coins on a wallet like trezor or ledger nano Wink

Sebas.tian

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Leaving your altcoins in your account in exchanges is not safe. It is better if you'll get a hardwallet where you can store or hold your tokens in. It is 100% safe in wallets rather than keeping it in your exchanges account. Also,some exhanges terminate accounts that are inactive. If you want to keep your coins for a long time,then get a wallet for exchanges can be hack.

cryptodagger

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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 ?

No,exchanges isnt a wallet,you need to trade when you put your coins in any exchanges,and according to most of the exchanges you need to make trades or they will terminate you account.If you dont have plans to trade your coins it is better to get a hardwallet im using ledger nano s,cheapest but secured hardwallet today.

RomanPetrush

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100% is not safe to leave it there, and you know why. Just your money are in the others pockets, in case of closing the exchange you loose your money.

Rhaiyah

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Quote from: alt-fire on January 24, 2018, 04:56:16 AM

if you buy altcoins for a long time, it is better not to leave Altcoin in Exchange.
if you store on the stock exchange, then not on one

If you want your altcoin to be safe I think you need to save your coin in hard wallet or a wallet that needs a private key then just go to the exchange if you want to trade. Be careful to your coin you need to keep it safe if you don't want to lose it.

HolaHey

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If you are going to use them (i.e. trade), then leave in Exchange. But if you just wanna hodl - you'd better withdraw it to the cold wallet. The reason is pretty simple - exchange may shut down or be hacked

Malamok101

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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 ?

I dont think so but if the site shutdown all your money will lost.

alt-fire

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if you buy altcoins for a long time, it is better not to leave Altcoin in Exchange.
if you store on the stock exchange, then not on one

neinnein125

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VTOS

Nope its very unsafe. All coins should be actually deposited in their own wallets but I know its very hard thing to do and people prefer using exchanges.. I think it might be be used in quick moves but not more.

Topic: Is it safe to leave Altcoin in Exchange - page 11. (Read 1213 times)