Never leave your Bitcoins and Crypto in an exchange

[Johandrys 114]

Excellent and very useful your advice, that maybe I could have applied it some time ago when little was known about cryptomonies and I was more distrustful, now I can tell you that I particularly have a great part, not all, of my cryptomonies in Yobit.Net and it is one of the few exchanges that has given me the security that everything will be fine.

[Beapg61 33]

The best thing would be to save in a wallet that you are the owner of the private keys.

Exchanges are always more exposed to hacking, hackers go where the money is and exchanges have a lot of it.

Another reason is because exchanges do not always give you forks (the new currencies like bitcoin gold) if you own your private keys you can claim those forks or new currencies.

Most exchanges have access to your funds and the user does not have access to the private keys, if any information is compromised or there is some type of hack, your balance would be compromised with nothing to do.

There are many wallets to choose from that are reliable.

[Manuel Cortes Hernandez 295]

On 1/21/2020 at 12:59 AM, alz190 said:

If you are into crypto then chances are that you have dealt with a crypto exchange.

Though there are 2 types of exchanges centralized and decentralized but there is one thing that you must note and be careful about.

That is never leave your bitcoins and other crypto in an exchange.

The reason for this is safety of your bitcoins and crypto

Normally when you sign up for an account and access your dashboard you can access your bitcoin and other crypto deposit addresses from withing your dashboard.

Once you have traded the crypto you own shows up in the dashboard of your account.

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!!!

So it is very important to withdraw your crypto money and keep it in a wallet.

Also back up the wallet and the private keys associated with your wallet

I didn't know about leaving my coins in exchange, I thought that nothing would happen, I hadn't thought that, it's just that I'm new in this world of Bitcoin, thank you very much for the information.

[Gecko23 77]

I use yobit and binance and i trust them. I know no exchange is 100% secure, because hackers everyday develop new methods of vulnarate our accounts, but these exchanges are the best i know on security systems. So, the thing that i do is, withdraw a percentage of my account every month if it is profitable. 

[mertcanozluk 19]

I left many times and I didnt get any problem

[xawier 49]

According to this, money should not be left in exchanges only in wallets, unless they are reliable like yobit or binance, pages that have many people in them and that validate their integrity and security. 

Edited October 9, 2020 by xawier

[fahed 106]

Your words are good and correct, but hacking the platforms is not that easy, my dear, especially the large decentralized platforms like Binance, and you know that there are many hackers trying on a daily basis to try to hack them and they are also unable because the topic is very complicated and difficult. I know there are thousands of people leaving their money in it because we all know the protective power of these platforms.

[jonhblack 285]

On 1/20/2020 at 11:59 PM, alz190 said:

If you are into crypto then chances are that you have dealt with a crypto exchange.

Though there are 2 types of exchanges centralized and decentralized but there is one thing that you must note and be careful about.

That is never leave your bitcoins and other crypto in an exchange.

The reason for this is safety of your bitcoins and crypto

Normally when you sign up for an account and access your dashboard you can access your bitcoin and other crypto deposit addresses from withing your dashboard.

Once you have traded the crypto you own shows up in the dashboard of your account.

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!!!

So it is very important to withdraw your crypto money and keep it in a wallet.

Also back up the wallet and the private keys associated with your wallet

Essentially it is the best, withdraw your cryptocurrencies once you have made the trades you needed.
Because as you say, the exchange could disappear at some point or fall into bankruptcy, so for the safety of your assets, the idea is to keep them in an offline wallet (cold wallet).

because even an online wallet could be attacked by hackers who steal your identity, which if it happens, be sure that they will empty your assets :c

For example you can withdraw them to the hardware wallet "LEDGER"

It is very safe and practically the only way to steal your assets from it is to steal it, which I see unlikely unless you take it everywhere with you and know that it is a cryptoactive portfolio, otherwise no one will know what it is. you bring.

[Koussaygame07 103]

Correctly sealed is equal to losing all your cryptocurrencies, it is recommended to always extract them towards their wallets to avoid any loss and make copies of the wallet keys to ensure good protection

[Bernardo Brazon 31]

You are quite right, it is best to have cryptocurrencies in cold wallets or those in apps, because in this way you can control your own private keys and keep your cryptocurrencies safe.

