Topic: Why Security in Crypto Matters? - page 2. (Read 1767 times)
Security is the most important thing on crypto, cause it matters a lot. If the crypto wallet is secured, everyone love it and will use it to store thier assets, if a exchange is strongly secured, they would love to trade on that exchange. Thats why security should be the priority of mobile wallets and exchanges to have great amount of users.
security in the crypto world is like a key, don't let the keys be found by others, everything can be taken, so it is very necessary to keep the security code so that it is not taken by other people.
Crypro is a like a business, in order to attract investors you must do all the thungs to their investment safe from thieves /hackers, thats why strong security is the most needed by exchanges.
Obcourse security is important. Not just in crypto. But many hackers targeting crypto because of abundance of possible victims. Leaving your asset on exchanges is makes the risk higher. And when you store your assets on your wallet just be careful with your keys. I experienced it myself. When I'm just starting way back in 2016, I click a site of myetherwallet (a phishing site and dont know it that time). I loss $2500 at that time.
People don't trust themselves to oversee the affair of their finance.
They believed in entrusting the funds to management services providers to do it for them. Also the stress of investing in the industry especially when you're of the altcoin industry is just tiresome that if you're inform, you might be left behind in times of smart contract upgrade etc.
This is a very understandable and good point but shouldn't be so. I know saving some values over the web could be so overwhelming with insecurities looming all over as per cyber criminals but then, having your valuables such as documents, germs, diamonds, gold's and the rest of them for safety in a bank entitles you some card which links to a key to access the safe for which it's stored based on which ever purpose you do need to access it for.They believed in entrusting the funds to management services providers to do it for them. Also the stress of investing in the industry especially when you're of the altcoin industry is just tiresome that if you're inform, you might be left behind in times of smart contract upgrade etc.
That's just the exact way online wallets works. It's a correlation. Just that in this case, your always with the key and it's safety (private key) is entirely up to you. Having your coins stored in an exchange is often a bad idea as these exchanges are often hacked especially the just emerging once for which the hack could be an insider job or just the loosed security ends due to inexperienced from it's technicians. It's always best you oversee your banking and that's why we don't just have softwares alone to store our private keys but, hardware wallets are readily available for storing private keys.
Keeping your private keys private is a necessity and your way to your funds.
Obviously security is matter in crypto. If we unaware of security in crypto then there is a big chance to lose our valuable assets. We should more conscious about security in crypto.
If you store your coins in online wallet or say any exchanges which does not have a good security feature, and if that gets hacked you lose you all hard earned money which is kept in in coins on those wallets or exchanges. So, in order not to lose it you will require a good security feature they implement in it so that your coins remains safe and secured.
I cant say that it would totally safe because you wouldnt know if exchangers would tend to have that inside job and just showing off that it was a hack.
Even if you do set up 2fa or something then its still useless if its being compromised from the platform itself.Security matter most because this is just
like protecting or keeping our own wallet in our pocket not to be stolen since we know that it is valuable.When it comes to security then nothing beats
up when you do store your coins in a hardware wallet but still it do have risk if you dont know how to keep it away from other people even if
keys arent exposed but hardware can neither be stolen or broken.
Inside jobs attacks happen for so many supposed to be trusted before and I can't even tell on which of them is totally secured since any of them even a top tier can be compromised, Maybe the best security here is to cash out our funds on hardware wallet once we finish our day in tradings since if we will do it on web wallets then still we cannot assure our funds safety.
And security in crypto really matters since we are putting our money/asset on certain platforms and it will be a totally huge disaster for us if we get hack and compromised.
that there are really some Pro's when you do had some funds on an exchange where you can easily make out such decisions neither on buying opportunity since you can directly trade without the need of transferring funds from time to time specially if you are an active trade then you would really be most likely be concern off on the hassle on making transfer from time to time just because you do like to secure up things when you arent trading but to think that those fees arent really that high compared if the funds you had store on an exchange wallet would be all gone due to unexpected or any other similar event.Its up to our own choice
if we do risk it out since its our own possesion after all.
