The danger of leaving your money on an exchange!

[Dark_Sky 8489]

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. 

[pablomarwan 3082]

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.

[Dark_Sky 8489]

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. 

[Tine0313 3053]

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.

[Mcd0d0 5882]

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.

[Thekingcallme 1975]

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

[guatazoo 7150]

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. 

[magd 5231]

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

[Soaib khan 1035]

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 

[Bohana 2143]

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

[Captain Karim 0]

I think the best place is to keep your money in a safe wallet.
I personally use atomic wallet it's great i recommend it to everyone.

[CryptoLover21 0]

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.

[Tine0313 3053]

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.

[Mcd0d0 5882]

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.

[Sarahden111 1231]

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.

[Strygwyr 317]

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.

 

[Tunuu 2235]

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.

[Izeal 4404]

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.

[benalmoh88 1500]

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

[Solex 2262]

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.

[Dark_Sky 8489]

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. 

[Magnom 0]

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 ! 

 

[kitekite24 4162]

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.

[sayems 1513]

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.    

[Mcd0d0 5882]

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.