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The danger of leaving your money on an exchange!

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On 3/27/2020 at 6:27 PM, lharost said:

Exactly right, you can use exchanges and do your trades as much as you want but don't count on exchanges to be your bank, because it is possible for them to get hacked and you lose your money.

Always protect our account in hackers no matter what happen. 

We must prioritize the safety of our coins at all cost. 

Always make sure you will not lost any amount because of scam. 


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It is necessary that you take precautions in your work, what you do, and with your minds, you will lose everything you own and this is what we do not want. Recite what happened to the platform owner. Although this story is doubtful that he is the owner of a platform that has many things that he can protect himself if we say that he was hacked he will re-solve the problem. The significance of the story is clear. Do not be afraid of any news or any portfolio that you depend on. You must keep your belongings in a safe place and change from time to time as well. Not everything related to this field is secure.


Учитесь, учитесь и учитесь на своих ошибках :classic_smile:

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On 3/27/2020 at 5:42 PM, guatazoo said:

Its very risk for storing your crypto's to an exchange, because sometimes the exchange might be hacked or the exchange would be shutting down in your country while you are not informed.

That's possible so much better if you have external portfolio to avoid the lost of your money. 

Beware on some things that may cause scam in your account or transactions. 


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I think there is no danger in leaving your money in exchange if exchange you are using is the most trusted but i agree with you that we need to be more careful when using exchange so that we also avoid losing our money and it's for our safety then.

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Well, i think that exchanger is not totally legit and having an small number of users, there's a tendency that the exchanging sites will being loses their money so that they will forcely closed it, unlike from yobit exchanger, I'm feeling safe with it by just staying my coins there.

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Yes, it is dangerous to leave your money in the platforms, especially if they are large quantities, but I have no problem keeping my currencies in strong platforms such as binance and yobit


 

Life is great and enjoy it

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On 6/2/2020 at 5:14 AM, Dark_Sky said:

That's possible so much better if you have external portfolio to avoid the lost of your money. 

Beware on some things that may cause scam in your account or transactions. 

Thats why we are recommended to use the different password with different exchange, because if you use same email with same password, because untrusted sites can try to use your details to other sites. 

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There are a lot of popular platforms through which you can get your money back even if you lose your private key but the risk of leaving currencies on the platform is that this platform is closed without returning the money to traders as happened in some of the new platforms and this matter we will not get to you using Binance or Yobit


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On 4/5/2020 at 12:10 AM, iloveyobit said:

I do not like or advise anyone to leave all of their money on one platform because if they are hacked all your money will be lost, it is very safe to separate that money on many platforms.

I agree with you these days many cryptocurrency exchange are getting hacked so right now our money is not safe on exchange so I will recommend you to use physical wallet because they are safe 

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Thank you for these great tips, but in your opinion, where can I raise my money to be more, there is a safe place that I can rely on

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Yeah, leaving your money on an exchange is very danger. But you can use the great exchanges like binance and yobit which are a bit safe than any other exchanges.

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On 6/2/2020 at 11:47 AM, Mcd0d0 said:

Well, i think that exchanger is not totally legit and having an small number of users, there's a tendency that the exchanging sites will being loses their money so that they will forcely closed it, unlike from yobit exchanger, I'm feeling safe with it by just staying my coins there.

You have a point buddy. If you lose your money in the exchange, I think there's a possibility that exchange is scamming its user. We need to make sure the exchange we are using is 100% legit so we don't lose our money.

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4 hours ago, CryptoLover21 said:

But you can use the great exchanges like binance and yobit which are a bit safe than any other exchanges.

Well, i will agree with this because I'm also using a binance and yobit, this two are trusted exchanger sites which you can leave your coins there freely because this is 100% secured and no one can get your money there, so you must try it guys.

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The risk exists when you leave your money in weak or known platforms, such as the example you mentioned, but like Yobit, it is a platform with a reliable position and any defect or error occurs,contact with support and compensation is made in case the error is proven.

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That is actually right, we do not need at any logic to store huge amount of our money on an exchange forever. Even though that exchange is highly trusted, just to be more careful because there are also a lot of hackers that might steal your balance if you've been fell to their trap. 

Always secure first any account of yours that has money. And do not open any wallet or exchanges when you are connected to a public wifi.

 

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You are right, exchanges are not that safe for storing our crypto for a long time because many people can access exchanges easily than wallets. Exchanges are good for trading or investing our crypto currencies then send the profit to wallets.

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Is leaving some amount in the verified exchange like binance and yobit is also danger? I have little amount of money in those exchange sites. Hope they won't disappear.