Obviously security is matter in crypto. If we unaware of security in crypto then there is a big chance to lose our valuable assets. We should more conscious about security in crypto.
If you store your coins in online wallet or say any exchanges which does not have a good security feature, and if that gets hacked you lose you all hard earned money which is kept in in coins on those wallets or exchanges. So, in order not to lose it you will require a good security feature they implement in it so that your coins remains safe and secured.
I cant say that it would totally safe because you wouldnt know if exchangers would tend to have that inside job and just showing off that it was a hack.
Even if you do set up 2fa or something then its still useless if its being compromised from the platform itself.Security matter most because this is just
like protecting or keeping our own wallet in our pocket not to be stolen since we know that it is valuable.When it comes to security then nothing beats
up when you do store your coins in a hardware wallet but still it do have risk if you dont know how to keep it away from other people even if
keys arent exposed but hardware can neither be stolen or broken.
Inside jobs attacks happen for so many supposed to be trusted before and I can't even tell on which of them is totally secured since any of them even a top tier can be compromised, Maybe the best security here is to cash out our funds on hardware wallet once we finish our day in tradings since if we will do it on web wallets then still we cannot assure our funds safety.
And security in crypto really matters since we are putting our money/asset on certain platforms and it will be a totally huge disaster for us if we get hack and compromised.
My strategy is as simple as possible. I use non-custodial wallets only and never keep coins on exchanges for a long time.
As per your thread title/subject, security in everything matters, not just in crypto, for instance, you build a house and dont secure the environment, in the night, armed robbers may break in and rob you off your goods and belongings, and if you are unlucky, you might even loose your life in the process.
So what i Want to emphasize is that security should be one of the most important things to really consider when ever we do or build anything.
Yes and moreover in crypto space as everybody else knew that crypto present to solve security matters so yes it is more than just related but it is in crypto area.So what i Want to emphasize is that security should be one of the most important things to really consider when ever we do or build anything.
You cannot judge based on several cases that crypto exchanges have been too often hacked.
You have to see to the otherside as well as positive things more often happened in cyber security world where transactions can be done conveniently without hassle, no trust issues in third party .
Simply nothing fully safe on this world. Nobody can guarantee it.
Obviously security is matter in crypto. If we unaware of security in crypto then there is a big chance to lose our valuable assets. We should more conscious about security in crypto.
If you store your coins in online wallet or say any exchanges which does not have a good security feature, and if that gets hacked you lose you all hard earned money which is kept in in coins on those wallets or exchanges. So, in order not to lose it you will require a good security feature they implement in it so that your coins remains safe and secured.
I cant say that it would totally safe because you wouldnt know if exchangers would tend to have that inside job and just showing off that it was a hack.
Even if you do set up 2fa or something then its still useless if its being compromised from the platform itself.Security matter most because this is just
like protecting or keeping our own wallet in our pocket not to be stolen since we know that it is valuable.When it comes to security then nothing beats
up when you do store your coins in a hardware wallet but still it do have risk if you dont know how to keep it away from other people even if
keys arent exposed but hardware can neither be stolen or broken.
Obviously security is matter in crypto. If we unaware of security in crypto then there is a big chance to lose our valuable assets. We should more conscious about security in crypto.
Right because it's our lose if our money will be trusted to unreliable exchange or wallet so we should really make sure to go on fully protected platforms upon depositing to make sure that we are safe and to assure that our balance is safe for next day used.
Obviously security is matter in crypto. If we unaware of security in crypto then there is a big chance to lose our valuable assets. We should more conscious about security in crypto.
If you store your coins in online wallet or say any exchanges which does not have a good security feature, and if that gets hacked you lose you all hard earned money which is kept in in coins on those wallets or exchanges. So, in order not to lose it you will require a good security feature they implement in it so that your coins remains safe and secured.
This is the reason why I'm so careful and selective to the wallet I used to store my coins since I don't really want to get hacked so I always prefer the old reputable wallet providers since for sure they are safe wallets to use and less chances to get hacked.
legendary
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Quote
but even after all this warning about 85-90% of all crypto users normally store or leave their crypto on exchanges, that's why each time an exchange is been hacked you'll see alot of people crying, because they have lost all their assets due to the hack.
I had an opportunity to have a conversation with some individuals at a seminar I attended earlier this year before the whole coronavirus pandemic shutdown everything. The reason most cryptocurrencies investors still trust these exchanges over them holding their funds is the same reason banks are seeing high patronage from the average citizens. People don't trust themselves to oversee the affair of their finance.
They believed in entrusting the funds to management services providers to do it for them. Also the stress of investing in the industry especially when you're of the altcoin industry is just tiresome that if you're inform, you might be left behind in times of smart contract upgrade etc. But if these coins are on exchange, you can just feel relaxed to some extent although I'm not advocating for it.
Now when this coins are moved off exchanges, you'll still find out that centralized wallets are the next stop which isn't any different from where it was previously residing. It would be very hard to get everyone to buy into the idea of holding their coins as the exchange keep decieving them that their coins are safe and insurance funds keep bailing the exchanges out in times of hack.
Obviously security is matter in crypto. If we unaware of security in crypto then there is a big chance to lose our valuable assets. We should more conscious about security in crypto.
A thing about safes is that, it always comes with a key or some combinations that grants you access to what ever is locked away or kept safe and that which is worth keeping safe is sure to be valuable in this case, cryptos.
Fiats are kept in banks who in turn puts it's in a save for safe keeping, some individuals own their personal safe and needs combinations to access it as well which brings into concern, how to safely store cryptos which is also very valuable being a currency of the web and needs protecting from hackers and scammers that seem to plague the system.
The advent of crypto wallets makes you your own banker and the private key serves as the combination to ensure it's safety and access hence, the need for keeping it rather safely less, that which is stored be taken away. This is why, the advocation for keeping your private key private is a necessity.
Fiats are kept in banks who in turn puts it's in a save for safe keeping, some individuals own their personal safe and needs combinations to access it as well which brings into concern, how to safely store cryptos which is also very valuable being a currency of the web and needs protecting from hackers and scammers that seem to plague the system.
The advent of crypto wallets makes you your own banker and the private key serves as the combination to ensure it's safety and access hence, the need for keeping it rather safely less, that which is stored be taken away. This is why, the advocation for keeping your private key private is a necessity.
legendary
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Leading Crypto Sports Betting & Casino Platform
As per your thread title/subject, security in everything matters, not just in crypto, for instance, you build a house and dont secure the environment, in the night, armed robbers may break in and rob you off your goods and belongings, and if you are unlucky, you might even loose your life in the process.
So what i Want to emphasize is that security should be one of the most important things to really consider when ever we do or build anything.
So what i Want to emphasize is that security should be one of the most important things to really consider when ever we do or build anything.
Nowadays keeping funds in any exchange platform is at a very high risk,thats why I always prefer to store my crypto in my own wallet, rather than leaving it in an exchange, since most exchanges are been targeted by hackers, I think its best we store our crypto in our wallet,but even after all this warning about 85-90% of all crypto users normally store or leave their crypto on exchanges, that's why each time an exchange is been hacked you'll see alot of people crying, because they have lost all their assets due to the hack.
I leave my crypto sometimes in exchange but just for a day or two specially when time that i still trade.Though i am still doing this now to be ready if ever the Massive dropping happen again like last march or when the price Moves Huge again like last year.
In this cases My funds in exchange will automatically converted into what coins i wanna buy (but mostly it is for Bitcoin)
This is also one of the reason why we left our bitcoins on exchange, sometimes I do this personally but I make sure the exchange where I left my balance is a trusted for long years since I can't take a risk to try those new exchange coming since there are several events that they scam their users. So I choos to think that way since security really matters if we talk about our hard earned money.
