Topic: Why Security in Crypto Matters? - page 3. (Read 1766 times)
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.
Quote
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 it self
while for security I only use the authenticator, I think the exchange that I currently live in has thought about the security of my assets (customers) is much better than me, so I just entrust everything to them
Well security in tech in general matters in every aspects. In crypto you have your money involved so there's no way you don't take necessary protections and feel like you are protected from everything! Non custodial wallets are way to go but that's not all either.
Our money in crypto space is floating around so security really matters unto this since there are so many skilled hackers that can able to broke out and steal our balances if our wallet provider have weak security features in their wallets.
So protection is a must to us here since there's a money involve in every action here.
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.
Well security in tech in general matters in every aspects. In crypto you have your money involved so there's no way you don't take necessary protections and feel like you are protected from everything! Non custodial wallets are way to go but that's not all either.
Our money in crypto space is floating around so security really matters unto this since there are so many skilled hackers that can able to broke out and steal our balances if our wallet provider have weak security features in their wallets.
So protection is a must to us here since there's a money involve in every action here.
Well security in tech in general matters in every aspects. In crypto you have your money involved so there's no way you don't take necessary protections and feel like you are protected from everything! Non custodial wallets are way to go but that's not all either.
Considering that this amount is only official data, I am afraid to think how much was really. Certainly, thousands of people who have been stretched for smaller amounts probably have not reported it anywhere, being ashamed of their stupidity or greed, so the real number must be much higher ....
Most of that money fly away to Finland.
"For the third year in a row, Finnish exchanges ranked #1 in highest percentage of criminal BTC received , with 12.01% of all BTC funds received coming directly from criminal sources."
https://ciphertrace.com/spring-2020-cryptocurrency-anti-money-laundering-report
...
first five months of 2020, $1.4 billion has been stolen.
https://www.coindesk.com/crypto-criminals-have-already-stolen-1-4b-in-2020-says-ciphertrace
first five months of 2020, $1.4 billion has been stolen.
https://www.coindesk.com/crypto-criminals-have-already-stolen-1-4b-in-2020-says-ciphertrace
Considering that this amount is only official data, I am afraid to think how much was really. Certainly, thousands of people who have been stretched for smaller amounts probably have not reported it anywhere, being ashamed of their stupidity or greed, so the real number must be much higher ....
nice soft selling lol. but nevermind.
this is why security in crypto matters.
first five months of 2020, $1.4 billion has been stolen.
https://www.coindesk.com/crypto-criminals-have-already-stolen-1-4b-in-2020-says-ciphertrace
crypto exchanges hacks timeline.
https://www.ledger.com/academy/crypto/hacks-timeline
this is why security in crypto matters.
first five months of 2020, $1.4 billion has been stolen.
https://www.coindesk.com/crypto-criminals-have-already-stolen-1-4b-in-2020-says-ciphertrace
crypto exchanges hacks timeline.
https://www.ledger.com/academy/crypto/hacks-timeline
I may be old school, but I don't trust these centralized wallets and exchanges because they might be hacked easily. It may happen sometimes to keep a low amount of crypto on a centralized exchange but in general, I keep my funds only on non-custodial wallets. All these custodial wallets need to run some Penetration Testing at least once in a while to evaluate their system's security. I know a lot of people who lost their funds because they kept them on their exchange account, so to learn from their mistakes and totally avoid that.
Yes, it is very risky to trust virtual wallet more. It can be hack easily if we don't care about it. Security in crypto is very important as we store our crypto currency here. If we don't concern about security, we may lose our money easily.Many doesn't really trust any like that even if how trusted they are and how many years the wallet exist since there are so many incident that some of them get hack and compromised for unfortunate events so maybe best to reach some good HD wallets as well if we can't afford to have it the best solution to withdraw always our funds to make it safe for unwanted attacks.
I may be old school, but I don't trust these centralized wallets and exchanges because they might be hacked easily. It may happen sometimes to keep a low amount of crypto on a centralized exchange but in general, I keep my funds only on non-custodial wallets. All these custodial wallets need to run some Penetration Testing at least once in a while to evaluate their system's security. I know a lot of people who lost their funds because they kept them on their exchange account, so to learn from their mistakes and totally avoid that.
Yes, it is very risky to trust virtual wallet more. It can be hack easily if we don't care about it. Security in crypto is very important as we store our crypto currency here. If we don't concern about security, we may lose our money easily.Many doesn't really trust any like that even if how trusted they are and how many years the wallet exist since there are so many incident that some of them get hack and compromised for unfortunate events so maybe best to reach some good HD wallets as well if we can't afford to have it the best solution to withdraw always our funds to make it safe for unwanted attacks.
I may be old school, but I don't trust these centralized wallets and exchanges because they might be hacked easily. It may happen sometimes to keep a low amount of crypto on a centralized exchange but in general, I keep my funds only on non-custodial wallets. All these custodial wallets need to run some Penetration Testing at least once in a while to evaluate their system's security. I know a lot of people who lost their funds because they kept them on their exchange account, so to learn from their mistakes and totally avoid that.