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the exchange wallet is a temporary wallet, we can use it for trading and if we are earning good amount we should be transferred to our strong wallet

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Some exchangers are good in terms of security while some are not and for that reason I think leaving coins in an exchanger is not safe because immediately the exchanger got hacked definitely one will loss there funds or just the way it was stated in this topic if  the developer loss the private key everyone that have coin in that exchanger have lost forever, with that I think creating your own personal blockchain wallet will be more safer because everything will be in your position and you will know how to handle it with care because you won't like to loss.

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On 3/25/2020 at 11:48 PM, Shahud said:

as we know many people use exchange to store the money but it is risky to store in the same because it is having chances of getying attacked by hackers.so better wo store it in a hard ware wallet 

That's why never leave your cryptocurrency in exchanging sites to avoid the lost of what you have. 

Much better if you prioritize the safety of your cryptocurrency no matter what happen. 

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I think we can keep our coins in some platforms if we don't need it right now ! Because some platforms are really trusted and they have their name and their reputation ! They are always with you .

For me Yobit and Binance are the best place to keep your coins with it 

Because I tried them and I kept my coin for 5 months without any trading or investing process ! 

 

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This was a great content that you made my friend in this is a good warning for those who will go in exchanging system. I suggest to those who want to go to exchange don't put all of your earnings there just try to think before you place your money their because if you will not always there then in any time your money will all be gone.

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I never thought of it that way, you are right  danger of  leaving our money in an exchanger. We don't know our exchanger site how much safe, because everything was out of our control. So we need more safety about this thing.    

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On 7/13/2020 at 12:10 AM, Strygwyr said:

Even though that exchange is highly trusted, just to be more careful because there are also a lot of hackers that might steal your balance if you've been fell to their trap

Well, there's a lot of people leaving their coins or money to exchanger sites and don't being fear to hacked your account because trusted sites are having a good security system to be sure that their users are safe.

