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alz190

Never leave your Bitcoins and Crypto in an exchange

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I agree, I do not have the habit of keeping money in exchange, of course there is keeping money in it but it is not much. I feel more secure in my wallet

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How can we trade it? However, additional funds must be in the crypto wallet. There are two reasons security is used to protect your fundsWe need Bitcoin for trading from the exchange because if we store in our BTCT wallet.

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i've never heard it before... i didn't know about it.

 

I always thought that store on coinbase or coinomi, uphold for example it's easy way that hardwares wallets.

 

 

But now i know that.

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You're right bro, we never leave your bitcoin and other crypto in an exchange. because for security reasons, but I think it will cost a lot if after trading on the exchange we always withdraw cryptocurrency to the wallet, so we also need to have a balance on the exchange to trade.

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1 hour ago, Motaleb009 said:

If you are into crypto then chances are that you have dealt with a crypto exchange. Though there are 2 types of ...Many of them still have those Bitcoins in their Coinbase ... entered the crypto space after 2014 and have never heard  ...

What does some people still having coins in coinbase specifically since 2014, have anything to do with leaving crypto on exchanges.

Edited by guatazoo

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On 1/21/2020 at 6:59 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 agree, never leave your coins on centralized exchanges because anything can happen and you can lose those money in different ways, hack, scam, etc.. but i don't understand why you mentioned the decentralized exchanges too because on those dex exchanges you own your keys so if they close their site you would still have your coins safe since they never left your wallet

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1 hour ago, Arjii100 said:

That's why I Will bougth hardware wallet NANO S for safe my asset cryto.

I Will stay my balance if I'am trade on there.

If  I no want to trade I Will safe my asset in my hardware wallet.

That's great, i never used a hardware wallet, tell me do you think i is necessary to have it over online wallets? in your experience?

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Nice update but I think this will depend on the type of exchange you put your funds in because Binance exchange and yobit.net is safe for making transactions and hacking Binance exchange is a big one for them

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You are right there great infor for beginners I think your post explains it all to some of beginners here who mistook yobit exchange for a wallet

 

...thanks for an eye open..

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Thank you very much brother to post such a useful and advancement post. Before reading your post I thought that I earn btc from ptc site and stored in my wallet. After that I change my btc into ETH and ETH into BTC and make a good profit from Exchange. But now I decide I never do this.  Thanks again.

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leaving crypto currencies in exchanger may be convenient for us when we want to trade without the need of transferring,but its not safe to store it if you are holding a coin for long term,because it us prone in hacking. so better use crypto wallet.

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On 17.02.2020 at 19:24, ijustloveu said:

Right now a set of switch over is mortal hacked or it is becoming very restless to support notes in the stand. We ought to not at every part of hired hand down our revolution in the exchange.  Should be checked seldom and in custody in keep back in a careful place.
 

Yes there's a hazard of putting away our crypto coins with any trades since there are most of the exchanges which isn't well secured and secure so it difficult to discover an trade for putting away the coins for a long term.

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I personally say that your words are correct, at the moment, many stock exchanges are penetrated or it has become very difficult to keep money in the position. We should not leave our money in the stock exchange, it must be checked from time to time and kept in a safe place.

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Well in my years of using binance even I store my coins there for a long time I didn't fave any problems such as loss of coins or what, so maybe it is the matter of what platform you will use if its legit r what.

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On 2/6/2020 at 7:59 PM, Crypto555 said:

That's a very good advice. Even if we are talking about a very popular exchange this doesn't mean your coins are 100 % safe because those exchanges can still be hacked and you coins stolen 

Everything can be hacked so absolutely nothing is safe in the online world. That's why experienced people will always recommend you to keep your coins on a paper or hardware wallet 

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On 1/21/2020 at 7:07 AM, Jeet Narayan said:

Yes you are right. Right now a lot of exchange is being hacked or it is becoming very difficult to keep money in the stand. We should never leave our money in the exchange.  Should be checked occasionally and kept in a safe place.

I don't think I can leave the Cryptocurrency world now for the reason that I make more profit in it more than anything else and it has exposed me to know more about business

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yes you are right my friend , do not leave the money you will hold on exchange , 
only if you tend to trade , if not put your money in cold wallet and save the private key in protected place when need transfer from it , because exchange may be hacked at any time also your account may be stolen from any hacker by a little mistake from you , so do not put all the eggs in one basket 

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public be supposed to used up a a small amount of of their time to appreciate that exchanges container be hacked and shut up down without paying no matter which back. It happened with MtGox and other sites in the past. They bottle exit rip-off as well, claiming they were hacked and of choice they receive no obligation to forfeit posterior the client as still keeping pace exchanges don't neediness to afford any conceal for losses if these issues occur.
 

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On 1/21/2020 at 6:59 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

Yes, this is a good advice. Too many members are thinking that an exchange is a wallet.... They came in crypto few times ago and they never heard about MtGOX and Cryptopias stories...


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You are right !If we don't want to trade with our money and want to hold them so we should put them in a secured wallet and not in any exchange!

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On 1/21/2020 at 10:59 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 was also thinking about this that this could be a way too risky to do so. Cause they can scam us at every times.

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Yes I agree with you and we can't leave crypto currency with exchange, because we have so many legit exchange to store our coins, but don't store all coins in one exchange, I think use two exchange store our coins,when any one exchange got hack and stolen our coins but we another exchange their our other coins are safe, so I strongly suggests use two legit exchange to store our coins.


 

   

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It could be very dangerous to leave our fund into a exchange . Because last few years there are a lot of hack attack into crypto exchangers . So if possible make sure to store crypto into hard wallet.

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In my opinion, we should still keep trading capital on the exchange so as not to be charged transfer fees every day. But maybe we can send our profit at the end of the day or twice a week depending on how comfortable we are.

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