Topic: Safest Exchanges in the World - page 3. (Read 820 times)
No, you won't find what you are looking for. Then have to use the direct decentralized exchange. But you might not get your desired pair there. For centralized exchange, no one can assure they wouldn't hack or bankrupt. We can't read exchanges owners' minds. Anytime could change their mind and anything could happen. So I won't suggest you any exchanges on that case. DYOR.
How it can be consider as cumbersome when you're only holding on your hardware wallet, you're not doing anything lol.
There's no safest centralized exchanges, since they're holding your coins on their hot wallet. The safest exchanges would be decentralized exchanges since they're not holding your coins, it's peer to peer transaction.
Avoid other exchanges e.g. Binance, FTX, Kucoin, Coinbase etc if you're really want the most secure exchanges.
There's no safest centralized exchanges, since they're holding your coins on their hot wallet. The safest exchanges would be decentralized exchanges since they're not holding your coins, it's peer to peer transaction.
Avoid other exchanges e.g. Binance, FTX, Kucoin, Coinbase etc if you're really want the most secure exchanges.
There's no best exchange. But i agree the mentioned exchanges above at least you are insured (this is based on exchanges recent hack incidents such binance) that even a hacked incident happened your funds will stay there.
Past incidents where funds were reimbursed should not be taken as a means of insurance. The reason they were fine is because it was only a small-scale loss and there is no guarantee that the SAFU jar will be able to cover every losses if a large scale hack happens.
Don't believe in SAFU and store your coins with them in a long run, though they're trusted the best thing is to withdraw your fund after your session in trading. Never leave your coins in an exchange for a long-term purpose or don't let your coins sleep in their wallet while you're comfortable that it's safe, there's no single centralized exchange that safe nowadays.
The best golden rule was always this "Not your keys, Not your coins" we keep advice this to everyone and remind them of the correct storing of our valuable coins. The best example is that what happened to MtGox exchnage will happen again in random trusted crypto exchangers.
There's no best exchange. But i agree the mentioned exchanges above at least you are insured (this is based on exchanges recent hack incidents such binance) that even a hacked incident happened your funds will stay there.
Past incidents where funds were reimbursed should not be taken as a means of insurance. The reason they were fine is because it was only a small-scale loss and there is no guarantee that the SAFU jar will be able to cover every losses if a large scale hack happens.
Binance, FTX, Huobi and Okx are the leading exchange that least can encounter bankruptcy among all the CEX available on crypto right now.
There's no best exchange. But i agree the mentioned exchanges above at least you are insured (this is based on exchanges recent hack incidents such binance) that even a hacked incident happened your funds will stay there.Of course, when you consider such statements you're disregarding the risks and safety measures of "not your keys, not your coins" idea.
In your opinion, what are the most secure exchanges in the world, i.e. where can I be most sure that the exchange will not go bankrupt, be hacked, etc.?
Nobody knows the answer to this question.
There are some who vouch for x or tell y is better but nobody here, absolutely nobody knows their financial status, nobody knows how deep in debt or how many reserve funds they have, nobody knows the level of security they have or how bad or inexistent those are in reality.
All you're going to get ar the name of the largest and most known and that's it because something if this exchange has lasted for 4 years then it's trustworthy which can' be more false. If I were to ask what makes Binance or Huobi so secure the only answer will be that they have money and CZ said funds are safu, nobody knows the true situation as they don't have access to that data.
So bottom line, you're going to have to gamble on this and maybe in one year see that all top ]3 exchanges have been hacked while some no-name ranked 300th is still up and running.
I have been using Binance and OKX now very well and incan recommend both
Thousands used MtGox, hundred recommended it too as it worked well for them, till it didn't.
Binance was hacked once, can you say it will not happen the second time?
When it comes to centralized exchanges, the best you can do are:
1. withdraw your funds if you're not actively trading.
2. minimize how much you put in to relatively small exchanges. IMO they have less chances of properly investing in cybersecurity and being able to hold out during tough times like bear market.
3. keep yourself updated on what's going on with the exchange/s you use, sometimes there are signs you need to get out.
4. if you can, avoid them or limit your usage.
1. withdraw your funds if you're not actively trading.
2. minimize how much you put in to relatively small exchanges. IMO they have less chances of properly investing in cybersecurity and being able to hold out during tough times like bear market.