[Adam adam 276]

You are right and I took my precautions against this and bought the Nano Ledger Wallet because I could not find a better alternative because it provides its users with high security and protection. In fact, the Bitcoins are yours and under your complete control with this excellent wallet.

[Cryptonix 135]

I am often recommended to use a hardware wallet. Hardware wallets are devices specially designed for secure storage of private keys. They are considered a more secure alternative to wallets for PCs or smartphones, mainly because they do not maintain a constant connection to the Internet. Such properties significantly reduce the vector of possible attacks

[Bortmexanuk 27]

It seems to me that every person working with a cryptocurrency should have a portfolio in a safe place, which transfers the amounts to him when a certain limit is reached.

[rafatu 26]

the hardware or paper wallet is the best for keeping crypto you buy n hold. you can keep the ones you trade with on the live wallet and make sure you have the backup keys.

[khaleesi2020 115]

Good Morning,
Yes but no, although it is true that it is safer to keep your cryptocurrencies in your wallet, sometimes I think it is better to leave part of not everything, in the exchanges for short-term purchase / sale operations, but the withdrawal / entry commission In the background, I would take away a good part of your profit, watch out for short-term positions.

[skynguyen 54]

There is no absolute safe place to hold cryptocurrencies. If the wallet is cold, it can still corrupt the software.

[cooperallch 349]

I usually keep my coins in exchange, as I use them frequently and it ends up being unfeasible for me to deposit and withdraw every time I go to trade, so I prefer to leave it in a trust exchange

[Mridul Rahman 1058]

Well i guess everyone does this who have much knowledge about crypto.But this information is very useful for the newbies.We know that even the biggest exchanger can be hacked.We saw that with kucoin a months ago.So don't ever leave your money in exchanger.Just withdraw it in your wallet and be stress free.

[Jromz 2158]

That's quite a good piece of advice, it's not very wise to leave our cryptos in exchanges as all exchanges are potentially susceptible to be hacked and a risk exist to lose all our funds. On top of that, let's always remember the famous phrase by Andreas Antonopoulos,  Your Keys, Your Bitcoin. Not Your Keys, Not Your Bitcoin. That is, if you leave your cryptos in an exchange you simply do not own your private keys, and nor your cryptos.

[guatazoo 7150]

Exchanges are shutting down everyday suddenly or getting hacked very often, so if you left your money in exchange, the crises like thats would happen to your balance. 

[Mouhadheb 196]

For a long time this idea was running through my head and I did not find a safe place to put my digital coins, but my friend advised me to use the nano ledger, and in fact I found it very cool and I feel safe when I put my money in it.

[mattsett 120]

I really prefer to leave my funds in a decentralized exchange for ease, as we can save our funds and already trade at the same time, I know that it is not recommended to leave the funds in exchange but I prefer it this way

[Omar98 916]

Well, I agree with your opinion. But with all my respect my friend I would like to share a small thing with you.

When someone wants to enter the exchanging world and platforms first of all he/she must be sure about how much this platform is trustful. and then the important part show up here which is,

DO NOT TRADE AND EXCHANGE WITH YOUR WHOLE AMOUNT OF MONEY.

Even if the platform is safe to exchange in but we must take the risk management in point of care so if the exchange as shut down we are not loosing all of our money.

 

[Guru2050 8284]

With the current rising cases of scamming, hacking and other categories of cyber security disruptions online I think your coins should be more safe and secured in your personal strong wallets. Or one may choose to divide the account for savings in segments to enable his currency more surviving chances.

[joemcgwa 3227]

On 1/21/2020 at 8:59 AM, alz190 said:

If you are into crypto then chances are that you have dealt with a crypto exchange.

Though there are 2 types of exchanges centralized and decentralized but there is one thing that you must note and be careful about.

That is never leave your bitcoins and other crypto in an exchange.

The reason for this is safety of your bitcoins and crypto

Normally when you sign up for an account and access your dashboard you can access your bitcoin and other crypto deposit addresses from withing your dashboard.

Once you have traded the crypto you own shows up in the dashboard of your account.

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!!!

So it is very important to withdraw your crypto money and keep it in a wallet.

Also back up the wallet and the private keys associated with your wallet

Our funds are always being under control of a certain sector because we cannot live with money at home, and those who controls those sectors are human like us, so anything can be happened from those sectors and we will be loosing our money, so thats why we keep money in banks, exchanges and in wallets and other platforms which can be getting closed unfortunately suddenly for certain reasons.