Bitcoin Forum

As many of you may already know, the list of Crypto Exchange hacks (https://bbod.io/post/the-ultimate-list-of-cryptocurrency-exchange-hacks) keeps growing and it's very important to maintain your funds safe.

Always remember this popular statement: not your keys, not your crypto.

Actually, without keys there's no crypto at all, so one of the first and most important things we should learn and remember is to keep our keys safe. You may write them on a paper and put it in a safe place only you know, or maybe create a document with all your keys... Although I wouldn't recommend this unless you store that file protected with a password and mainly open it offline.

Some people have backups offline in external devices. That could be another good choice.


Custody: a choice that matters.

Let's say you buy some crypto whether because you want to hold or trade them. So you register in an exchange of your trust, put your payment data and buy a bunch of crypto.

Now, here's the key part: what do you do next?

Do you hold your crypto in the exchange or do you transfer them to your private personal wallet?

In other discussions, a few days ago (https://www.uptrennd.com/post-detail/transparent-custody-why-is-it-important~MjA1NDE1), the importance of custody was addressed, and the article emphasized: watch out with holding your crypto in an exchange with centralised custody.


Why?

Simply because of the topic mentioned at the beginning of this article: exchanges can be hacked and you can lose all your funds. Thing is the majority of exchanges have a centralised custody system, meaning that you don't own your exchange's wallet private keys. And what happened if you don't own your keys...? Exactly.

To summarize, be sure you keep your funds safe. Whether it's on your private wallet, or trading in the new generation exchanges that have a transparent custody system (https://bbod.io/post/transparent-custody-solution-bbod), meaning that only you can access your funds and they will be safe in case there's a hack to the exchange.


Tell me: What's your strategy to secure your funds?



Resources
https://www.uptrennd.com/post-detail/why-security-in-crypto-matters~MjE5Nzk5

If people are just responsible and be careful on their private keys then losing funds is lesser and also using up centralized or custodial wallets should really be avoided.

Security does matter but people do still end up on using centralized platforms either they dont have any choice or just too dependent on it.Its just a matter of
risk management and awareness about particular risk.

It always happens to people who are used to regarding saving money in traditional way, like on banks, people keep trusting banks as if their money are 100% safe there. With that, once these people enters crypto, same thing they will do, they wil trust these centralized exchange even though there are lots of them already hacked.

And sure thing, security matters when it comes to finance.

I don't keep my funds on any exchange if I do so, it's very minimal and not that much of amount that I can't avail to lose. I have read somewhere this strategy of hiding your files and folders, although it's not that of a security but it's another way to simply add and keep your important files that contains your keys (if you are keeping it on a file format).

A backup is a must so don't depend mostly on your single file that keeps your PKs or the written format that you make. Always create a backup or duplicate or even more where you can keep it in a very safe storage that can't be find out by others.

blockchain is all about security and transparency but it looks like this exchanges were not focusing on it, they look like they are focusing on earning their funds.

My strategy is simple as much as possible. I newer keep my funds on an exchange, use only non-custodial wallets and write down a seed-phrase for storing it in a safe place (in a strongbox). I believe it's enough.

I use the same strategy which is using a different wallet specifically with a private key. If i'm going to use an exchange and trade a significant amount i'd split my balance in smaller pieces if safety is my first priority over profit.

All exchanges focus on making profits and there's not much they could improve on since most exchanges are centralized.

I don’t know why these discussions are renewed? Everyone knows that the primary purpose of crypto is to get rid of the need for a third party to protect the funds, if you want to deposit them on the platforms, then why not deal with banks?
Do you guarantee that the platforms will return your coins to you?

As for how to protect your coins, a quick search on Google will give you many options.

It is always the case of those who are used to saving money, such as companies, who hold trustworthy banks as though their money is 100% protected there. Therefore, once these people come into the crypt, they trust this central exchange, even if many of them are already compromised.

Some of them not focusing on it since they are aftering the profit they can get on token listing and we should avoid them up to get out from possible danger in future but there are some exchange which is still good like binance and although they got issue of been hacked before but still they manage to shoulder back the possible losses on their investors.

A huge percent of people in the cryptocurrency sector stores their crypto token on their exchange account which is why they easily lose their assest due to exchange attacks and the likes. If this exchanges out there secure their platfrom with high end security as well as a reservation for safu when an attack is launched to their exchange to help user recovery their stolen funds, people won't be bothered about saving their assets on exchange. But regardless of this, it is expected for everyone to always keep a huge amount of their holding in their blockchain wallets.

Having a document with your private keys or seed stored in plain text is a huge security risk. If you have such a file on an internet enabled device, then all your coins are at risk and you should transfer them to a new wallet immediately. The only time I would ever even consider storing private keys or seeds in an electronic document is under secure encryption on a permanently airgapped device.

