The danger of leaving your money on an exchange!

[Alfonzuelo 25]

That's why it's better to distribute your capital if it's very big in different platforms, in my case I use first Yobit and Binance to trade between cryptomonies and Trust Wallet and Uphold to keep my money.

[daveontario07 92]

hey , i just want to share life is a full of risks and profits, only you should have to choose the right time in which you will get pay off or loose . but if you cant able to take some risks then you never become rich or sucessful person. so the thought or leaving your money in these exchanges you found danger then you have to out from these exchanges.

[Rawad933 159]

Thank you for the advice, you are right we should not leave too many cryptocurrencies in one wallet, and better not put the wallet keywords in the mobile device or in a place that is easy to detect

[HICHHH01 62]

Thank you
This is absolutely true, especially after you have fallen victim to fraud
I advise everyone not to trust me
1 Unknown links
2 Unknown programs

[SOLCITO 28]

Well, I don't understand much about you having lost access to a large number of BTCs, because exchanges currently have individual wallets which can only be accessed by the users themselves, and not by the exchange owner. That's pretty weird.

[freelancer2097 71]

On 3/25/2020 at 1:48 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!

i always mentioned that online exchanges are only for exchange and holding your coins for a long time in those websites not recommended. when you done your trade it's better to move your main coin to your wallets.

[Dgeo 30]

Even the exchange themselves, advices not to leave big money on their exchange. This is because the exchange can be hacked at any time and your funds could be stolen from the hack. 

[mohamedpc1 2213]

On 3/24/2020 at 10:18 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!

Yes, a topic worth discussing, especially since there are many beginners who do not know the danger of leaving their own money in the platforms There are many platforms that have defrauded users and plundered their money, such as Cryptopia, which closed the platform more than two years ago. So I advise everyone not to leave all their cryptocurrency coins in the platform

[david51 44]

It is better to transfer your money to your own wallet and if you have large amount of money, distribute it to several wallets and dont save your private keys on your phone or computer. dont click on the links you are not sure about it.

[Puzcoin 17]

If you store big sums of money at exchange, keep your account data in secure and follow safety recommendations to prevent stealing of your money. If you have really BIG sums and don't want to trade them in near future, hold them at cold wallet.

[luis19btc 38]

19 hours ago, orejamordda said:

yo creo que es seguro que esten en las billeteras, es como que digas que no es seguro tener tu dinero en un banco, de ser asi mi consejo seria que vendas tus monedas o fragmentos de ellas y te compres acciones fisicas

si no tienes las llaves privadas de tus criptomonedas no eres el dueño de tus criptos no degar todo tus criptos en las csas de cambio solo lo necesario para especularn mi consejo es siempre diversificar en distintos activos no tener los huevos en una sola canasta,

[CRISTIAN FERNANDEZ 32]

Leaving most of my income on an exchange is risky, but those risks become less if you do it on a platform that has a history and continuous growth, such as the recently hacked kukcoin platform, but being a serious exchange and being among the largest exchanges, it was able to respond to its users without causing a great loss of credibility and trust to its registrants.

[Vaiopis 42]

Even popular and trusted exchanges are not protected from wallet hacking, so it is still advisable to leave the amount of cryptocurrency that is needed to complete a transaction, the rest is easier to store on a secure wallet

[nana1607 42]

I think you are absolutely right, we should not make that kind of mistakes making exchanges since there are many scammers.

[Dilmer Agudelo 13]

It is always better to have control of your crypto, if you are going to invest, do not invest more than what you are not willing to lose, investments are always risky and what happens to them is only our fault....

[Yeroth 90]

 

It is not a danger since there are several exchanges that are decentralized And that is good because if you lose your Wallet you can only recover it With the key and It is not very risky since like the Binance, Yobit, Kucoin exchanges are sure exchange that already He has been working for several years AND There are no bad reviews about those Exchange ...

[gabbiano 38]

leaving your money on online exchanges is not exactly the safest solution.

In fact, they are not guaranteed like banks.

Just see what happened to KuCoin.

A hacker attack and a lot of money are gone.

Better to have a hardware wallet if you have a fair amount of money!

[murataslan61 44]

you are totaly correct we shoul keep our money ın col wallets to keep  safe. these days offen we hear about hach atacks on exhange.

[OMAR RODRIGUEZ 48]

If I am aware that you cannot leave a lot of money in the exchanges, that is why I choose my 8 different platforms when I store my Cryptocurrencies.

[el_caxper 25]

In recent weeks, news has come out of some exhanges where there have been hacks, so I think that exhanges are not safe at all, so I recommend that they not be used as the main wallet

[adrift1995 38]

if you talking about yobit exchange . then their is no danger of leavbing your money on that exchange . becuse they have highly protection to their site . and they also didnt charge any amount for hold your balance to their site .

[Maloy228 6]

Я не думаю, что это опасно, я считаю, что нужно либо выводить уже себе, либо продолжать торговать

[mehmetdalkiran0 83]

If you leave your cryptocurrency on an exchage, the private keys to your coins are with the exchange and your coins could be stolen in a hack. Of course, actively traded crypto will need to be kept on an exchange; however, any cryto holding that don't plan to trade shouldn'T be on an exchange.

[emhamed 62]

This is good information for me as a beginner. Thank you for sharing this matter with us and informing us ... We, as beginners, need such information

[Zouhair laasri 34]

Yes, recently, several platforms have become hacked and people simply lose their money, and this is something that raises the question, how can we protect the money in the platforms