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McGlone emphasized that the Tether (USDT) stablecoin, pegged to the US dollar, typically trades twice as much per day as bitcoin. "I can access the US dollar anywhere in the world from my phone using Tether. Tether is the number one trading token. It's the number one cryptocurrency for trading. It's the dollar. The whole world has moved to the dollar. Why? Because it's the least bad of all fiat currencies," the Bloomberg expert stated.   While Mike McGlone merely downgraded bitcoin's attractiveness, Cardano founder Charles Hoskinson simply buried it. He equated bitcoin to a religion and stated that the industry has outgrown its dependence on it. According to Hoskinson, "the industry no longer needs bitcoin to survive." He pointed out critical threats to the leading cryptocurrency, including insufficient adaptability and dependence on the Proof-of-Work algorithm. Franklin Templeton analysts, on the contrary, consider L2 protocols, along with Ordinals, Runes, and DeFi primitives, as one of the main drivers of bitcoin's innovation revival. Strike CEO Jack Mallers defended the first cryptocurrency. According to him, the Lightning Network, created for instant and cheap transactions, a second-layer solution based on the BTC blockchain, can further increase the demand for the first cryptocurrency. Mallers believes that thanks to this, bitcoin can be used for everyday purchases, such as paying for a cup of coffee. Former BitMEX CEO Arthur Hayes called the native token of the Cardano blockchain (ADA) "dog shit" due to its low use in protocols.   As of the time of writing this review on the evening of Friday, 31 May, ADA is trading at 0.45 USD per coin, while bitcoin and Ethereum are faring significantly better: BTC/USD is trading at $67,600, and ETH/USD at $3,790. The total cryptocurrency market capitalization is $2.53 trillion ($2.55 trillion a week ago). The Bitcoin Fear & Greed Index remained almost unchanged over 7 days, staying in the Greed zone at 73 points (74 a week ago).   It should be noted that ETH/USD failed to break through the $4,000 resistance this past week. The local maximum was recorded on Monday, 27 May, at $3,974. The lack of an immediate pump is explained by the fact that everyone who wanted to buy Ethereum in anticipation of the SEC's historic decision already did so. Meanwhile, according to some analysts, there is a high probability that immediately after the launch of the long-awaited spot exchange funds, Ethereum will enter a deep drawdown, similar to what happened in January with bitcoin. Then, over 12 days, it fell by 21%.   One of the key reasons for BTC's drawdown at that time was the unlocking of GBTC fund assets from Grayscale, which was converted into a spot fund from a trust. It began losing investments daily at a rate of $500 million. It is possible that something similar could happen with Ethereum, where Grayscale's ETHE fund holds $11 billion worth of ETH. As soon as this fund is converted into a spot fund and its assets are unlocked, short-term investors might start taking profits, potentially causing ETH/USD to fall to the strong support zone of $2,900-3,200. Pessimists among bearish factors also cite the uncertain legal status of the altcoin, as the SEC has not yet clearly defined whether ETH is a commodity or a security. Additionally, the regulator has many complaints about the staking program.   Staking is a way to earn cryptocurrency by "locking" a certain amount of coins in a wallet on the Proof of Stake (PoS) algorithm to support the network. In return, the user receives rewards in the form of additional coins. According to Wall Street legend Peter Brandt, "the biggest disasters in the cryptocurrency sphere that are yet to happen will be related to staking." The expert noted that such assets as Ethereum are often rented out to earn such income, often in the form of interest, which strongly reminds him of collapsed financial pyramids. As staking becomes more widespread, Brandt warned, it could attract increased attention from central banks, treasuries, and other authorities. This could lead to tighter regulation, significantly altering the crypto space and potentially resulting in the cessation of staking and bankruptcies for those involved. NordFX Analytical Group   Notice: These materials are not investment recommendations or guidelines for working in financial markets and are intended for informational purposes only. Trading in financial markets is risky and can result in a complete loss of deposited funds.   #eurusd #gbpusd #usdjpy #btcusd #ethusd #ltcusd #xrpusd #forex #forex_example #signals #cryptocurrencies #bitcoin #stock_market   https://nordfx.com/ 
    • Даа, кроме нас на форуме остались рекламщики обменников и все). А у вас было монета not, он очень хорошо вырос. Надо было покупать сразу после листинга. Даа, упускаем моменты). Биткоин продолжает коррекцию делать, а я купил какие то щитки и вынужден ждать. 
    • Крупный банкир получил тюремный срок за криптомошенничество   Бывший инвестиционный банкир Рашон Рассел приговорён к 41 месяцу тюремного заключения за мошенничество с использованием цифровых активов. В результате расследования правоохранительные органы США выяснили, что обвиняемый начал опробовать свою мошенническую схему на друзьях, бывших одноклассниках и коллегах по работе в криптофонде R3 в ноябре 2020 года. Рассел обещал им гарантированную доходность инвестиций от 25% до 100%. Чтобы его слова были ещё убедительнее, он пустил в ход свой опыт инвестиционного банкира и сфабрикованные документы (поддельные счета, переводы). Сначала он использовал часть полученных обманным путём средств для выплаты долгов более ранним инвесторам. Остальные деньги Рассел тратил на азартные игры и поддержание роскошного образа жизни. Такая мошенническая схема работала до августа 2022 года. В апреле 2023 года Рашона Рассела арестовали, а в сентябре он признал свою вину. Тогда же выяснилось, что Рассел незаконно приобрёл около 100 кредитных и дебетовых банковских карт на имена других людей. По мнению следователей, он планировал использовать карты для проведения транзакций с полученными незаконным способом деньгами. Минюст США подсчитал, что потери инвесторов от мошеннической схемы Рассела составили $1,5 млн. Именно эту сумму подсудимый должен выплатить своим жертвам в качестве компенсации. Источник - https://ru.investing.com/news/cryptocurrency-news/article-2428894
    • CryptoRank поделился списком крупнейших разлоков июня.        Будьте осторожны в отмеченные дни, ведь увеличение предложения может вызвать давление со стороны продавцов. ARB — $105.21 млн;APT — $103.03 млн;UNI — $87.93 млн;STRK — $75.67 млн;DYDX — $66.3 млн;SEI — $63.81 млн;ID — $55.82 млн;IMX — $54.96 млн;MERL — $42.21 млн;ENS — $36.65 млн.  
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    • В Татарстане построят майнинговую ферму стоимостью $100 млн   В Иннополисе, городе высоких технологий в Республике Татарстан, реализуют майнинговый проект стоимостью $100 млн. Об этом на криптофоруме в Казани сообщил заместитель премьер-министра Татарстана Роман Шайхутдинов и заместитель министра цифрового развития, связи и массовых коммуникаций РФ Александр Шойтов.     В 2023 году Россия поднялась на второе место по майнингу криптовалют. По оценке экспертов, в майнинге может быть использовано до 5 гигаватт электрической мощности, что позволит стране занять лидирующие позиции в отрасли, — сказал Александр Шойтов.   В середине февраля компания по добыче биткоинов BitRiver также обнародовала планы по запуску крупнейшего в России дата-центра, ориентированного на искусственный интеллект.   В РФ пока нет чётких правил по контролю майнинга. В конце апреля российские законодатели представили новую версию законопроекта, направленного на регулирования рынка добычи криптовалют. По словам одного из его авторов, правила могут вступить в силу уже в сентябре этого года.
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