This is actually probably the least of your worries when you use a centralized exchange. The most common thing we are seeing recently is more and more exchanges springing unannounced and ridiculous invasive KYC requirements on their customers, and holding their customers' coins hostage until they comply, so you are forced to either give up your privacy or forfeit your coins. Even if you do comply, in some cases the exchange still decides that's not good enough and you can't access your coins. Exchanges can decide that something you have done is "suspicious" (although they hardly ever explain what that "suspicious" activity was) and lock your account. There are also plenty of new exchanges which eventually just exit scam with all their customers' deposits. Exchanges can shut down, disappear, refuse service, become bankrupt or insolvent, or any number of other things which can jeopardize your coins.

Don't use centralized exchanges, trade peer-to-peer, keep control of your own coins at all times.

For your average crypto investor where they buy and just hold the crypto this thing would be easier for them since sending their crypto to their wallet after buying them is just a one time process. However if we are talking about traders especially the day traders they can't risk their capital lying around in there wallet because they will miss some opportunities there. So maybe the best option for then really is to trade in a reliable exchange where they can have piece of mind trading or at least go to those crypto insurace coverages that protect them against crypto hacks and thefts which I think will be the preferred option for them.

They also should make sure that they have their keys hidden and there's  backup so losing wont happen. In investing, people should be more careful as there's more scams nowadays.

I don't know why It should be a question. Security is needed obviously everywhere. It should really matter.

just read this
https://cryptoadventure.org/a-guide-on-why-security-is-important-in-driving-cryptocurrency-adoption/

When we talk about holding bitcoins yourself and holding bitcoins on exchanges, I want to say something about that.
First of all there are two types of people:
1. Who can take responsibility and take care of their bitcoins
2. Who can't take responsibility and blame others in case their bitcoins get lost (exchanges).
First type of people know that security matters and they value it while second type of people - no, they want security but don't value it and risk.

My strategy to secure bitcoins is that I create another secure (let's call it places) and all of these place contains my keys and etc. But it's not like ABC, they are still more secured and these are the things that only I know.

This shouldn't even be up for debate, security should be first thing in mind when it is a matter of funds. The best way to secure your funds is by putting them under your own control. This is why I tell people to avoid storing tokens on exchanges. Always use a non-custodial wallet to store your coins.

As we can see crypto is a digital money that can only transact with online transactions. As we notice “it’s a digital money” so that it is intangible and cannot be touch once we convert our physical money into digital money. Once our money is a virtual money we are not 100% responsible on it because the platform that we trusted has also and access onto your money. You cannot manipulate it at 100%. In choosing our trusted digital coin platform we need to review well their rights or is it legal platform because when we hurried to use those platform, we can’t fully checked their platforms if it is legit or just a scammer.

 there are legit platforms but some of them control your funds . what if they got hacked or anything bad happen to them one  day ? you wont know if they will still refund you  . this why its better to store funds that allows you have your private keys  .

 you can still print those keys or seeds and you can keep them physically   . security really does matter not just on crypto but also on anything that we do because we dont want to loose our money    . not unless if you are careless that you just want to donate your money to someone else  

If they get hack you will also at lose but if they refund their user well that's cool for the platform to offer but I guess there's only less platform doing this that's why we need to be careful on where we are putting our money since its always at risk especially if we are putting it on un safe platforms here.

COMMONSENSE!
This is the main thing for you to protect something which is valuable to you.If you do give out importance of it then
you would be that sensible enough to seek out ways on how to secure and continue to learn on whats the new way of
scamming or security vulnerabilities.Make yourself updated and do act on whats the best to secure your holding.
Just like on what youve been doing on keeping your wallet into your pocket.  8)

Not in crypto ,you have to get security in every aspect of life. Without security you can loose what you earned with hard work. In Cryptocurrencies you have to secure your fund because people has earned this Cryptocurrencies with lots of afford.some people invested their hard work money for life to make better. If they not secured this, they can loose their crypto by hackers.
So play smartly be safe.

Obviously it matters.
It matters everywhere from banking transactions to crypto money transfer. Bcoz one mistake or wrong detail could be result of losing your all wealth health n happiness. You will lose all your money, your girlfriend , your party holic friends😀😀🤣
So, it does matters.
So, better to protect and use it by 2factor google or other Authenticator , use good exchanges, private key 12-15 words written in blank paper and put it in a locker.
Thanks. 👍🏻👍🏻

I have 2 choices when storing assets on an exchange

1) First, if the crypto exchange stores the assets of the trader in a centralized storage, then the exchange must return the assets of the trader if one day the storage has hacked and stolen,
of course exchanges like this have a clear team and have certificates from neraga

2) secondly, a decentralized exchange, which stores assets in centralized storage, if the storage is hacked and stolen then the exchange will not return traders' assets, I will not store assets on an exchange like this

There is absolutely no guarantee of this happening. Some of the larger exchanges which have been hacked in the past have indeed used some of their profits to reimbursed the affected customers or to absorb the losses, but there is absolutely nothing to say they "must" do this, and there are countless examples of exchanges being hacked and either shutting down/going bankrupt, or simply saying "tough luck" to their users. This is also only a consideration in the exchange themselves are hacked. If your account is hacked and your wallets cleared out, no exchange in existence will refund your money.

If they call themselves decentralized, but they hold your coins in their wallets with complete control over your private keys, then they are lying. That is not decentralized.

There is no safe way to store your coins on an exchange. If you want your coins to be secure, you must withdraw them and hold them in your own wallet.

I thought there would be an exchange that would return the merchant's assets if the exchange wallet was hacked,

apparently I was wrong, they were 100% unable to return the assets of the trader because all trader assets were stored centrally and if this storage was successfully hacked then all assets would be lost,
Hi sir, may I ask? whether market profits are stored in different purses so that they can return a small amount of the assets of the trader


sir this advice and information is useful for newbie like me thank you so much

There are. For example, when Binance was hacked for 7,000 BTC, they used their profits over the coming months to refund all the affected users so no one lost any money. However, there have been plenty of exchanges which have been hacked (or claimed they were hacked and more likely exit scammed) and not refunded their users anything - MtGox losing 850,000 BTC is the most famous example, but there have been plenty of others such as Quadriga, Cryptopia, and BitGrail.

Depends on the exchange, and no two exchanges will have the exact same set up in terms of number or types of wallets or types of security. In general, most exchanges have one or more central hot wallets which customers deposit funds to, which consolidate all deposits together, and which pay out withdrawals. They will also have one or more cold wallets which will serve as longer term storage for the majority of their funds, and they will move funds between the hot and cold wallets as necessary.

I am very surprised to hear the Binance Market can be hacked, I think the binance market is the market number 1 largest of the top 10 best crypto markets in coinmarketcap to be completely safe from hackers. apparently that's not true

Sir, if like this, is it true that the best and most popular markets do not guarantee the security of traders' assets stored in the crypto market


oh like that, now I understand, and I don't have any more questions about this, thank you very much, sir

The hack I referred to above took place on May 7th last year for slightly more than 7,000 BTC. You can read more about it here: https://binance.zendesk.com/hc/en-us/articles/360028031711-Binance-Security-Breach-Update
They were also hacked on August 7th last year, this time not for coins, but for a bunch of their customers' KYC data and documents: https://www.binance.com/en/blog/371631019142385664/Update--Action-Response-ThirdParty-Vendor-KYC-Matter

There is no such thing as "completely safe" from hackers. Every exchange and every wallet has the potential to be hacked, but storing bitcoin on an exhange (regardless of how reputable you think it is) carries a significantly higher risk of losing your coins than storing them securely on your own wallet.

Everything is okey that i have to save my private keys so that i can save my wealth but one problem is that if i am a trader i must have to keep my coins into exchanges for batter rates but when exchanges hacked what can i do then? On the other hand if i save my coins only my wallet i can not gain batter profit because good rate never come to me in time that i can sell coins instant.

So basically i have to use third party exchange must and if it hack nothing to do. Here i must say exchanges must secure their exchanges wallet or web security system so that they may earn money as well as mine.

But the problem with these is in order to trade you need to deposit a big amount of Crypto in order to make profits and even if you have manage to make your money double or triple. There's a problem that you must withdraw immediately in case a big hack or something like Bitmex happens where they manipulate the volume and rekt every traders money.

The best way in my opinion is to dont keep your money in one place.

It would be wrong too if you make a lot of wallet in some exchanges and you use the same password and etc then you are being hacked at the end, finally your asset is lose.

I think this is depend on someone purpose, if they are a trader then they have to spend money that they afford to lose, be it losing his money because he doesn't have a good strategy or he loses money because being hacked.

And two if their intention to buy some coins for long term investment, just use cold wallet. It is the safest way AFAIK rather choosing an exchange who considered as reputable exchange, it will be useless. You'll never be comfortable for it, you'll always worried to your asset. But you choose cold wallet you just need yourself to keep it.

The best strategy to secure our coins does not keep the coins at the exchange for a long time because we don't know if they can online for a long time or not. It is better you keep your coins in a separate wallet, and you can use so many wallets available for each coin you have. But you can also you multi wallet which can keep many altcoins together at once, and that can help you to have so many wallets in one device. If you still want to keep your coins at the exchange, make sure you activate all of the protection that available on that exchange so at least, you can prevent from the hackers that trying to break your account.

I`m partially new on this topic, but I think that any funds that you intend to use virtually should be protected better than physical money. And if you send it somewhere, it should be your own responsibility. Maybe in future we will be able to create our own wallet systems lol.

