Many exchange issues with hacking and I am never trusted with this opinion because they have more safety secure with their exchange site and impossible some exchange could be hack, just an ideas from developer how to make member trusted with their reason but in the fact they stole member money with hacking reason. Better see how assets have by the owner if their exchange hack, will his assets keep increase up or not.
You are 100% right because the security arrangements of an exchange are the responsibility of the authority of that exchange. But how can an exchange's security system become the focus and be hacked. This is just an idea because the authorities blame the hacking by killing people's money. 
Topic: Two Australian exchanges collapsed recently, remember to withdraw your bitcoin (Read 304 times)
December 17, 2021, 06:28:10 PM
December 17, 2021, 06:07:44 PM
Reminder that the bitcoin you hold at exchanges is not yours. Withdraw your bitcoin from exchanges while you still can.
Some people think that their bitcoin is safer at an exchange than in their own custody. As you can see from these recent news, that's not true at all. "Not your keys, not your bitcoin".
Learn how to keep your bitcoin safe in cold storage instead of keeping it in exchanges.
If that we use an exchange that is just for a trade, not for holding. Even staking isn't a good idea since it wasn't our control as well but the exchanges.
Its never been a good idea on storing up your coins on an exchange but if its just for the intent of trading then be wise
on when to pull it out very often.
December 17, 2021, 05:21:52 PM
It is easy to predict that some places will not be as good as imagined, they may collapse, bankrupt, hacked or whatever, even could be just pure old scam and that's it as well and we will not be able to take out our money in most cases. This is crypto, if you are not careful enough and you do not have any legal basis whenever something goes wrong, then you should not keep your money in any of these exchanges. I keep hearing about tens of millions of dollars gone because one exchange collapsed and I never really understand why would people keep their money in those places?
For example, I have ZERO dollars worth money in any exchange right now, not that it is like that all the time, I have some time to time but right now it is zero. I just have a wallet that I send all of my money into and that is all that I need without anything extra, you should try that as well.
For example, I have ZERO dollars worth money in any exchange right now, not that it is like that all the time, I have some time to time but right now it is zero. I just have a wallet that I send all of my money into and that is all that I need without anything extra, you should try that as well.
December 17, 2021, 05:13:35 PM
Have been telling lot's of people to stop leaving their coin not only bitcoin, you don't have to leave all your coins in your exchange wallet and from my research I notice that most people that are always leaving there funds on exchange are the newbies. After buying a coin make sure you transfer the coin back to your custodial wallet address and make sure you don't share your private key with anybody or store your private key where anybody can have access to it to avoid hack because for few day's have been receiving complain from my friends that there wallet is been hacked, you have to secure your private key.
December 17, 2021, 04:25:34 PM
I know there are people who still holds coins in Tier 1 exchanges but the risk is really high as we have seen the top exchanges getting in trouble and once that happens it is a battle when you will get back your coins.
The reputation of exchanges got nothing to do with the protection of out assets. Hence, whether it will be tier-1 or tier-5, we should always develop the habit of withdrawing our cryptocurrencies immediately after closing the trades. I do see people are developing their own reasons to keep on holding cryptocurrencies within exchanges but at the end of the day they are the only bearer who are going to suffer if anything like hacking happens hence no reason is not going to help anyone.This is the reason why most of the exchanges we have right now are centralized so that if there will be future problems that will occur, the certain exchange will still have to contact us and inform about the current problem so we are still given chances to withdraw our cryptos.
Why that is not possible with decentralized exchanges? Because, I remember some dex are providing optional registration along with email ids and and other details hence they also may contact if any emergency happens. December 17, 2021, 04:15:47 PM
Well sad to say that most centralized exchange now has been being compromised and it is prone to hacking, this reminds us that storing your coins on an exchange is not a good idea. The best thing to do after having trading is just to pull out your coin and transfer it into your non-custodial wallet which is very safe. The good thing to know that these two exchanges let their user withdraw the fund and did not turn into an exit scam which is most shady exchanges did. Do you think is this a sign that traders should use a decentralized exchange?
I guess its always good to use a decentralized exchange since its non accessible by the government but the problem is if it happens that there will be unexpected troubles in the future, you'll find it hard to trace the exchange and withdraw your coins. This is the reason why most of the exchanges we have right now are centralized so that if there will be future problems that will occur, the certain exchange will still have to contact us and inform about the current problem so we are still given chances to withdraw our cryptos. That's the advantage of having centralized exchanges. December 17, 2021, 02:56:32 PM
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Some people think that their bitcoin is safer at an exchange than in their own custody. As you can see from these recent news, that's not true at all. "Not your keys, not your bitcoin".
Learn how to keep your bitcoin safe in cold storage instead of keeping it in exchanges.
How many experience does one need to understand that keeping your coins in exchanges are not the safest option in the cryptocurrency space. I know there are people who still holds coins in Tier 1 exchanges but the risk is really high as we have seen the top exchanges getting in trouble and once that happens it is a battle when you will get back your coins. Some people think that their bitcoin is safer at an exchange than in their own custody. As you can see from these recent news, that's not true at all. "Not your keys, not your bitcoin".
Learn how to keep your bitcoin safe in cold storage instead of keeping it in exchanges.
Only move coins to exchanges if you are planning to take a position, if not it is always safe in your own standalone or hardware wallet.
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December 17, 2021, 01:43:25 PM
Reminder that the bitcoin you hold at exchanges is not yours. Withdraw your bitcoin from exchanges while you still can.
Some people think that their bitcoin is safer at an exchange than in their own custody. As you can see from these recent news, that's not true at all. "Not your keys, not your bitcoin".
Learn how to keep your bitcoin safe in cold storage instead of keeping it in exchanges.
If that we use an exchange that is just for a trade, not for holding. Even staking isn't a good idea since it wasn't our control as well but the exchanges.
Its never been a good idea on storing up your coins on an exchange but if its just for the intent of trading then be wise
on when to pull it out very often.
Meanwhile, if this issue persists all the insecurity in crypto exchange will make the Fed intervene and it may affect the decentralization of crypto if care is not taken.
December 17, 2021, 01:24:21 PM
The exchanges security is already highly protected but we know no system is safe because the hackers could be the security person that has more experience and more knowledge about how to hack the system and it will happen.
Exchange's hack is sometimes happen, but there are also the bad guys pretending to be hacked but they took away the money for theirself.
So the best thing that we can do is securing our money by carefully surfing on the internet with our assets.
Exchange's hack is sometimes happen, but there are also the bad guys pretending to be hacked but they took away the money for theirself.
So the best thing that we can do is securing our money by carefully surfing on the internet with our assets.
It is easier for a hacker to find a vulnerability in a contract and then sell millions of dollars worth of coins than to hack a cryptocurrency exchange. The leading exchanges employ good specialists who ensure smooth operation. Obviously, with their knowledge, they could do the same quality work on hacking exchanges.
December 16, 2021, 11:30:43 PM
Many exchange issues with hacking and I am never trusted with this opinion because they have more safety secure with their exchange site and impossible some exchange could be hack, just an ideas from developer how to make member trusted with their reason but in the fact they stole member money with hacking reason. Better see how assets have by the owner if their exchange hack, will his assets keep increase up or not.
The exchanges security is already highly protected but we know no system is safe because the hackers could be the security person that has more experience and more knowledge about how to hack the system and it will happen.
Exchange's hack is sometimes happen, but there are also the bad guys pretending to be hacked but they took away the money for theirself.
So the best thing that we can do is securing our money by carefully surfing on the internet with our assets.
December 16, 2021, 07:28:16 PM
Well sad to say that most centralized exchange now has been being compromised and it is prone to hacking, this reminds us that storing your coins on an exchange is not a good idea. The best thing to do after having trading is just to pull out your coin and transfer it into your non-custodial wallet which is very safe. The good thing to know that these two exchanges let their user withdraw the fund and did not turn into an exit scam which is most shady exchanges did. Do you think is this a sign that traders should use a decentralized exchange?
December 16, 2021, 07:19:21 PM
No one will think that saving assets in exchange is secure. However, if we are still using them as trading assets, we cannot leave exchanges because we need those assets for trading and earning profits in the exchanges.
But you are right, not your keys if they are in the exchanges.
That is why I personally will always consider about the top exchanges to put my assets there and also for trading. Why? because top exchanges with high reputations may have lower risks of being collapse or others. Although it of course doesn't guarantee because top exchanges can be also attacked or hacked. But at least they will be responsible. And once if they are collapsing, they will commonly give us chance to withdraw our assets, that is why we must utilize the chance.
Well, all decisions will require risks, higher or lower, that is our choice for us.
But you are right, not your keys if they are in the exchanges.
That is why I personally will always consider about the top exchanges to put my assets there and also for trading. Why? because top exchanges with high reputations may have lower risks of being collapse or others. Although it of course doesn't guarantee because top exchanges can be also attacked or hacked. But at least they will be responsible. And once if they are collapsing, they will commonly give us chance to withdraw our assets, that is why we must utilize the chance.
Well, all decisions will require risks, higher or lower, that is our choice for us.
December 16, 2021, 06:59:07 PM
Reminder that the bitcoin you hold at exchanges is not yours. Withdraw your bitcoin from exchanges while you still can.
Some people think that their bitcoin is safer at an exchange than in their own custody. As you can see from these recent news, that's not true at all. "Not your keys, not your bitcoin".
Learn how to keep your bitcoin safe in cold storage instead of keeping it in exchanges.
If that we use an exchange that is just for a trade, not for holding. Even staking isn't a good idea since it wasn't our control as well but the exchanges.
Its never been a good idea on storing up your coins on an exchange but if its just for the intent of trading then be wise
on when to pull it out very often.
December 16, 2021, 06:42:51 PM
Reminder that the bitcoin you hold at exchanges is not yours. Withdraw your bitcoin from exchanges while you still can.
Some people think that their bitcoin is safer at an exchange than in their own custody. As you can see from these recent news, that's not true at all. "Not your keys, not your bitcoin".
Learn how to keep your bitcoin safe in cold storage instead of keeping it in exchanges.
If that we use an exchange that is just for a trade, not for holding. Even staking isn't a good idea since it wasn't our control as well but the exchanges.
December 16, 2021, 02:40:26 PM
Everyday lots of news arrived in the market most of them are fake. If anyone listen all the news I think it will be difficult for him to trade. Of course you have to understand which should be legit and which are can be rumors. There are so many exchanges around the world some of them are fallen in trouble. This is a temporary problem.I think the market will go back to the previous position.
December 16, 2021, 02:31:44 PM
Some people think that their bitcoin is safer at an exchange than in their own custody. As you can see from these recent news, that's not true at all. "Not your keys, not your bitcoin".
Learn how to keep your bitcoin safe in cold storage instead of keeping it in exchanges.
Very, very important, but some people never know that at all. I don’t know how many times that we would have to say this before some people are going to learn that exchanges are not a good place for storage, you should only keep the money you’re using for trading on an exchange and that’s all.Learn how to keep your bitcoin safe in cold storage instead of keeping it in exchanges.
And after you are done trading and you have gotten your profit , you should simply move the money to your main storage wallet. That’s just it for me. People have lost money due to keeping it in centralized exchanges. If it’s not that the exchange is getting hacked, then it would end up being that their business has collapsed, which in either ways would affect their customers or users.
December 16, 2021, 01:39:03 PM
Only who trades more often will keep their cryptocurrencies in the exchange wallet because they can't simply withdraw, deposit back again for every trade since withdrawal cost for Bitcoin starts from $20 even with the lowest fee structure but the remainder is for the people who uses exchange as their wallet should move even if the withdrawal fee is a burden for them if they don't want to lose all their assets.
December 16, 2021, 01:33:19 PM
As long as you have no access to private keys, nothing is safe, whoever thinks keeping funds in exchange is much safer than in personal wallet should better think again, anything happened to the exchange you will also be affected and even if the exchange volunteer to pay all affected users it will take some time and you will be left out of making profit for the time duration.
December 16, 2021, 12:44:49 PM
Nevertheless, you do not need to be dependent on the decision of the clerk, who will have to make a decision to compensate or not for the next hacking of the exchange, and keep only those funds that you need for daily trading on the exchange.
Of course not. But I just adding that kind of solution as part of trust to those exchanges. Somehow I know the risk of it cause there is a chance that they might not return it due to heavy losses or for some whatever reason. But you are right, not gonna need to put more than what you trade on a cex and keep it on non custodial wallet. December 16, 2021, 11:01:28 AM
...But good news that some exchange compromise such as Binance and Kucoin managed to keep it safe and even return funds of those affected.
It is this solution to the problem associated with hacking, when Balance and KuCoin took all the losses, fully compensating for the losses of their participants, inspires confidence among market participants in CEX. Nevertheless, you do not need to be dependent on the decision of the clerk, who will have to make a decision to compensate or not for the next hacking of the exchange, and keep only those funds that you need for daily trading on the exchange.
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