Is it safe to leave Altcoin in Exchange - page 8.

awazieik

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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 ?

It is not safe at all to keep your crypto in exchanges. No matter how many times you change your password, you are not in charge of your private keys. Your account could be hacked even with your password. Put your funds where you have absolute control. Hardwallet etc

Winner

legendary

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Look ARROUND!

Quote from: kaineh on January 24, 2018, 03:58:13 PM

Keeping coins on the exchange is a very strange idea. It's about the same as carrying cash with you in your hand. Convenient, always accessible, but very unsafe

It's only strange if the person does not want to trade his coins during any period of the website being online.

kaineh

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Keeping coins on the exchange is a very strange idea. It's about the same as carrying cash with you in your hand. Convenient, always accessible, but very unsafe

shandiem14

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I don't recommend that to my friends. Altcoin exchange is very risky to save because they are 3rd party. if you have hard wallets or cold storage wallet. You must have it and keep your private key safe.

ufalo3

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Quote from: dumbtool45 on January 24, 2018, 07:43:08 AM

I was convinced on my bitter experience that the exchange can not be a reliable storage place for crypto currency, even top-end exchanges are burned and we saw it

I suspect that you know the answer for the question yourself. No, it is not as safe as we all want it. However, if you are deeply involved in trading and perform transactions and operations very often, you have to leave alts on exchanges.

khendjer

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There is no 100% safe method of keeping funds. There is always a chance that something will go wrong and coins will be lost or stolen even if to use hardware wallet not saying about exchanges or online wallets.

anasso

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the most safe place to store your coins is your own wallet.

if the exchange is hacked or go to bankruptcy you will get only your eyes to cry.

bitllionaire

legendary

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Quote from: jaggijagjit on January 24, 2018, 01:04:49 PM

Yes it is safe to hold your altcoins in exchange if that exchange has all the security features and you applied at your account. if you are a holder of huge quantity of any alt coin and you are not a short time trader then you can put your altcoins in offline wallets.

I do not think that it can be consider as 100% safe, in fact it is depending on the exchange also, as in previous time bitfinex exchange was hacked, so money in exchange cannot be consider as safe, i think we need to very much careful while selecting the exchange, we should select such exchange who have good security system and putting your altcoin there should be consider as more safe and secure.

prince05

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No nothing is safe, even online wallets are being hacked these days, there are also a lot of phishing sites for exchanges, one example is poloneix, I have encountered a lot of phishing site with this exchange. You have to be very vigilant and always enable 2FA for added security. still the best way to keep your coins is to store it in hardware wallets.

svojoe

legendary

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einc.io

It is not a good idea at all. Even the most reliable exchange can be hacked and you will lose all your deposit. I recommend to use wallets of particular coins you need and transfer money there.

Cryptokingind

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Hardware wallet is much better then exchange because some exchanges not have security features. but if your exchange provide you all the security features like 2FA or Gogle authenticator on login or transaction then you can keep your coins at exchange.

al1n

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Quote from: cryptoneet on January 24, 2018, 12:54:22 PM

chinese gov, leave HK alone law wise cuz they dont want an uprising and they like the taxes they pay the mainland gov.

for now

superman22

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Quote from: cryptokath19 on January 24, 2018, 12:51:31 PM

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 suggest is to make a half of altcoins on exchange and the other half should stored on your hard wallet to keep secured your all accounts. If you have on the exchange, supposedly to be have a 2FA Security so that you will keep safe your altcoins. And if you want to hold for a long term just make sure to put them on the compatible wallets rather than to sell it

I would like to make divide into three. Some you keep into exchange wallet, some you keep into software or electronic wallet and other you just cash out. Only problem for exchange is that you do not have any control by you. Even, if by any how exchange got hacked then whatever security you have none will help until or unless exchange can keep safe and protection all of their user accounts. However, without keeping exchange it is impossible to do any kind of trade.

testingbits

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I don´t think its safe to leave all your Altcoin in one place, spread them out in different places

Jonsnowstark

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I don't think thats a good idea. The best way to store your coins is in a hardware wallet. If you leave your coins in the exchange site, it is very risky. For one, your account might get hacked, two, tge exchange site itself might get hacked. There are a lot of exchanges that have experienced hacking nd ended up closing down.

jaggijagjit

member

Activity: 378

Merit: 10

Yes it is safe to hold your altcoins in exchange if that exchange has all the security features and you applied at your account. if you are a holder of huge quantity of any alt coin and you are not a short time trader then you can put your altcoins in offline wallets.

cryptoneet

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Quote from: isamuaamc on January 24, 2018, 12:41:59 PM

Quote from: cryptoneet on January 24, 2018, 12:32:05 PM

coinsmarkets took like 200m $ in coins hostage for 1 month still down.

no way dont trust smaller exchanges or sites with your coins

only exchange i trust is binance or coinbase

I almost agree with you but Binance is always facing "China risk". Chinese government can make any decision and take it into operation immediately, even if it's cease of exchanges, including Binance. Well, Binance is obviously one of the greatest exchanges, in terms of trade view, listed coins, and low fee.

binance is in HK not mainland china

chinese gov, leave HK alone law wise cuz they dont want an uprising and they like the taxes they pay the mainland gov.

TradeCrypto

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Presale is live!

It’s depend on the exchange etherdelta hack and hitbtc recent transaction fees for even deposit made me confusion now I am planing to use only binance and coinexchange for My long term holding.

cryptokath19

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Activity: 406

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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 suggest is to make a half of altcoins on exchange and the other half should stored on your hard wallet to keep secured your all accounts. If you have on the exchange, supposedly to be have a 2FA Security so that you will keep safe your altcoins. And if you want to hold for a long term just make sure to put them on the compatible wallets rather than to sell it

cryptomarvel

full member

Activity: 294

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The problem of keeping your tokens in wallet is if there is good increase in prices and you want to sell very fast before it goes back to normal, then it will be too late to shift tokens from wallet to exchange.

But don't put too much there in case of any hack.

Topic: Is it safe to leave Altcoin in Exchange - page 8. (Read 1213 times)