You shouldn't be using the same passwords on any two sites or services, and certainly not on sites or services dealing with your money or personal information. Use a password manager such as KeePass to generate and store long and random unique passwords for each site. You should also be using 2FA with an open source authenticator app such as Authy or Aegis on all exchanges.

Most (all?) multi-coin wallets are closed source, and so should be avoided, but having said that, most altcoins are trash and should also be avoided. If you are intent on keeping a variety of useless coins, then at least invest in a hardware wallet to store them securely.

Not sure what you mean by this? It is not only possible but highly recommended to create your own wallet and store your coins yourself, rather than relying on third party to store them for you.

That's why we have our old adage here: "Not your keys, not your coins'. So if you deposited your coins to an exchanges then you relinquished everything to them as they have now the full control over it. Well sending is very easy, you just have to get the senders btc address, but what goes after sending it to the exchanges is very different.

Although exchanges truly do their best to up and tempo and their security against those criminals. But usually criminals are like two steps of the game. Billions and billions worth of coins have been hacked and i seems that we are very helpless against this criminals. So we should be very careful, educate ourselves first on how to protect our assets, like 2FA, good email practices etc.

You are right, of course, but there is only so much you can do to protect yourself if you hold your coins on an exchange or web wallet, and even the most careful and secure exchange or web wallet user is still exposed to exponentially greater risk than if they held their coins themselves. Using a unique email address with a long and random password, a different long and random password for the exchange, (both generated by an open source password manager), a secure 2FA method for both logging in and making any trades or withdrawals, ensuring your computer is absolutely free from malware, ensuring your internet connection is secure, etc., etc., will protect your individual account from being hacked. But there is absolutely nothing you can do to protect yourself from the exchange exit scamming, going bankrupt, shutting down, making a mistake with their security, compromising their own keys, losing access to their wallets, having their servers or wallets hacked, having malicious employees steal your funds, and the list goes on.

The only way to mitigate these risks is to not hold your coins on an exchange or web wallet at all.

i also do these things in order to keep my money safe, exchanges are still not safe in storing funds, its still up to us to protect our funds, we must be careful in every way cause our money is always at risk.

Right, holding coins is not really a good practice as we have heard horror stories of crypto investors leaving huge amount of money to the tune of five to six figures in an exchange and the next day, it was either hack or pull an exit scam. I wouldn't put myself on that position either.

Yes, you can play and trade on an exchange, but you can't really say that you are secured there, with so many ways to get your money lost as you have mentioned. Moved your funds right away to a wallet that you have control or better yet, a hardware wallet.

Without saying much, or prolonged this question, have you ever wondered why you need secure your funds in bank. I believe you don't just worked hard for it and at the end of every savings you have made an outsider will just wipe off everything. So definitely security in crypto-currency really matters alot.

Security is everything in crypto else even if you hold the world highest coon but would be worthless for you if somebody else takes it and you are left with nothing. This would explain people as to why we need security and why it should always be on top priority before using any exchanges or wallets while keeping our coins in online world.

Right, when everyone here was starting with their crypto journey, we all get excited and happy to have just a bitcoin wallet and few satoshis in it. However, when we mature and learn that wallet security is the only thing in crypto then we start to educate ourselves, protect our private key, make a back up copy, create a wallet in an air gap machine or thru off-line and then hardware wallets. As far as exchanges goes, never trusted them, there's no way that we are going to leave our money in which we don't know what's going to happen. So we must stay safe so that we can also stay long in the crypto sphere without any crypto lost to those hackers or exchanges negligence.

My strategy is as simple as possible:
1. Never keep coins on exchanges.
2. Use non-custodial wallets for storing small amounts of crypto and hardware wallets for big sums.
3. Keep the seed-phrase is a secure place
Because not your keys, not your coins 8)

Security is important not only in cryptocurrencies. I think any processes and transactions on the Internet should be confidential and secure.

Most of the people lose their fund because of their carelessness that's losing of private key and aside that most of the exchange are not care about  the security of the trader,just focusing on how to make profits.

As we can see crypto is a digital money that can only transact with online transactions. As we notice “it’s a digital money” so that it is intangible and cannot be touch once we convert our physical money into digital money. Once our money is a virtual money we are not 100% responsible on it because the platform that we trusted has also and access onto your money. You cannot manipulate it at 100%. In choosing our trusted digital coin platform we need to review well their rights or is it legal platform because when we hurried to use those platform, we can’t fully checked their platforms if it is legit or just a scammer.

Safety is the best security without any high tension with cryptographic design to transact and most important thing is a real private key which is your first base as command because we cannot guarantee to your journey mostly on unexpected scammers. I believe that this creative and suitable as traders.

    Neconic I agree, security is important everywhere. I think that keeping crypto-currencies in a hardware wallet is safer than
to have cash in a wallet. We can compare crypto-currencies and banks, who is more secure, who has faster and cheaper transactions,
who can provide easier access, and usability. Probably crypto-currencies, at least some of them are much better in all this than
banks can be.

