Bitcoin Forum

Poloniex is really cool but why they cannot provide access to our private key ?

My fear is if they have issues like Crypsty few months ago... How can we be sure that others exchanges are really safe ?

Thanks.

because you will have access to the coins sent to your exchange deposit address. so for example, you deposited 1btc to your poloniex account, 1btc will be credited to you and the 1btc on your deposit address can be accessed by you and use it to send to another address. basically it is stealing

What?.... Cryptsy closed down in January 2016, what are you talking about?

Yeah I was out for some times from cryptocurrencies ... :)

Yes and no. They can perform checks before investing money in exchanges or loans I think. So if the money was spent, they can disable the transfer.

Private keys are private, only one entity is supposed to have them. You don't really have wallets in an exchange anyway, only a virtual wallet, so there is no private key.

Thanks. I lock the topic.