Nowadays keeping funds in any exchange platform is at a very high risk,thats why I always prefer to store my crypto in my own wallet, rather than leaving it in an exchange, since most exchanges are been targeted by hackers, I think its best we store our crypto in our wallet,but even after all this warning about 85-90% of all crypto users normally store or leave their crypto on exchanges, that's why each time an exchange is been hacked you'll see alot of people crying, because they have lost all their assets due to the hack.
I leave my crypto sometimes in exchange but just for a day or two specially when time that i still trade.Though i am still doing this now to be ready if ever the Massive dropping happen again like last march or when the price Moves Huge again like last year.
In this cases My funds in exchange will automatically converted into what coins i wanna buy (but mostly it is for Bitcoin)
In built protection like 2fa's and verification neither on mail or otp wont really be enough or shall we say 100% safe because most common errors do really target out on the user itself
which means we should really be sensible on keeping those valuable informations in to secure place that no one would able to see it on.Security does matter just like on what we've been doing on keeping our money in banks.The difference here is that we've been storing it on online.It might hard to be bruteforced but once those info's will leak then expect for you to
lost money.
It's your responsibility to keep your crypto safe. If you're not using necessary precaution/protection like metacert and phishfort to prevent phishing it's your fault for being careless and just carelessly logging in your sensitive informations without checking if its the right site or to some form. In internet, we can't really trust anyone so if you've received some link you should not just carelessly open it or download it.which means we should really be sensible on keeping those valuable informations in to secure place that no one would able to see it on.Security does matter just like on what we've been doing on keeping our money in banks.The difference here is that we've been storing it on online.It might hard to be bruteforced but once those info's will leak then expect for you to
lost money.
There are few people lazy about using those necessary details to keep their account secured and there are also others who doesn't know about the methods about how to secure their account properly so maybe if there's something like information drive about account security for sure we can see those hacking,phising or other bad attack minimize. And we shouldn't trust anyone or anything that can possibly lure us since for sure hackers are just there waiting for their potential victims so we should be informative on safety and security to avoid this.
In built protection like 2fa's and verification neither on mail or otp wont really be enough or shall we say 100% safe because most common errors do really target out on the user itself
which means we should really be sensible on keeping those valuable informations in to secure place that no one would able to see it on.Security does matter just like on what we've been doing on keeping our money in banks.The difference here is that we've been storing it on online.It might hard to be bruteforced but once those info's will leak then expect for you to
lost money.
It's your responsibility to keep your crypto safe. If you're not using necessary precaution/protection like metacert and phishfort to prevent phishing it's your fault for being careless and just carelessly logging in your sensitive informations without checking if its the right site or to some form. In internet, we can't really trust anyone so if you've received some link you should not just carelessly open it or download it. which means we should really be sensible on keeping those valuable informations in to secure place that no one would able to see it on.Security does matter just like on what we've been doing on keeping our money in banks.The difference here is that we've been storing it on online.It might hard to be bruteforced but once those info's will leak then expect for you to
lost money.
Nowadays keeping funds in any exchange platform is at a very high risk,thats why I always prefer to store my crypto in my own wallet, rather than leaving it in an exchange, since most exchanges are been targeted by hackers, I think its best we store our crypto in our wallet,but even after all this warning about 85-90% of all crypto users normally store or leave their crypto on exchanges, that's why each time an exchange is been hacked you'll see alot of people crying, because they have lost all their assets due to the hack.
They will leave the money because they trust the exchange was where the money has been stored. Most commonly problem and how many times we stated this that we shouldn't leave our crypto on exchange wallet but if you are actively doing trading, leaving for a while is considerable but in a long term, I suggest you are in risk.People should always understands this and I know this is always repeatedly says here that not your key, not your bitcoin. So dont be expect.
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