This is a topic for kids, not even for kids, it's for babies. You explain why security is good to 2-3 years old babies, to not get hurt, and you teach them how to be safe all the time.
If you need to explain why security is matter to people, than ask yourself on what level they are and what else you will have to teach them and to prepare them for life.
I think this is a waste of time, but in the same time I respect people who have patience to work with low IQ people and teach them about life.

Without security most of tradings and deals that are happen in the digital world will be wiped by hackers. Despite military grade security to some exchanges, they still find there way to penetrate. Security is key to everything in life

Your not an old school but I find you a wise guy since we can't really fully trust those centralized wallets and exchanges since they are more prone to any attacks since hackers knows that if they could penetrate in the system they can get a big money from it, I admire you talk about that here since there are so many users who still trust those dangerous options and ignore the past incident of hacking issues.

I always suggest to my friend to always use a non-custodial wallet for good security matters.

For trader or for those who require it for some purpose or gambling those can have it online rest of them like long term you want to hold it etc should not be kept in any of the wallets or exchanges. In past we have seen how security breaches have occurred and better to remain safe by sorting it offline and also not sharing any details.

One way or another, one of the main problems that may arise before the massive introduction of cryptocurrency in a person's daily life is the security of each user's cryptocurrency funds. In addition, it is necessary to improve the education of people in the field of cryptocurrencies, so that they can not only use cryptocurrencies, but also have knowledge of security. In addition, in order not to worry too much about the safety of their keys when making a transaction, people will be able to use certain applications that can act as intermediaries between wallets and the resource on which they plan to transfer cryptocurrency funds. WalletTrust is an example.

Yes, it is very risky to trust virtual wallet more. It can be hack easily if we don't care about it. Security in crypto is very important as we store our crypto currency here. If we don't concern about security, we may lose our money easily.

This doesnt only concern in crypto but in all sectors or fields on where money and valuable things should really be kept away from other peoples hands.We do value money
and its just normal for us to take security measures to take care of our funds and there are various ways on able to do so but somewhat peoples carelessness and being to
numb is really the reason why scam and hacking event do take place.

Lets stick to crypto security.Of course you would surely need to secure on what you had invested or do earn.You cant just let other people do steal it from you knowing that
transactions are irreversible and once it had been stolen then theres no way on getting it back. Trusting third party wallets is a no go. Always stick on wallets which you do possess
they keys and also dont leave them on exchangers or platforms for too long.

Many doesn't really trust any like that even if how trusted they are and how many years the wallet exist since there are so many incident that some of them get hack and compromised for unfortunate events so maybe best to reach some good HD wallets as well if we can't afford to have it the best solution to withdraw always our funds to make it safe for unwanted attacks.

Always we can't do it. Some times, we have to store our money on wallet. Yes, it is really safe to withdraw as soon as possible but trust is also needed.

HD wallets are safe compared to the crypto exchange storage but you need to keep the 12 word master key in a secure place if you don't want to get hacked or else all your cryptos will be stolen from one place.And withdrawing from HD wallets everytime doesn't really make sense, it is better to move to hardware wallets if you don't trust them.

nice soft selling lol. but nevermind.

this is why security in crypto matters.

first five months of 2020, $1.4 billion has been stolen.
https://www.coindesk.com/crypto-criminals-have-already-stolen-1-4b-in-2020-says-ciphertrace

crypto exchanges hacks timeline.
https://www.ledger.com/academy/crypto/hacks-timeline

Considering that this amount is only official data, I am afraid to think how much was really. Certainly, thousands of people who have been stretched for smaller amounts probably have not reported it anywhere, being ashamed of their stupidity or greed, so the real number must be much higher ....

Most of that money fly away to Finland.

"For the third year in a row, Finnish exchanges ranked #1 in highest percentage of criminal BTC received , with 12.01% of all BTC funds received coming directly from criminal sources."
https://ciphertrace.com/spring-2020-cryptocurrency-anti-money-laundering-report

Well security in tech in general matters in every aspects. In crypto you have your money involved so there's no way you don't take necessary protections and feel like you are protected from everything! Non custodial wallets are way to go but that's not all either.

Our money in crypto space is floating around so security really matters unto this since there are so many skilled hackers that can able to broke out and steal our balances if our wallet provider have weak security features in their wallets.

So protection is a must to us here since there's a money involve in every action here.

In built protection like 2fa's and verification neither on mail or otp wont really be enough or shall we say 100% safe because most common errors do really target out on the user itself

which means we should really be sensible on keeping those valuable informations in to secure place that no one would able to see it on.Security does matter just like on what we've

been doing on keeping our money in banks.The difference here is that we've been storing it on online.It might hard to be bruteforced but once those info's will leak then expect for you to
lost money.

