Bitcoin Forum

Real newbie question here. Sorry but here goes.

Do folks use different passwords for each exchange they use?

Yes it's a must and that is one of the basic precautions in the online world not just in crypto exchanges but in various websites like email providers, social media accounts, forum accounts etc. There are still people that doesn't have a practice like that so it will just depend on how well they can secure their credentials in their own way.

But if you really care for your accounts online, then it's not a hassle thing to do just to minimize the risks of being compromised.

Obviously yes.
If you find it hard to remember all of your passwords, I'd suggest you to keep an offline phone or any device and install the lastpass application. You can download it from here : lastpass.com (http://lastpass.com), it'd better for you to buy the paid one. Also remember that you need to always keep your 2FA enabled.

It's your own choice. Either you go with unique passwords or not, both have pros and cons.

Unique password for each exchange
Pros: You'll limit the possibility of being hacked in all your exchange accounts.
Cons: You need to memorize all password or take a note of it (in which you need to protect too).

The same all password
Pros: Simple, you only need to memorize one of it.
Cons: Hackers would have access in all of your accounts.

IMO, it's both okay. You just need to activate 2fa's, that's it.

It should be. If I can remember there is someone that managed to hack his registrants but his website isn't related to cryptocurrency ( I can't remember that person and his website.)

But after using the passwords and usernames of those people (of course he holds the database), it gained access to some wallets that lead him to hack and surprisingly he caught a lot.

This can be few from the situation why we should use different passwords from different exchanges.

Use different passwords for each exchange. Try to use 2fa using google athenticator if possible. Sometimes an idea to change passwords after a while.

I don't with the ones I don't give a shit about such a fork dumping ones.

The ones that are important I do the following things - the email associated with it has 2FA via authenticator. Also double check your email's backup options, such as another email address, and secure them as someone can get in that way with a password reset.

Different password for each exchange and 2FA via authenticator with them as well. I also keep the authenticator keys far offline.

It is a basic practice to use a different password for each site you  use, it's not only about crypto exchanges but everywhere

I use one big and random password generated by Keepass for each website that I use, and 2FA in those who support it. Everything stored in a Keepass database.

That's basic security. If you use the same password for every website you register, try searching for it on Have I Been Pwned (https://haveibeenpwned.com/Passwords) and you will see that there is a big change your password has been leaked by one of those websites. Which means that your password can be used in a big brute-forcing dictionary.

Do not know for sure if someone else uses a different password on every exchange, but if you want to make it more secure, then it is advisable to use different passwords in registering on every exchange, especially with your email.

Everyone said they are using different passwords for different exchanges but I am using a hard password for all the exchanges and ofcourse that is the password for everything I have using but at last I will change the numbers from one to one and special letters too.But it will not be a matter if you use different or single password just enable 2 factor authentication and other security option give by exchange.

Yes I do. I used a different password for different account but it doesn't mean your account is secure, to improve your security you might enable Two-factor authentication and it's really important. I saw many cases out there people account got hacked because they didn't enable this thing.
One more thing please don't store huge amount there once you got profit please cash out them as soon as possible, just a freindly advice.

I use a single master password(that I can remember it) and a mixture of two sites:
1. https://1password.com (https://1password.com)   2. https://strongpasswordgenerator.com/ (https://strongpasswordgenerator.com/)
using strongpasswordgenerator.com (http://strongpasswordgenerator.com) to generate a password for all accounts.
the master password used to control 1password account and from that site, I can have a Unique and powerful password for all accounts.
There is no safe way to protect accounts using the password/2FA but until finding a more effective way, I think this solution is acceptable

Its a must and should really make as a habit on where you should make different passwords on different exchanges and even on your email log-ins.On this way you would really able to minimize the risk on getting hacked in row if someone did able to collect your logged-in informations and tend to hack.Using up same passwords into different sites would make the job more easier for them.Suggestiong above about password generators are also a good idea to used on.

That would be very Important, since there were a spreading news about some of the people recieves a log in attempts with their account in several exchanges but only fail during 2FA.
Its a very Important precautions, what if you get hacked while your away with the same password in several exchanges? That would be a very devastating huge loss.

I have to be honest, and say that I reuse some passwords for exchanges. But these days with all of the security concerns I've already changed a bunch, and more importantly enabled 2FA on sites that allow me to do so.

It doesn't hurt to use different passwords for each exchange that you use, it's much better from a security standpoint that if your encrypted passwords ever get leaked (even they're supposed to be all encrypted) on one site, other exchange logins of yours don't get affected.

Most important thing is to just not store more than what you can afford to lose on exchanges, it's just bad practice to store anything over a few hundred bucks on an exchange imo.

Most times, this is what I usually do. Though,  I don't combine two passwords from different websites to form a perfect password (because I feel that there is a possibility of it been used), but I use a very strong password that I personally generate and for some time now, it has been going fine for me.  I am a kind of person who sometimes forgets things, so I don't want to make the mistake of using a different password.

Im also admitting that i do make use of the same passwords too on any exchange accounts i do have because its easy to remember and theres no risk on forgetting it because ive been using this password ever since when i was still on gaming industry which all accounts do have similar passwords but now we are talking money on here which we shouldnt really have the same movement because once compromised all related or the same accounts will be at risk too.I have changed passwords and set 2fa to ensure maximum security.

It shouldn't really make much of a difference whether it concerns money now or not. The main thing is that with all your non money accounts, hackers can compile a complete or near complete profile of yourself.

Isn't that reason enough to use a different password for each account? With your profile they may even somehow gain access to sites they don't have your password for, which is quite worrying to be honest.

People should really think about their actions. Regardless of how innocent certain sites may be, always use a unique password, and preferably, a different email, at least a different email for each important site or service.

Well you do have a point on where even on non-money related sites or just simply social media accounts we should really be keen on making passwords or security to be harder which would make use 1 account= 1 email = 1 mobile phone =1 unique password for each account neither an exchange one or on other sites we are engage on but as part of human nature we will surely make priority on where we do know that have money. 8)

One can still get hacked even with  Two-factor authentication and different password,  it's most times inevitable. I usually use different passwords and  the 2FA thing, but the best protection one can give to their exchange is to never leave a huge amount of coins in any exchange. An account can be extremely secured but still get hacked. Hackers can do anything just to get what they never laboured for.

Thanks to all!!Great advice I will definatley use different passwords.