Trading and security

[azguard]

I used 2FA security in trading exchange. I think its safe,but anything can happen in online.so my point of view I tell that for security 2FA is the best.

I also used 2FA security in the exchanger that I make a trading because it can helps us to secure our account in the site and prevent open it by others without our own permission. There are many hackers now who are trying to still our funds in trading site that's why the trading site also offers a 2FA security.

For online 2FA is the best possible option, especially for the exchanges, and on top of that you keep second part of password of pass phase on you phone, and this would be good if this option could be implement on this forum, believe that in this way we would see less hijacking and hacking account on this forum.

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[sebr1ng]

+1 to that - 2FA here would be great!

[traderethereum]

I used 2FA security in trading exchange. I think its safe,but anything can happen in online.so my point of view I tell that for security 2FA is the best.

I also used 2FA security in the exchanger that I make a trading because it can helps us to secure our account in the site and prevent open it by others without our own permission. There are many hackers now who are trying to still our funds in trading site that's why the trading site also offers a 2FA security.

For online 2FA is the best possible option, especially for the exchanges, and on top of that you keep second part of password of pass phase on you phone, and this would be good if this option could be implement on this forum, believe that in this way we would see less hijacking and hacking account on this forum.

activing 2fa is the best option we can do to securing our account although its not guarantee to give full protection but at least it could prevent from the attacker. and i believe that in website trading, they always giving advice for their member to activate into the highest level so the member can increase their level security.

[haroldtee]

Since you said your trading account has a sizable balance, you really will not want to leave them in an exchange wallet. You are at risk of you loosing all your funds if one day, something happens with the exchange itself. Even 2 Factor Authentication that you have enabled will not get your funds back. Try to google news about Mt. Gox and even recently btc-e and you will know what this is all about. Although, BTC-e users are lucky enough to at least recover some of their funds back so far.

[A.H.Rassel]

I know that trading site or exchange site are risky for holding coin/btc there.but if i activated 2FA into my account is it fully safe?I am already using 2FA into my all of account.But i don't aware about it that I am fully secure or not!! some one clear it please.

Trade site is unsafe for holding coins.If you enacted 2FA into your account is it shield you from individuals who are endeavoring to hack your account.My feeling when you're exchanging complete pull back coins promptly, or on the off chance that you need to be spent in Exchange 30% hold in Exchange it's a straightforward system to being protected

[Kevin77]

I have read dozens of threads saying you need to keep your BTC on a hardware wallet or paper. Anything online isn't safe they say. When trading that is not really feasible is it? I like to move in and out of positions several times a day and often at a moments notice. My trading account has a sizable balance (to me - 5 figures)  in it.

How risky is this and any additional things I could do?

I suggest you make 2FA security on each account that has a lot of BTC, minimize the crimes that occur in the online world, if it installed 2FA I think it is safe.

This is not just even about 2 factor authentication. The thing is about leaving all your funds in a trading wallet. You have no control at all over your funds and if what happened to Mt. Gox and co, happens, you are at risk of loosing your funds with no apologies.

The best way is to get a hardware storage or at least a desktop wallet like exodus that gives you the chance to be in control of your funds. Only leave what you are trading with in your exchange wallet and never use it as a main storage for your assets.

[tailwate07]

I have read dozens of threads saying you need to keep your BTC on a hardware wallet or paper. Anything online isn't safe they say. When trading that is not really feasible is it? I like to move in and out of positions several times a day and often at a moments notice. My trading account has a sizable balance (to me - 5 figures)  in it.

How risky is this and any additional things I could do?

Keeping all your funds in an exchange account is very risky. Anything can happen with security and anything can happen with the exchange itself. The best is to keep only the amount you trade with in the exchange and withdraw the rest at least when it is substantial enough for withdrawal.

[kidsuzudn]

I have read dozens of threads saying you need to keep your BTC on a hardware wallet or paper. Anything online isn't safe they say. When trading that is not really feasible is it? I like to move in and out of positions several times a day and often at a moments notice. My trading account has a sizable balance (to me - 5 figures)  in it.

How risky is this and any additional things I could do?

Keeping all your funds in an exchange account is very risky. Anything can happen with security and anything can happen with the exchange itself. The best is to keep only the amount you trade with in the exchange and withdraw the rest at least when it is substantial enough for withdrawal.

Yes , like the situation of btc-e.com , those traders keep all their btc-e in that exchangers is nearly lost everything. Luckily , Btc-e is back but they only give back 55% percent of the balance , so choose the right exchanger is the key , cause you're not , you probaly can lose everything, LR and btc-e are examples.

[micher143]

Activating 2fa would really add up security on your account but keeping it on exchanges would really be risky specially op mentioned that its 5 figures then i cant really afford to put it along on exchanges. Hardware wallets is somehow hassle when it comes on having an active transactions if you do really love to have secured wallet then try electrum.Its online but atleast you do have the keys and i would say the security is also good as long you do know how to keep private informations on the wallet.

I usually used 2 or more wallets for me to secure my holding in my tradings. And it could be better if you will choose the right wallet for you depending on the function of your holding,  it could be on investments or long term, or even in direct transactions. I also agree that it could be best if you will consider using hardware wallet so you could secure all your investments in every transactions.

[ss890]

+1 to that - 2FA here would be great!

That's too much security really. We don't really store bitcoin or anything important on the forum. It's knowledge hub and there is no wallet or exchanger kind of thing here where your account can get hacked and you might loose money. For the purpose of exchanger and wallets it's necessary to have it because there is load of money. I would rather choose to save everything on the wallet with private keys. That's the best option and added security to my account.