I don't know if what I did is completely right or it will take me to hell, so far I have never lost my main trading asset because I only chose an exchange that many people like like Binance, one day I tried trading on a new exchange ( BCNEX) because I thought that someday it would be big like Binance now, but unfortunately I lost what I just started, even if only slightly.

while for security I only use the authenticator, I think the exchange that I currently live in has thought about the security of my assets (customers) is much better than me, so I just entrust everything to them

Nowadays keeping funds in any exchange platform is at a very high risk,thats why I always prefer to store my crypto in my own wallet, rather than leaving it in an exchange, since most exchanges are been targeted by hackers, I think its best we store our crypto in our wallet,but even after all this warning about 85-90% of all crypto users normally store or leave their crypto on exchanges, that's why each time an exchange is been hacked you'll see alot of people crying, because they have lost all their assets due to the hack.

They will leave the money because they trust the exchange was where the money has been stored. Most commonly problem and how many times we stated this that we shouldn't leave our crypto on exchange wallet but if you are actively doing trading, leaving for a while is considerable but in a long term, I suggest you are in risk.

People should always understands this and I know this is always repeatedly says here that not your key, not your bitcoin. So dont be expect.

It's your responsibility to keep your crypto safe. If you're not using necessary precaution/protection like metacert and phishfort to prevent phishing it's your fault for being careless and just carelessly logging in your sensitive informations without checking if its the right site or to some form. In internet, we can't really trust anyone so if you've received some link you should not just carelessly open it or download it.

There are few people lazy about using those necessary details to keep their account secured and there are also others who doesn't know about the methods about how to secure their account properly so maybe if there's something like information drive about account security for sure we can see those hacking,phising or other bad attack minimize. And we shouldn't trust anyone or anything that can possibly lure us since for sure hackers are just there waiting for their potential victims so we should be informative on safety and security to avoid this.

I leave my crypto sometimes in exchange but just for a day or two specially when time that i still trade.
Though i am still doing this now to be ready if ever the Massive dropping happen again like last march or when the price Moves Huge again like last year.
In this cases My funds in exchange will automatically converted into what coins i wanna buy (but mostly it is for Bitcoin)

This is also one of the reason why we left our bitcoins on exchange, sometimes I do this personally but I make sure the exchange where I left my balance is a trusted for long years since I can't take a risk to try those new exchange coming since there are several events that they scam their users. So I choos to think that way since security really matters if we talk about our hard earned money.

As per your thread title/subject, security in everything matters, not just in crypto, for instance, you build a house and dont secure the environment, in the night, armed robbers may break in and rob you off your goods and belongings, and if you are unlucky, you might even loose your life in the process.
So what i Want to emphasize is that security should be one of the most important things to really consider when ever we do or build anything.

A thing about safes is that, it always comes with a key or some combinations that grants you access to what ever is locked away or kept safe and that which is worth keeping safe is sure to be valuable in this case, cryptos.
Fiats are kept in banks who in turn puts it's in a save for safe keeping, some individuals own their personal safe and needs combinations to access it as well which brings into concern, how to safely store cryptos which is also very valuable being a currency of the web and needs protecting from hackers and scammers that seem to plague the system.
The advent of crypto wallets makes you your own banker and the private key serves as the combination to ensure it's safety and access hence, the need for keeping it rather safely less, that which is stored be taken away. This is why, the advocation for keeping your private key private is a necessity.

Obviously security is matter in crypto. If we unaware of security in crypto then there is a big chance to lose our valuable assets. We should more conscious about security in crypto.

I had an opportunity to have a conversation with some individuals at a seminar I attended earlier this year before the whole coronavirus pandemic shutdown everything. The reason most cryptocurrencies investors still trust these exchanges over them holding their funds is the same reason banks are seeing high patronage from the average citizens. People don't trust themselves to oversee the affair of their finance.

They believed in entrusting the funds to management services providers to do it for them. Also the stress of investing in the industry especially when you're of the altcoin industry is just tiresome that if you're inform, you might be left behind in times of smart contract upgrade etc. But if these coins are on exchange, you can just feel relaxed to some extent although I'm not advocating for it.

Now when this coins are moved off exchanges, you'll still find out that centralized wallets are the next stop which isn't any different from where it was previously residing. It would be very hard to get everyone to buy into the idea of holding their coins as the exchange keep decieving them that their coins are safe and insurance funds keep bailing the exchanges out in times of hack.

Right because it's our lose if our money will be trusted to unreliable exchange or wallet so we should really make sure to go on fully protected platforms upon depositing to make sure that we are safe and to assure that our balance is safe for next day used.


This is the reason why I'm so careful and selective to the wallet I used to store my coins since I don't really want to get hacked so I always prefer the old reputable wallet providers since for sure they are safe wallets to use and less chances to get hacked.

I cant say that it would totally safe because you wouldnt know if exchangers would tend to have that inside job and just showing off that it was a hack.
Even if you do set up 2fa or something then its still useless if its being compromised from the platform itself.Security matter most because this is just
like protecting or keeping our own wallet in our pocket not to be stolen since we know that it is valuable.When it comes to security then nothing beats
up when you do store your coins in a hardware wallet but still it do have risk if you dont know how to keep it away from other people even if
keys arent exposed but hardware can neither be stolen or broken.

Yes and moreover in crypto space as everybody else knew that crypto present to solve security matters so yes it is more than just related but it is in crypto area.
You cannot judge based on several cases that crypto exchanges have been too often hacked.
You have to see to the otherside as well as positive things more often happened in cyber security world where transactions can be done conveniently without hassle, no trust issues in third party .
Simply nothing fully safe on this world. Nobody can guarantee  it.

My strategy is as simple as possible. I use non-custodial wallets only and never keep coins on exchanges for a long time.

Inside jobs attacks happen for so many supposed to be trusted before and I can't even tell on which of them is totally secured since any of them even a top tier can be compromised, Maybe the best security here is to cash out our funds on hardware wallet once we finish our day in tradings since if we will do it on web wallets then still we cannot assure our funds safety.

And security in crypto really matters since we are putting our money/asset on certain platforms and it will be a totally huge disaster for us if we get hack and compromised.

Majority of people do neglect out this simple thing just because they do just like to get rid of fees when it comes on anytime transfer from exchange wallet to other external wallet you do make use.Also we cant really deny
that there are really some Pro's when you do had some funds on an exchange where you can easily make out such decisions neither on buying opportunity since you can directly trade without the need of transferring funds from time to time specially if you are an active trade then you would really be most likely be concern off on the hassle on making transfer from time to time just because you do like to secure up things when you arent trading but to think that those fees arent really that high compared if the funds you had store on an exchange wallet would be all gone due to unexpected or any other similar event.Its up to our own choice
if we do risk it out since its our own possesion after all.

This is a very understandable and good point but shouldn't be so. I know saving some values over the web could be so overwhelming with insecurities looming all over as per cyber criminals but then, having your valuables such as documents, germs, diamonds, gold's and the rest of them for safety in a bank entitles you some card which links to a key to access the safe for which it's stored based on which ever purpose you do need to access it for.

That's just the exact way online wallets works. It's a correlation. Just that in this case, your always with the key and it's safety (private key) is entirely up to you. Having your coins stored in an exchange is often a bad idea as these exchanges are often hacked especially the just emerging once for which the hack could be an insider job or just the loosed security ends due to inexperienced from it's technicians. It's always best you oversee your banking and that's why we don't just have softwares alone to store our private keys but, hardware wallets are readily available for storing private keys.
Keeping your private keys private is a necessity and your way to your funds.

Obcourse security is important. Not just in crypto. But many hackers targeting crypto because of abundance of possible victims. Leaving your asset on exchanges is makes the risk higher. And when you store your assets on your wallet just be careful with your keys. I experienced it myself. When I'm just starting way back in 2016, I click a site of myetherwallet (a phishing site and dont know it that time).  I loss $2500 at that time.

Crypro is a like a business, in order to attract investors you must do all the thungs to their investment safe from thieves /hackers, thats why  strong security is the most needed by exchanges.

security in the crypto world is like a key, don't let the keys be found by others, everything can be taken, so it is very necessary to keep the security code so that it is not taken by other people.

Security is the most important thing on crypto,  cause it matters a lot.  If the crypto wallet is secured, everyone love it and will use it to store thier assets,  if a exchange is strongly secured, they would love to trade on that exchange. Thats why security should be the priority of mobile wallets and exchanges to have great amount of users.

Well, I do have to keep some of my coin on an exchange (Kraken) due to my little business model. But other than the coin I move around on a day to day basis, I store my coin on an offline wallet.
I just have and old smartphone with a wallet installed on it with the battery removed. And I only ever go online with it via a secure and encrypted VPN (ProtonVPN).

but what happens now is that many keys have been stolen, as is the case in exchanges now,
if you are an exchange user then you must pay attention to the security of your account,
such as 2FA, or the password should not be spread.

everyone wants to be responsible but hackers and scammers are good at it so chances are they become a victim than a secured person
things that i believe serving as lesson for them to find which is good and what is bad.
Because bad element will always come to find ways taking our funds so that's why security are very important specially in this
investment that transaction mostly happens on line.
so the chance of being targeted is always in our doors.

Everybody knows that security really matters when it come to cryptocurrencies.
You just have to make your private key safe to avoid lost of funds to schammers!!! So when it comes to cryptocurrencies u just have to make your private keys are safe!!!

Right and store it to the place where the intruders or anyone strangers who want to take your keys to steal your balances. And we need to know the things we need to avoid and other proper way to safe keep our balances since sometimes the one we think safe is the most dangerous thing we do since anyone can penetrate us especially in open platforms.