Yes, it is very risky to trust virtual wallet more. It can be hack easily if we don't care about it. Security in crypto is very important as we store our crypto currency here. If we don't concern about security, we may lose our money easily.Many doesn't really trust any like that even if how trusted they are and how many years the wallet exist since there are so many incident that some of them get hack and compromised for unfortunate events so maybe best to reach some good HD wallets as well if we can't afford to have it the best solution to withdraw always our funds to make it safe for unwanted attacks.
I may be old school, but I don't trust these centralized wallets and exchanges because they might be hacked easily. It may happen sometimes to keep a low amount of crypto on a centralized exchange but in general, I keep my funds only on non-custodial wallets. All these custodial wallets need to run some Penetration Testing at least once in a while to evaluate their system's security. I know a lot of people who lost their funds because they kept them on their exchange account, so to learn from their mistakes and totally avoid that.
Yes, it is very risky to trust virtual wallet more. It can be hack easily if we don't care about it. Security in crypto is very important as we store our crypto currency here. If we don't concern about security, we may lose our money easily.and its just normal for us to take security measures to take care of our funds and there are various ways on able to do so but somewhat peoples carelessness and being to
numb is really the reason why scam and hacking event do take place.
Lets stick to crypto security.Of course you would surely need to secure on what you had invested or do earn.You cant just let other people do steal it from you knowing that
transactions are irreversible and once it had been stolen then theres no way on getting it back. Trusting third party wallets is a no go. Always stick on wallets which you do possess
they keys and also dont leave them on exchangers or platforms for too long.
I may be old school, but I don't trust these centralized wallets and exchanges because they might be hacked easily. It may happen sometimes to keep a low amount of crypto on a centralized exchange but in general, I keep my funds only on non-custodial wallets. All these custodial wallets need to run some Penetration Testing at least once in a while to evaluate their system's security. I know a lot of people who lost their funds because they kept them on their exchange account, so to learn from their mistakes and totally avoid that.
Yes, it is very risky to trust virtual wallet more. It can be hack easily if we don't care about it. Security in crypto is very important as we store our crypto currency here. If we don't concern about security, we may lose our money easily.
One way or another, one of the main problems that may arise before the massive introduction of cryptocurrency in a person's daily life is the security of each user's cryptocurrency funds. In addition, it is necessary to improve the education of people in the field of cryptocurrencies, so that they can not only use cryptocurrencies, but also have knowledge of security. In addition, in order not to worry too much about the safety of their keys when making a transaction, people will be able to use certain applications that can act as intermediaries between wallets and the resource on which they plan to transfer cryptocurrency funds. WalletTrust is an example.
This shouldn't even be up for debate, security should be first thing in mind when it is a matter of funds. The best way to secure your funds is by putting them under your own control. This is why I tell people to avoid storing tokens on exchanges. Always use a non-custodial wallet to store your coins.
For trader or for those who require it for some purpose or gambling those can have it online rest of them like long term you want to hold it etc should not be kept in any of the wallets or exchanges. In past we have seen how security breaches have occurred and better to remain safe by sorting it offline and also not sharing any details.
I may be old school, but I don't trust these centralized wallets and exchanges because they might be hacked easily. It may happen sometimes to keep a low amount of crypto on a centralized exchange but in general, I keep my funds only on non-custodial wallets.
Your not an old school but I find you a wise guy since we can't really fully trust those centralized wallets and exchanges since they are more prone to any attacks since hackers knows that if they could penetrate in the system they can get a big money from it, I admire you talk about that here since there are so many users who still trust those dangerous options and ignore the past incident of hacking issues.
I always suggest to my friend to always use a non-custodial wallet for good security matters.
Without security most of tradings and deals that are happen in the digital world will be wiped by hackers. Despite military grade security to some exchanges, they still find there way to penetrate. Security is key to everything in life
This is a topic for kids, not even for kids, it's for babies. You explain why security is good to 2-3 years old babies, to not get hurt, and you teach them how to be safe all the time.
If you need to explain why security is matter to people, than ask yourself on what level they are and what else you will have to teach them and to prepare them for life.
I think this is a waste of time, but in the same time I respect people who have patience to work with low IQ people and teach them about life.
If you need to explain why security is matter to people, than ask yourself on what level they are and what else you will have to teach them and to prepare them for life.
I think this is a waste of time, but in the same time I respect people who have patience to work with low IQ people and teach them about life.
Security is important not only in cryptocurrencies. I think any processes and transactions on the Internet should be confidential and secure.
Neconic I agree, security is important everywhere. I think that keeping crypto-currencies in a hardware wallet is safer than
to have cash in a wallet. We can compare crypto-currencies and banks, who is more secure, who has faster and cheaper transactions,
who can provide easier access, and usability. Probably crypto-currencies, at least some of them are much better in all this than
banks can be.
Safety is the best security without any high tension with cryptographic design to transact and most important thing is a real private key which is your first base as command because we cannot guarantee to your journey mostly on unexpected scammers. I believe that this creative and suitable as traders.
Jump to: