Never leave your Bitcoins and Crypto in an exchange

[gourav789 2834]

I also think the Same as you describe , but I think if we used binance and bittrex or any top 10 exchange According to coinmarketcap then there isn't too much risk if we put our fund there . because they provide a good security to it's user .

[DiamondBit 720]

I too will not encourage this at all, wallets ate for saving coins while  exchanges are for trading. 

10 hours ago, gourav789 said:

I also think the Same as you describe , but I think if we used binance and bittrex or any top 10 exchange According to coinmarketcap then there isn't too much risk if we put our fund there . because they provide a good security to it's user .

Did you heard about the 2019 binance hacked? Over 190,000 btc was stolen. Hope you heard?

[BitcryptoHan 2557]

On 7/9/2020 at 9:43 AM, gourav789 said:

I also think the Same as you describe , but I think if we used binance and bittrex or any top 10 exchange According to coinmarketcap then there isn't too much risk if we put our fund there . because they provide a good security to it's user .

Binance was hacked in 2019, I have even seen this on this forum and browsed it out to her true, so why are you recommending and exchange that has ones be hacked?

[TheRaed 1247]

When working in trading cryptocurrencies on a platform, we must keep a few currencies inside the platform, as I said I do not need to risk the full of what we have

[Yomose 3704]

3 hours ago, Manomano said:

Now if we not save our belongings on exchanges

Did you read the topic at all? The topic is all about how exchanges are often hacked and not advisable for saving cryptocurrencies, but the good ones that has not been hacked before can be used to trade. But leaving high amount of cryptocurrencies  om exchanges with trading but for holding is very not advisable. 

[Projectcrypto 4382]

You are right mate because today there are some certain exchangers that are not well secured and hackers can attack the exchanger at anytime for this reason i think leaving you coins in such exchangers is not safe as you can loss you coins if the exchanger got hacked and no one will be there to compensate you for the loss. It is much better you create a blockchain wallet and store your coins because they are secured or rather make use of food exchangers like yobit or binance since they are well secured and safe from hackers.

[Tunuu 2235]

Good advice and i also don't leave my coins in exchanges or unless i staked them/ trade them. i think exchanges are easily to be accessed even by scammers, but its not that easily for wallets to be accessed with scammers. Because they have been developed to store money, and exchanges they are special developed for trading, exchanging or investing... etc.

[estee369 489]

This could happened to any centralized exchange that you are keeping yours funds like coinbase. Or you could lose your privet key. What you are saying here is a uncertain events. Thats can happened to any places. So as long as you keep your fund in any reputable exchange like binance it remains safe. Also i think we should keep our fund in exchange because if any market crash happends we can exchange our btc with stable coin quickly.

[BitcryptoHan 2557]

It depends, and people still leave cryptocurrencies on exchanges, it is not safe but certain little amount for day trading can not be elsewhere than exchanges.but for 99.99% safest, hardware wallet is better. 

[BTC Future 3946]

There are just a few exchanges that never suffered any hack or lost any cryptocurrencies due to events as these. Yobit is one of them and while I always refer to use hardware wallets when I trade crypto I prefer to hold them on this exchange. Perhaps Coinbase has extreme security but still you never know what will happen as Coinbase had employeed hackers recently and they didn't even know it (source). 

[DiamondBit 720]

The safest I the wallet, online wallets are good but offline wallets are safest, hardware offline wallet is the best of its kind, while ledger nano x is the best of all hardware wallets. But trezor, ledger nano and keepkey are all safest. 

[Dorjoy12 8962]

On 1/21/2020 at 11:59 AM, alz190 said:

never leave your bitcoins and other crypto in an exchange.

Without any doubt you are right becuase in lot of exchange site has a story like member store their currency in exchange site but later the face KYC problem or other thing which lead them lose their money.. So i think the best idea is,whenever you deposit YOUR currency in any exchange site,just trade the currency and withdrawl it..                    

[DiamondBit 720]

On 8/22/2020 at 7:29 AM, ndadukun12 said:

If you leave your money in an exchange you are not in control of your money. So it is always recommend that you move your money to your personal wallet which you are in possession of the private keys.

If this is your point, then, if you also leave you funds on any wallet that provide you with no private key, then you are still not the owner of the coin on blockchain. The keys that supposed to be yours will be owned by third party. 

[Mwangi 5611]

Thanks for this , all My financial operations are really done on my own personal computer and it is becoming a little bit tough to understand what is happening sometimes, I know when it comes to money safety should be key and we should work as hard to make sure that we are able to understand what we are doing in levels that will help us well , thats what we have to think of 

[Hfaragon33 29]

Yes, i can say thanks too, but sorry man did you hear in nowadays that exist descentralized wallets like metamask who can be connected with exchanges p2p also descentralized like uniswap 

[FIA17 44]

I do fully agree with your statement but there are scenarios where it actually makes sense to hold on an exchange hot wallet like if you are staking your coins then you simply hold them in the wallet of the exchange and the exchange will stake them on your behalf. Of course thorough research on the exchange in question must always be done if trusting the exchange with your holdings.

[elharam 46]

Of course, you are correct. As there have been many operations at the present time for penetrating many stock exchanges, including rather large exchanges and carrying huge funds from investors, or it has become very difficult to keep money in the platform. We must not leave our money in exchange. It should be checked occasionally and kept in a safe place.
 

[martinsaut 3]

now is a good moment for trading.
in the near future bitcoin and altcoin will be pumping.

[Nagat54 42]

Yes, you are right but exchanges can't close like that except if they are scam it's better to avoid not trusted exchanges but you can leave your money in the trusted exchanges like Binance and YoBit

[Vito1875 3]

I think is true and it´s better to have your crypto stores in an offline wallet, bur form white to black, there are many gray scales and not all exchanges are bad or all good. You have to search, to try and to choose a exchange where you can be calm with your cryptos. Of course, there is always the risk the exchange in question is a scam and can made a playpen or dissapear with your cryptos. There is neccessary a due diligence to choose

 

 

 

[Leya 87]

Yes, sometimes we don't think about the consequences of having our cryptos so exposed, I, for example, only think about saving the fees that I pay on each withdrawal or deposit and it's wrong because I can lose more.

Everything you say is totally true and I must take it into account, so as not to lose more than necessary. Thank you very much!

[Dinero49 39]

In the exchange we only leave the crypto currencies necessary for trading / arbitrage. A minimum amount, of course. The rest is advisable to deposit in a cold wallet. It is important to remember that without our private keys we could lose access to the money.

[Townshend 16]

7 hours ago, FIA17 said:

I do fully agree with your statement but there are scenarios where it actually makes sense to hold on an exchange hot wallet like if you are staking your coins then you simply hold them in the wallet of the exchange and the exchange will stake them on your behalf. Of course thorough research on the exchange in question must always be done if trusting the exchange with your holdings.

That's a good point but I suggest to hold as much you are going to take as a loss. There's always a propability that exchange can be hacked. For me Crypto is for long term and I will only save my investments in a hardware wallet.

[Faisalislit 72]

Right if we have enough crypto that we care for then we should not leave it into our exchanger account. Instead of our exchanger account we can keep it into our wallet like trust wallet, meta mask, huobi, tronlink pro. It would be more safe.

[Honny143 13612]

On 1/21/2020 at 11:29 AM, alz190 said:

Have you ever thought what could happen if the exchange you are trading on today closes down?

All your hard earned crypto money could vanish!!!

Already so many exchange close their business and investors loss money, not only exchange close then we face lose some times big exchanges also hacked and we are the victims to loss our funds, so better to store our funds in secured wallets and protect our keys.