Here are the things we must read to protect our private key and be safe from any harm https://www.coolwallet.io/10-best-tips-to-protect-your-bitcoin-wallet-private-key-or-recovery-seed/

You gotta be careful because someone might ask you for money and take it and its gone  ;D

I don't think so, people are fully aware that bank accounts can be compromised nowadays, even your master card numbers must not be revealed or your funds will vanish from your bank account, today people steal people's funds through their bank account, the risk is well known, crypto wallet is just like bank accounts too, you have to keep your bank details and passwords or pin hidden and private to yourself only, that's exactly how crypto wallet should be treated

Since it uses encryption to validate transactions, Cryptocurrency received its name. This implies that advanced coding is involved in the storage and transmission between wallets and public ledgers of cryptocurrency data. The object of encryption is to provide safety and protection.

blockchain is about security and straightforwardness yet it would seem that these trades were not zeroing in on it, they appear as though they are zeroing in on procuring their assets.

Everyone try to safe their money and cryptocurrency is related of your own money.No one try to lose their money on crypto, that's why everyone search secured and safety place.

Ofcourse the stronger the security is , the better for you! Its your responsibility to take care of your own assets.

I'm of the opinion that the first thing you do when you open a new wallet is to find out if the platform is secure. A stronger security will definitely put your mind at rest against any theft for your coins in the nearest future. Security matters a lot, just has every account details has its own way of securing it. I do not see why crypto own should be any different. In fact, the crypto security access should be very hard and strict. You know why, bcause it's all done over the internet. There are lot of hacks going on u and down. And one other thing that can secure your wallet too is never try to expose what you have in your wallet to anyone. It will be very hard for anybody to want to hack into what they don't know what's inside. By making sure your wallet address is secure too, it could also help in securing your account.

Exchanges are prone to hacking so its a must that they have a high security features to protect their exchange and the users.

Crypto became popular to many people now and the users are increasing as well, it also means those hackers who want to take advantage the weakness of newbies are active again to have a victim.

So be careful on where to entrust your crypto, if you're not going to trade it then dont let it sleep in exchange, use a wallet that you're the one holding your private keys.

Cryptocurrency got its name because it uses encryption to verify transactions. This means advanced coding is involved in storing and transmitting cryptocurrency data between wallets and to public ledgers. The aim of the encryption is to provide security and safety. While the blockchains used to record cryptocurrency transactions offer real security advantages, many believe these transactions to be more anonymous than they actually are. Furthermore, cryptocurrency exchanges have proven vulnerable to hackers, meaning that crypto does not offer security guarantees.

Its just not about the security tho as you may know this market can easily be hacked specially centralized cryptocurrency exchanges even the big ones wasnt able to avoid such hack like Binance, what we need is that it has security + assurance of getting our assets back

No one can guarantee security in crypto because there are so many hackers can easily take everything by hacking the exchange site and it is very difficult to get back the lost resources. Therefore, you have to be careful about your own safety your site's personal information cannot be shared with anyone crypto is traded in a decentralized manner but binance is a good place to keep cryptocurrencies safe for exchange. Because the binance rules are so hard, hackers don't get the information very easily.

Cryptocurrency Market Size, Share and COVID-19 Impact Industry Analysis, By Component (Hardware, Software), By Type (Bitcoin, Ether, Litecoin, Ripple, Ether Classic, Others), By End-use (Trading, E-commerce and Retail, Peer-to-Peer Payment, and Remittance), and Regional Forecast, 2020 – 2027

For more Information Visit: https://www.fortunebusinessinsights.com/industry-reports/cryptocurrency-market-100149 (https://www.fortunebusinessinsights.com/industry-reports/cryptocurrency-market-100149)

Security in crypto is very important, and it should be a top security to ensure it is secured probably. This is the first thing but always do whenever I open a new wallet, I always make sure I save my private keys in a secure place. Offline is the best way to save your keys, cause if you do save it online, your data might be exposed and that could leads to the lost of your precious assets. The fact that the crypto is a digital currency, it should be monitored with topmost security. Even more than the so called the bank security system. The ony different when it come to crypto is that, it is not control by anybody

Cryto is valuable and this is just indeed on storing off your money in a bank but this one is on different manner yet we are our own banks which means
security would really start from us on how we do handle it out and how strict we are trying to do those safety measure for our coins to be on the safe side.
Hacking and scamming is pretty common and offline storage is one of the ideal or best way on keeping your coins safe but doesnt mean it will
not really be affected by external events so you should really be watchful into those keys.

It actually would be wise to just put your funds on a wallet or ledger which ofcourse is also a safe one. I do prefer trezor and exodus, I usually put my assets there specially my bitcoins when I am not trading it. Its much safer to do that way ifyou arent really into trading but still, choose the right exchange