The danger of leaving your money on an exchange!

[David miller 420]

Very good and effective concept raise in this forum and related,it is very useful sharing information in this forum because there are many things for danger of leaving,you should be great post in this forum.

[Adam786 560]

You are right friend we should prefer to use the wallet to store our money instead of exchange because by using the wallet we have private key and no one can access our wallet without having key. Therefore we should store our money in our wallets because at the exchange we can lose our money easily.

[Makxxx23 103]

 

Its very danger for putting away your crypto's to a trade, on the grounds that occasionally the trade may be hacked or the trade would close down in your nation while you are not educated.

[jack88 427]

Thanks for the warning, my friend. This is valuable information. But I think that our money will be safe if the stock exchange is large and has a good reputation that protects itself from fraudsters. Thus, even if the amount is large, I have no fear of theft.

[Chottisas 330]

Thank you for your advice it's a good idea, I'm a brown new member here living your money on exchange site it's at owner risk, Because scammers and harker are everywhere now just to hark your money, if you want to do exchange used your wallet it's saved for you and I know this platform is trying is best to increase the level of there site.

[AL SHAIMON 1293]

I am completely agreed with we should never leave our coins on exchange. In past we saw lots of exchange off in past. But wallets are the most safest place. So you should transfer your coins to your wallet and hold them there. If you do not need them now. 

[A beer04 208]

Hello my friend, we must beware of fraudsters. We must also have a private key for our wallets. We must leave our money in other places. We must be very careful about these fraudsters. We should not trust them.

[Emmi Malik 139]

We dont have to store our money for a long time on exchange site money can be hacked because the hackers are always carefull to hack money and we csn forget our password and information for verious reasons and when this case happend then we were not able ol collect money .

[habib ur Rehman 207]

You're absolutely right friends is a risk leaving our money on an exchange as you indicate we should try to have our money in the wallets of our performances..

[Bolubobo 319]

Wow thanks for this useful update am sure you have done a really good job I hope to see more of you this the post as help me to be informed

[Oki 675]

Thanks for reminding us. Leaving a lot of money on the exchange carries the risk of losing your saved money, the exchange is also at risk of being hacked so don't leave all your money there. Leave a small amount of bitcoins to trade on exchanges and keep your Bitcoins in a secure private wallet, trust no one. This can minimize the loss of all the bitcoins we own.

[Mir Hamza 2888]

My friend, you have shared a tremendous information with us. We should never leave our money on any exchange, it is better that we get it out of there. As you said, if we lose our private keys, then all our money can be lost. And if a hacker can hack our wallet or our exchange, we can also go with us. 

[Pablo456 400]

Friend, thank you for letting us know about the danger of leaving our money in an exchange, now we know how dangerous that is, so thank goodness I found your topic, because see if one day I left all my money in an exchange and this happened to me and the guilt was only going to make me thank you for making this topic so useful in this section.

[John cream 23]

It would be risky to left balance in exchange. But exchange like yobit is very good about security. I never lost any my balance in yobit do far. I am happy with the security

[alaarami 103]

Thank you, dear, for this wonderful advice, of course there are many sites that have various methods in order to defraud you, but you must pay attention and not leave large money and we always have to take the necessary measures in order to benefit and not lose our money as the key is not your owner

[BinatGul 30]

Our assets will be more secure if we only use good and high exchanges in the corrupt market because these exchanges are so big in case of failure, they can compensate for our loss and if we make low level exchanges we will use Small. They were stopped moving in case of interference. Our funds were stolen.

[Aliraza2 318]

Security is on first peoirity when you want to use exchanger then you should to transit your full amount other wise not drop any coins or money on the exchanger that is case your loss money.

[ZAIN13 237]

Currencies should always be kept in the wallet and not on trading or investment platforms,
The wallet remains more secure, especially well-known and trusted wallets such as Blockchain.

[khaler 1549]

We must all be careful in this field because you should not waste the keys of your wallet because this will lose you what you have inside of it and also not believe all the deals offered to you, you must make sure first.

[online123 992]

On 3/25/2020 at 3:18 AM, johant123 said:

(Posting this on the section for beginners on purpose, because I want to warn them)

 

Here is another case of the owner of an exchange losing the private key that gives access to a large stack of Bitcoins, probably not even belonging to himself. The timing is most unfortunate (for everyone else) because the exchange owner was under investigation already;

 

https://thenextweb.com/hardfork/2019/11/01/ceo-loses-private-key-crryptocurrency-exchange-wallet/

 

This link was shared here in the forum earlier, but the comments from many of the members really scare me! Many seem to believe that the owner really lost access, and was a very careless and unlucky man. Well ... that is possible, in theory .... but ...

 

I think there are two things going on here:

- isn't it very convenient that the owner loses the keys when the funds are under investigation?

- this shows that your funds are never really yours, unless you have the private key of your wallets!

 

The most important lesson, in my opinion: never ever leave large sums of money in an exchange, or in a custodial wallet! And don't believe someone just on his sad story ... it may well be a fraud!

There are some good strong security exchanges in which we can keep our currency for sure but there are some low security exchanges in which keeping currency is very dangerous.So we look at the exchanger's security system and we will keep our currency but it is best if we keep the currency in the wallet.We must keep our private key passwords in a safe place.

[betania1 283]

On 3/24/2020 at 5:18 PM, johant123 said:

(Posting this on the section for beginners on purpose, because I want to warn them)

 

Here is another case of the owner of an exchange losing the private key that gives access to a large stack of Bitcoins, probably not even belonging to himself. The timing is most unfortunate (for everyone else) because the exchange owner was under investigation already;

 

https://thenextweb.com/hardfork/2019/11/01/ceo-loses-private-key-crryptocurrency-exchange-wallet/

 

This link was shared here in the forum earlier, but the comments from many of the members really scare me! Many seem to believe that the owner really lost access, and was a very careless and unlucky man. Well ... that is possible, in theory .... but ...

 

I think there are two things going on here:

- isn't it very convenient that the owner loses the keys when the funds are under investigation?

- this shows that your funds are never really yours, unless you have the private key of your wallets!

 

The most important lesson, in my opinion: never ever leave large sums of money in an exchange, or in a custodial wallet! And don't believe someone just on his sad story ... it may well be a fraud!

This is somewhat scary, but we must accept that the best way to earn money with cryptocurrencies is through exchanges, so it is not something that can be easily avoided, so for now we only have to be careful where we keep our money and choose very secure sites.

[Mrbeen890 5]

We can forgotten our password and information for various reason and we must know how to identified the enemy to enter the field of cryptocurrrncies on the internet nothing.

[Miad 371]

For exchanging money you have to use wallet.   Be careful for your wallet. You should provide a strong  password by providing   special  character,  number,  capital and Small latter.  If your password is strong so that hacker can't hack your account.  But if you provide a  poor password so that hacker can easily hack your account.   

So be careful in your password and use your wallet safely.  Be careful  

When you provide your information in online sector.   

Do work seriously and enjoy your earning. 

Best wishes❤❤   

[Zafarsupari 2 63]

Well my friend don't do that otherwise it's proved a very harmful girl you. Always don't leave on any exchangers Because the hackers need a little clue to reach our account and stole money. I always take all of my money into my bank account and never leave on any exchangers

[Rileynixon 208]

Come take at look this interesting topic I will like to discuss with you members. Leaving your money on your wallet for exchange is one of biggest risk.  Do you want to know the reason? . The reason is that scammers are colonizing websites to  steal people's money. So, let this be experience for who is reading and never fall into trap.