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alz190

Never leave your Bitcoins and Crypto in an exchange

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It is very dangerous and insecure to leave your crypto currencies on the exchange sites. Some exchange regularly delists some currencies due to the lower trading volumes if you missed the announcements from the exchange than your fund gone !


 

 

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That's the reason we should seek for good exchange at first, before start trading likely we should go with reputed exchanges like yobit and i don't think there will be any problems to leave our coin in wallet of exchange like of yobit as they are highly secured.


NOTHING I SAY IS FINANCIAL ADVICE. YOU SHOULD USE YOUR MIND ,FOR YOUR MONEY,

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Exchanges are not wallets, it true they have an internal wallet but it is not designed for holding coins for a long time, in any market you need to keep your coins active because when you sign up for some market, then you should do some crypto activities like trading or investing where you will be able to make your coins active in any crypto operation, if you want to store then yiu should choose the right one

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Yes you are right not hold your crypto currency in exchanges because exchange not safe for hold your crypto currency for long-term always use popular wallets for hold crypto.

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You shouldn't keep EVERYTHING you have in an exchange, but you must have what you want to trade with, you can't always deposit and withdraw


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yes i am agree with your topic.exchanges may get attacked with some parties or hackers so avoid keeping your bitcoin and any other coin into the exchange.

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yes i agree with you cause they may be hacked and we should keep our oney seperate from other sites it is just a security measure we have to take before going to sleep cause no one knows what will happen. but i think if you use top3 platforms than you are safe and don't have to worry about it everyday just withdraw big money .

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I agree with you, exchanges are great targets for hackers because they have billions of dollars, also it is very important to check if the exchange uses cold storage to store your funds instead of hot wallets.

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On 1/21/2020 at 1:59 PM, alz190 said:

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

The last statement is a much better approach. Get a personal wallet, either offline wallet or hardware one, and store the funds directly into that wallet. Only store funds on exchange's wallet if you're about to trade, but don't store it there for extended amount of time.

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Yes truly, I will never remove the crypto exchange since, as long as I deal with crypto cash, I will endeavor to pick up money by trading my coins through the exchange.

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On 3/10/2020 at 5:12 AM, Ngetpa said:

I agree. We should not leave our crypto in any exchange site because it cannot guarantee us a full safety and security of our crypto. There could be a chance it will be hack our blocked.

 

this is a very debatable subject, imagine that someone does daytrade, how will that person do daytrade? this person will have to withdraw their bitcoins every day and every day this person will have to make deposits at the exchange? how much fee will that person pay in 30 days? what if the price goes down after that person has withdrawn their bitcoin from the exchange?

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On 13.03.2020 at 23:06, isasme said:

I unequivocally concur along with your opinion not to store your computerized resources within the cryptocurrency showcase. Even I am the CEO of Indodax itself which states that don't utilize the trade as a wallet to store advanced resources. But utilize existing wallet such as Blockchain and others.

People ought to went through a number of of their time to get it that trades can be hacked and closed down without paying anything back. It happened with MtGox and other destinations within the past. They can exit trick as well, claiming they were hacked and of course they have no obligation to pay back the client as indeed controlled trades do not have to be give any cover for misfortunes on the off chance that these issues happen.

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Yes full agree with you mate. andd i have a note for beginners : you should make sure you have the private kay to your wallets right now before you send any crypto currencies into it in order to avoid loss in future. 

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Although funds on exchanges even centralized or decentralized are risky for investors but we have necessary if we want trade with our funds then it is necessary for us that our funds must be in exchange wallet other wise we are unable to trade. 

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Yes that's true never leave your coins in any exchange even if it's secure the way you dont trade with them dont leave them there, that's why we have wallet 

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On 1/21/2020 at 11:29 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

Hello my dear friend. You are absolutely right. I'm totally agreed with you. We should never leave our coins in an exchange platform for so long. Because it is very risky. You can store your coins I the wallet instead. 

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I agree with you. Currently scams and hackers are many, they are always looking to steal users' money, if you put a lot of money in an exchange when hackers hack 1 exchange they will take all your money.

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It ks fool that can do that. I leave little though because we must trade. Like now, I have 0.002 btc on yobit. I will use it to trade. 

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Yes, this is very important advice for those who have a lot of money in the platforms should transfer them to the foreign portfolios, but for me I am ready to take the risk and leave them on the platforms.

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Try a great platform of exchange like yobit or binance there are the best and try to take course about treading or forex to work in the right way 

  • +2 1

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On 1/21/2020 at 7:59 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 find this a rule somewhat outdated. Naturally the money will be safer with you but i am fully trusting in some exchanges these days (not all of them of course) I wouldn't hold anything in some of them. Back when this rule was essential there were lots of more shady exchanges and they were doing exit scams way often. I mean even the big ones were very shady.

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On 3/15/2020 at 12:11 PM, Peter Urban said:

I trust Binance. Someone had steal some crypto from there and they paid people from their fund, which is paid from their income. I have only few dollars in ETH and WBTC on Coinbase wallet.

That is why it is a big company and has more users because users had nothing t fear from bance

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i agree, by no means go away your coins on centralized exchanges due to the fact whatever can happen and you can lose the ones money in exclusive methods, hack, scam, and many others.. however i do not recognize why you cited the decentralized exchanges too due to the fact on the ones dex exchanges you own your keys so in the event that they close their website you would nevertheless have your coins secure considering that they by no means left your pockets

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7 hours ago, Evu said:

Hello friend, i think some exchange apps are very trusted they do not break the trust of anyone they are working from a long period of time so these are not harmful and never scam the users. 

That is what we always thought with the wallets that have hacked us before, don't make yourself learn from that mistake while you can avoid it now.

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Actually i am not sure about it but you can not

Leave bitcoin in exchange you have to do

Withdrawal your currency earn best amount 

Daily.

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