The danger of leaving your money on an exchange!

[Siam50 923]

Of course, exchange money consciously on the exchange site.  Now there are many fake sites where you can lose money.  So be sure to trade with caution.  Choose trusted sites for exchange.  There are many types of scammers in crypto you can lose money if you are not aware.  So take every decision step.

[Elena951 446]

Dear friend I don't know well about this.  I have very little knowledge about this forum.  So I can't give you the right explanation.  I'm sorry enough for that.  But I will try to know better about this.  I hope I get the idea through your post.  Thank you for posting what you need.

[Ali baba 282]

Yes you are right that we have to be careful because hackers do not give you the second chance ,so do not use exchanges as your wallets and do not store your funds there and keep your funds at secure wallets.Be responsible.

[Farooq Hussain 181]

@johant.in crypto talk organization can help one another who is a wonderful thing. It can be very problem in this site. These are discus. Earn can not be received.

Account banned dangerous. 

[Roman Wickler 1021]

Yeah you're rigright . Whole internet is full by scammers . They always try to steal money from others. So we have to be careful for what we are doing. Because we can loose money from scammer exchange. We must aware of that . Everyone please be careful while exchanging. 

[Crypto manage 126]

That's in reality right, we do not require at any method of reasoning to store huge degree of our cash on a exchange for endlessness. In spite of the truth that that exchange is significantly trusted, fair to be more cautious in light of the truth that there are also a ton of software engineers which will take your balance within the occasion that you've been tumbled to their catch. Continuously secure to begin with any record of yours that has cash. Besides, do not open any wallet or exchanges after you are related with a open wifi.

[Bukarr2 78]

Every point of view are okay and I have grown some knowledge through it and am happy as I make some research on it also thanks for sharing this Buddie.

[Mr. Johan 516]

There is a net of scammers everywhere and scams everywhere and it is difficult for those who want to work honestly to work. We must take precautions and not share our private key with any unknown person and try to make our account safe and secure and not make the mistake of sharing our personal information on any fake website.

[Fazihere07 109]

There are lots of hackers spammers here so we should be aware all of this type of peoples and avoid to collect and safe our money on exchange we should do withdrawal time by time its benefit for us because no one is know each time spammers getting attack on us.

[hsa0188049 213]

Certainly, one of the greatest types of risks is leaving your money in the stock exchange, because in one moment, you can lose everything in a flash ... But you have to balance things and you must be experienced in order to enter this field

[Rafin478 614]

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!

If we leave our money in the exchnager then our money is in danger.Nowadays the number of hackers has increased a lot so Exchange is being hacked a lot.If we leave money in the exchanger, our money can be stolen.

[akramtariq 1]

Keeping a large amount of money in one account can be no less than a loss, so choose a durable account to save your money and also do not keep money in one account for exchange for a long time.  This is the most important and necessary thing for you so that your money is not confiscated or scammer can attack your money.  So you choose the best account for your money that is based on all kinds of basic and strong security.

[Emoakter15 32]

fine then you already water right, web may be weighted down by way of rascal therefore we must keep an eye out given that what on earth we have to underachieve , for the reason that we will put and our own bread given that an swindler tradeoff, prior to doing the same whopper  have to cherche it commutation.

with the condition that we need to bear in mind, work along with conducting surveillance to guard we against disadvantages epithetical inhume plus fiat currencies, for the reason that we're at spectacular mildness containing incidents, as well as forgeries in order that we have to understand how to spot powerful opposition to go into powerful field epithetical central banks, on the general internet nada  it's unharmed thus take no chances.

[11crypto123 82]

I prefer to withdraw currencies every period from the platform to the wallet, as the security ratio is greater because the platforms and the stock exchange are highly vulnerable to fraudsters and the risk ratio is higher.

[Usama110 39]

@johant123 Hi dear, yeah there are many scammers on internet ,so to shield your money don't  leave your money on any exchange,if  you did this you can save your money otherwise you may lose it. Be aware of scammers. 

[Wayne 11]

If you've the person you intend to exchange it would be best to look for it in genuinity. Or you may have joined the wallet with the scammers and your money will lose. So do everything only after you really know it

[Sophie0011 261]

It's pretty dangerous. So many exchanges have shut down and not returned people's crypto. Bitfinex is one of the largest exchanges still running that got hacked and lost funds.. and of course, mtgox was the biggest exchange ever in terms of BTC. Even if the exchange doesn't get hacked your account might. So many people have lost funds from coinbase due to sim swapping.

[Lx Lana 40]

We all should not leave our money in a wallet we should use a wallet that has a private key to avoid been dope in the exchange of your money and also be carefull of those that are scammers 

[Malikjnb 1235]

In my opinion it is very dangerous of leaving money on any exchange. We know that there are many scammers and spammer's are here. If our exchange hacked or secmed we lost of our all money. There for I suggest you not leave your money in exchange.

[Kibe 352]

Yes I agree with you with this one need to make sure you keep all your private password within your self and make sure your wallet is controlled by you without a third party so that your money will save, thanks.

[alamin009 36]

yes I'm totally agree with your point of view. Leaving our money on exchange sites can be dangerous. It is a decent exercise for everybody as we see trades get hacked so frequently and we need to make sure about the coins.

[Sumsad 1159]

if so, it is safe to store cryptocurrency absolutely everywhere, because any site can be hacked by hackers.

[Fatima Zohra 250]

This thing is really very bad and it is also very risky there is a fear in all the things that we can never provide our private key to anyone we just have to do our by carefully and never will even anyone and never give our private key to anyone.

[Lion heart 71]

On 3/25/2020 at 2:18 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!

Indeed you right, web is full by tricksters so we must be cautious for anything we need to do , in light of the fact that we can lose our cash for a con artist trade, prior to doing anything you need to cherche about this trade.

[lubinshah 562]

this is very true , also recently kucoin was hacked and lost about 150 millions of dollars , this was very bad news to crypto users especially kucoin users but the owner said their money will be returned and the platform will take the loss , but anyway not every platform will do that so never leave all your money in one place