3. keep yourself updated on what's going on with the exchange/s you use, sometimes there are signs you need to get out.
4. if you can, avoid them or limit your usage.
No exchange is safe from hacking even if they are not hacked they can still freeze your money for all kinds of reasons, so when you have placed your money on the exchange you must be prepared with all possibilities to lose, for now Binance is still at the forefront but you have to be ready with KYC, Kucoin can be you use it without doing KYC with a withdrawal limit, besides looking for an exchange that you think is safe I think trading and withdrawals fees also trading volume should also be considered.
copper member
Activity: 2800
Merit: 1179
Leading Crypto Sports Betting & Casino Platform
Hello,
I know you should always have your coins on a hardware wallet.
But for my trading position I don't want to put the coins on a hardware wallet because that would be too cumbersome but I want to distribute the coins on several exchanges.
In your opinion, what are the most secure exchanges in the world, i.e. where can I be most sure that the exchange will not go bankrupt, be hacked, etc.?
I know you should always have your coins on a hardware wallet.
But for my trading position I don't want to put the coins on a hardware wallet because that would be too cumbersome but I want to distribute the coins on several exchanges.
In your opinion, what are the most secure exchanges in the world, i.e. where can I be most sure that the exchange will not go bankrupt, be hacked, etc.?
Binance, FTX, Huobi and Okx are the leading exchange that least can encounter bankruptcy among all the CEX available on crypto right now.
Why not use DEX instead of CEX if you want to play safe on this kind of market so that you still have the keys while trading at the same time. There’s just a limited option on order type but its a small compromised for the safety of your funds that you can get.
Exchanges can get hacked.
Exchanges can suffer from inside jobs.
Exchanges can get bankrupt.
Exchanges can lock your funds because of whatever laws.
Exchanges can lock your funds because of something they don't like in your KYC filling.
Exchanges can lock your funds because you got your funds from somewhere they don't like or you use your funds somewhere they don't like.
And... does anybody expect them admit that they're unsafe for your funds?!!!?
Exchanges can suffer from inside jobs.
Exchanges can get bankrupt.
Exchanges can lock your funds because of whatever laws.
Exchanges can lock your funds because of something they don't like in your KYC filling.
Exchanges can lock your funds because you got your funds from somewhere they don't like or you use your funds somewhere they don't like.
And... does anybody expect them admit that they're unsafe for your funds?!!!?
where can I be most sure that the exchange will not go bankrupt, be hacked, etc.?
Didn't you learn anything from recent cases of Celsius, Voyager, and all other centralized exchanges like MtGox? Read this carefully, ALL centralized exchanges can go bankrupt, be hacked and die, and sending coins to them you are officially not owning those coins anymore.
Exchanges are used for trading and exchanging coins, not for holding, so I am not going to recommend any centralized exchanges, but best ones probably have biggest volume.
I would recommend using decentralize exchange Bisq, so you don't have to make compromises or to worry about bankruptcy or kyc.
Exchanges can be hacked.
On exchanges, you do not have complete control over own money.
It is not advisable to have your money on exchanges.
I have been using Binance and OKX now very well and incan recommend both. For future trading, I think Huobi global is good as well but the fee for spot trading is huge. I have Huobi global account but not that active.
Other exchanges I have heard about: Kucoin, said to be recommended but I have not used it before.
Always know that some exchanges are shady.
On exchanges, you do not have complete control over own money.
It is not advisable to have your money on exchanges.
I have been using Binance and OKX now very well and incan recommend both. For future trading, I think Huobi global is good as well but the fee for spot trading is huge. I have Huobi global account but not that active.
Other exchanges I have heard about: Kucoin, said to be recommended but I have not used it before.
Always know that some exchanges are shady.
Hello,
I know you should always have your coins on a hardware wallet.
But for my trading position I don't want to put the coins on a hardware wallet because that would be too cumbersome but I want to distribute the coins on several exchanges.
In your opinion, what are the most secure exchanges in the world, i.e. where can I be most sure that the exchange will not go bankrupt, be hacked, etc.?
I know you should always have your coins on a hardware wallet.
But for my trading position I don't want to put the coins on a hardware wallet because that would be too cumbersome but I want to distribute the coins on several exchanges.
In your opinion, what are the most secure exchanges in the world, i.e. where can I be most sure that the exchange will not go bankrupt, be hacked, etc.?
Jump to: