Topic: What is The safest trading site which we should choose? (Read 167 times)
Nothing is safe, as we know even the coincheck had recently been hacked. For me nothing is safe as long as its online. So its better not to always put all your money in any trading platform.
Actually of the trading exchanges are vulnerable in security threat so you shouldn't stay your long term investments in the exchanges the best way is for you to store in a wallet. But the best bet for me if you're exchanging is to use the top exchanges platform like bittrex and binance. We should be very careful every time as one wrong move can take away all our hard earned investment happy trading guys hope this helps!
This morning, the Japanese crypto exchange platform Coincheck was hacked and had 526 million XEM (c. USD 400 m) stolen.
But It has nothing to do with NEM - there is no issue with the tech, and according to them, the blame lies exclusively with Coincheck
Lon Wong, President of the NEM.io Foundation said: “As far as NEM is concerned, tech is intact. We are not forking. Also, we would advise all exchanges to make use of our multi-signature smart contract which is among the best in the landscape. Coincheck didn't use them and that's why they could have been hacked. They were very relaxed with their security measures,"
I want to know What is the safest trading site? I see that some trading site was hack and member of this site will be lost their money, i don't want this happen with me.
But It has nothing to do with NEM - there is no issue with the tech, and according to them, the blame lies exclusively with Coincheck
Lon Wong, President of the NEM.io Foundation said: “As far as NEM is concerned, tech is intact. We are not forking. Also, we would advise all exchanges to make use of our multi-signature smart contract which is among the best in the landscape. Coincheck didn't use them and that's why they could have been hacked. They were very relaxed with their security measures,"
I want to know What is the safest trading site? I see that some trading site was hack and member of this site will be lost their money, i don't want this happen with me.
First i am very sorry to here this hack happen again to exchanger.
Actually all people are thinking the same like you. They dont that bad thing happen to them. So always invest the afford money.
I always transfer to the stock exchange and keep there only needed to trade a number of coins. I never keep the exchanges all the coins. Any exchange is not 100% reliable. Too many risks
This morning, the Japanese crypto exchange platform Coincheck was hacked and had 526 million XEM (c. USD 400 m) stolen.
But It has nothing to do with NEM - there is no issue with the tech, and according to them, the blame lies exclusively with Coincheck
Lon Wong, President of the NEM.io Foundation said: “As far as NEM is concerned, tech is intact. We are not forking. Also, we would advise all exchanges to make use of our multi-signature smart contract which is among the best in the landscape. Coincheck didn't use them and that's why they could have been hacked. They were very relaxed with their security measures,"
I want to know What is the safest trading site? I see that some trading site was hack and member of this site will be lost their money, i don't want this happen with me.
These kind of circumstances is somehow anticipated which exchanges can really be hacked and regarding to your question about safe exchanges then there would be no safe exchanges because if we do talk the word "safe" then its 100% prone to hacks which we know its not possible as of these days because anything online can really be hacked this is why its advisable not to store huge amounts of coins or funds on your exchange account. But It has nothing to do with NEM - there is no issue with the tech, and according to them, the blame lies exclusively with Coincheck
Lon Wong, President of the NEM.io Foundation said: “As far as NEM is concerned, tech is intact. We are not forking. Also, we would advise all exchanges to make use of our multi-signature smart contract which is among the best in the landscape. Coincheck didn't use them and that's why they could have been hacked. They were very relaxed with their security measures,"
I want to know What is the safest trading site? I see that some trading site was hack and member of this site will be lost their money, i don't want this happen with me.
I’m a crypto currency trader . I’m work in this online industry around 5 year ago and in this time I make a some knowledge about crypto currency trading. I’m see so many trading site came into online but I’m only choose binance and bittrex because it is very trusted so you can use it for without any doubt.
In my opinion there is no safest trading website because although there is one, it is impossible to know which one is safest because they are all 99% safe if you ask me. The reason it is 99% is because sometimes they get hacked and these events are truly unpredictable. That is why it is best to always take your funds off an exchange when you can because at any minute any exchange can go under. Remember your keys, your coins. Not your keys, not your coins.
I recommend bittrex or binance. I first started with bittrex as my first exchange ever when i joined the crypto world! Recently i also have some of my money on Binance. I love bittrex due to how user friendly it is, the only downside i can point out is that sometimes it is a bit slow ( not sure if it is about the number of users or getting ddos'd). About binance the downside of it are the way they take the fees... They basically make you buy their coin to pay the fees with or else you will have fractions of the coins u buy stuck there without being able to trade them back to bitcoin which is VERY annoying and stupid.
If you're planning to hold your coins though don't leave them on the exchange, put them on a cold wallet to be safe
If you're planning to hold your coins though don't leave them on the exchange, put them on a cold wallet to be safe
This morning, the Japanese crypto exchange platform Coincheck was hacked and had 526 million XEM (c. USD 400 m) stolen.But It has nothing to do with NEM - there is no issue with the tech, and according to them, the blame lies exclusively with Coincheck
And what is wrong with that? XEM is super secure, i have been holding a few of those coins for a while, and i can really tell you that maybe they are the best coin that i have ever used (i dumped all of them at $1,20 anyways) But yes, it was their fault, not xem's.
The real problem lies in the exploitation of the exchange systems. People are always putting a lot of the trust to the exchanges sites in which their portfolio for the trade is stashed. Many trading sites had proven the reputability but even with the proven reputation, you cannot fully rely on the safety of the specific exchange. There are even inside hackers that are trying to exploit the flaws of the exchanges to scam the holders. Try to be smart and don't keep your portfolio on the exchange site too long. When you had traded immediately try to pull the coins to your wallet (hardware wallet recommended). Although your cryptos must be put on the exchange to start the trades try to be rational with the amount you will send to the exchange.
there are some exchange sites that I think are safe, which is popular in bittrex, according to bittrex statement, that the entire member's deposit was mostly in a frozen wallet, Incoming trade is only a small part, So even though bittrex hack still has a larger reserve fund.
there're no so called 'safest trading site' out there,
because everything has its own weakness as long as it's created by human/people.
(Bug,Greed,Corruption and Others)
in other words,
it's recommended to diversify your portfolio and split it to many exchanges or store some of it on the exchange and the rest on your offline wallet.
Coincheck won't be the last one and it's not the first one either.
because we already heard something like this many times before.
because everything has its own weakness as long as it's created by human/people.
(Bug,Greed,Corruption and Others)
in other words,
it's recommended to diversify your portfolio and split it to many exchanges or store some of it on the exchange and the rest on your offline wallet.
Coincheck won't be the last one and it's not the first one either.
because we already heard something like this many times before.
This morning, the Japanese crypto exchange platform Coincheck was hacked and had 526 million XEM (c. USD 400 m) stolen.
But It has nothing to do with NEM - there is no issue with the tech, and according to them, the blame lies exclusively with Coincheck
Lon Wong, President of the NEM.io Foundation said: “As far as NEM is concerned, tech is intact. We are not forking. Also, we would advise all exchanges to make use of our multi-signature smart contract which is among the best in the landscape. Coincheck didn't use them and that's why they could have been hacked. They were very relaxed with their security measures,"
I want to know What is the safest trading site? I see that some trading site was hack and member of this site will be lost their money, i don't want this happen with me.
I also read that news, I think there is no pretty good exchanges to store all off funds that we have in exchanges. for now, I am still trade on bittrex, coinbase and binance. But It has nothing to do with NEM - there is no issue with the tech, and according to them, the blame lies exclusively with Coincheck
Lon Wong, President of the NEM.io Foundation said: “As far as NEM is concerned, tech is intact. We are not forking. Also, we would advise all exchanges to make use of our multi-signature smart contract which is among the best in the landscape. Coincheck didn't use them and that's why they could have been hacked. They were very relaxed with their security measures,"
I want to know What is the safest trading site? I see that some trading site was hack and member of this site will be lost their money, i don't want this happen with me.
This morning, the Japanese crypto exchange platform Coincheck was hacked and had 526 million XEM (c. USD 400 m) stolen.
But It has nothing to do with NEM - there is no issue with the tech, and according to them, the blame lies exclusively with Coincheck
Lon Wong, President of the NEM.io Foundation said: “As far as NEM is concerned, tech is intact. We are not forking. Also, we would advise all exchanges to make use of our multi-signature smart contract which is among the best in the landscape. Coincheck didn't use them and that's why they could have been hacked. They were very relaxed with their security measures,"
I want to know What is the safest trading site? I see that some trading site was hack and member of this site will be lost their money, i don't want this happen with me.
But It has nothing to do with NEM - there is no issue with the tech, and according to them, the blame lies exclusively with Coincheck
Lon Wong, President of the NEM.io Foundation said: “As far as NEM is concerned, tech is intact. We are not forking. Also, we would advise all exchanges to make use of our multi-signature smart contract which is among the best in the landscape. Coincheck didn't use them and that's why they could have been hacked. They were very relaxed with their security measures,"
I want to know What is the safest trading site? I see that some trading site was hack and member of this site will be lost their money, i don't want this happen with me.
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