Only keep the altcoins that you use for short term trading on an exchange.
Those you want to hold long term, keep them in your private wallet.
Topic: Is it safe to leave Altcoin in Exchange - page 5. (Read 1213 times)
No, it is not safe to leave Altcoin in exchange.. An exchange is regarded as a marketplace in which cryptocurrencies are traded. The core function of an exchange is to ensure fair and orderly trading, as well as efficient dissemination of price information. Exchanges are essentially big money targets for hackers who are constantly developing new ways to steal cryptocurrencies from people. Hackers know that exchanges are mostly honey-pots, filled with private user information, and more importantly bitcoin that can be virtually instantly stolen and transferred away to an anonymous wallet. Exchanges do not provide you with any private keys, once your Altcoin is on an exchange its not technically yours anymore. The exchange just owes you that coin, much like a bank owes you any money you deposit.
Leaving altcoins in exchanges is a risky to do because there are many complaints where they stored there coins in a exchange and suddenly they disappear. Do not leave your valuable untended just like said in many establishments , and its like also in cryptocurrecies that do not leave also your altcoins unatended in exchange , it maybe stolen or being gone without your presence. It is better to stored your altcoins in your private wallet rather than in exchange if you do not sell it immediately.
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 not trading every day! You do not store all altcoin on exchange! Only you hold your coin is safe! Other way may be have risk! 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're only safe when you have your coins in a hardware wallet and keep the recovery seed secured. Any exchange could get hacked anytime and that means you'd lose your funds, even if you have blocked the withdrawal from your account.
How do you earn interest when you hold your coin in Bitfinex? I've never heard something like that before. I wouldn't trust exchanges usually but if we talk about 2-3 months time frame I would trust Bitfinex though.
I'm not very good at this issue, but I agree with many. It's definitely not safe. I think you should think again and find a safer option!
Definitely is not safe to keep them in an Exchange. It is understandable to take a risk if you need it every day for trading, but otherwise just don't do it.
Exchanges are constantly faced with attacks by hackers. It is very not safe to keep a large amount of money there. Here again there was a message that huge sums were stolen from the Japanese stock exchange. Your personal wallet does not represent much interest, but the exchange with a huge turnover is a coveted piece of cake for scammers of hackers.
If you read the latest news about the hacked exchange and the stolen XEM, you will probably realize that it is is very dangerous to store coins at an exchange. If you bought a coin for long-term storage withdraw it from the exchange.
Not safe of course
Even yesterday the biggest ever hack from exchange happened
https://www.coindesk.com/coincheck-confirms-crypto-hack-loss-larger-than-mt-gox/
You shoud keep some basics rules about managining your BTC & altcoins
Rule 1: A True HODLer Does Not Sell Their Coin.
Rule 2: A True HODLer Buys the Dip.
Rule 3: A True HODLer Remains Steadfast In Spite of FUD.
Rule 4: A True HODLer Keeps Their Coins Off Exchanges and Online Wallets.
Rule 5: A True HODLer Buys Goods and Services With Their Coin.
Rule 6: A True HODLer Spreads the Good Word.
Rule 7: A True HODLer Does Not Get FOMO When Another Coin Rises.
Rule 8: A True HODLer Will Run Their Own Full Node.
Even yesterday the biggest ever hack from exchange happened
https://www.coindesk.com/coincheck-confirms-crypto-hack-loss-larger-than-mt-gox/
You shoud keep some basics rules about managining your BTC & altcoins
Rule 1: A True HODLer Does Not Sell Their Coin.
Rule 2: A True HODLer Buys the Dip.
Rule 3: A True HODLer Remains Steadfast In Spite of FUD.
Rule 4: A True HODLer Keeps Their Coins Off Exchanges and Online Wallets.
Rule 5: A True HODLer Buys Goods and Services With Their Coin.
Rule 6: A True HODLer Spreads the Good Word.
Rule 7: A True HODLer Does Not Get FOMO When Another Coin Rises.
Rule 8: A True HODLer Will Run Their Own Full Node.
It is safe but not 100%. There is no such thing as 100% safe, even at the top exchange still have flaws on its system. There's still a chance that it will get hacked. But we have to trust the developer not to. I've haven't experienced that. I hope not to.
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
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 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 don't have any first hand experience in bitfinex but most of my friends who uses that never had any problem at all and they also do leave their investments there though I won't say any platform is 100% safe I guess there are always risks but its much safer against other options for the time being.
Since you are not buying and selling with your crypto then it's best to move them in your private wallet. No exchange is safe. You are thinking that you are locking the withdrawal but what will happen if the entire exchange gets hacked. We witnessed these few times. So my advice is move your crypto to your private wallet and then go to sleep :-) Wake up when you need to. 
Hope this helps.
Hope this helps.
Hi! I say its not safely becose if the exchange where u leave ur coins has to be hacked up u lose all u have,u need to transfer ur coins to ur wallet,then to cold storage
its like i do becose many times i hear lot of peoples get hacked or they lose money on the exchange.Make ur descision what is the best for u,good luck!
its like i do becose many times i hear lot of peoples get hacked or they lose money on the exchange.Make ur descision what is the best for u,good luck!
No it is not safe. but we all leave altcoins in exchanges. Because we have keep there to make fast trades and also it is only way to put stop loss. if you keep them in wallets you waste your time during a pump or dump.
It is not safe to leave altcoin in exchange platform . Crypto currencies dealing is a risk . you can never tell what will happen so to me it is not safe to leave large amount of altcoins in exchange.
I keep mos of my coins in exchanges as I think that with 2fa it is safer than just having them on an wallet like MEW for example, as someone would need to have your cell and password to access them
You can choose a wallet like binance. I think it is safe and protect your account with 2FA.
If you contunue like that, you won't increase your coin
If you contunue like that, you won't increase your coin
Jump to: