How safe is exchange?

[Moeda]

Hi,

Every exchange adding a new btc, eth, token address on the exchange website.
I think they need some private key to set the transaction on this websites.

So is this private key stored in a normal database?
And is this safe?

According to what I read at a glance about myetherwallet.com wallet that the website does not store our data in the form of private keys or addresses. My logic is that when a token in our wallet is attacked by a hacker, the website developer myetherwallet.com cann't return the token to its base address

[Pet240]

If you are considering storing your coin on exchange, then choose a good one. Every coin stored there has the control of the management. So use your wallet instead of exchange.

[strawberrypills]

It's as safe as it can be. Exchanges shouldn't be used for long term keeping on put the tokens you are going to trade. You'll only risk losing your coins to attacks. Have a hardware wallet if you're planning on holding your coins for a long period of time.

[conanmori]

There's no exchange that safe it's on the user how to make it more safer like adding 2FA and more ask question that you are the only one who knows the answer. Well some of exchanger don't put things like this option to make it safer. Well its your choice to make your account safer on exchanges.

[Morgan19]

Exchanges Depend On Which You Are Using

As For Me I Prefer Decentralized Exchange In Which I Have Control Over My Crypto Assets

[galahads]

Exchanges are not the safe place to keep your tokens and coins at. Exchanges can be hacked. Always place your cryptocurrencies in wallets.

[Kuchiyose]

Hi,

Every exchange adding a new btc, eth, token address on the exchange website.
I think they need some private key to set the transaction on this websites.

So is this private key stored in a normal database?
And is this safe?

According to what I read at a glance about myetherwallet.com wallet that the website does not store our data in the form of private keys or addresses. My logic is that when a token in our wallet is attacked by a hacker, the website developer myetherwallet.com cann't return the token to its base address

It's true, that if there is a hacker who takes your coin or money then he will not be held responsible for the matter and will not return the number of tokens you have. That's a statement that is valid.

[Hypnosis00]

Exchanges are not safe in terms of keeping your cryptocurrency at a very safe condition because the exchanges has a lot of money and it can triggered the interest of the professional hackers in the internet to penetrate or try to steal the money in the exchange. Exchange are the best for trading or making money but for preserving your funds, it is not safe.

[iconoclast]

You should never keep more coins than you are prepared to lose on an exchange. Not only are you vulnerable to having your coins stolen by hackers but you are also at risk of dishonest operators stealing your coins. You may even have your holding taxed by incompetent operators like OKex which recently took the profits from all the people who invested coins in derivative contracts to pay for the losses suffered from their inability to manage margin requirements. The only safe alternative is using a DEX where you still control the private keys.

[msbtrooper]

It all depends from which angle you are talking from. if you are reffering to storing your cryptocurrencies on exchange, i dont think that is a wise decision to take but if you are talking from the angle of trading, then there is no way you can do without an exchange platform because that is where you will meet traders who are willing to do business with you. All i can say is that you do diligent research so as to choose reliable and dependable exchange platform.

[dobenklik]

Hi,

Every exchange adding a new btc, eth, token address on the exchange website.
I think they need some private key to set the transaction on this websites.

So is this private key stored in a normal database?
And is this safe?

never save tokens in exchange, because exchange is easy to hack and different from wallet. because the wallet has a smaller risk of being hacked because of stronger security in the wallet.

[thecoldnhotx]

Hi,

Every exchange adding a new btc, eth, token address on the exchange website.
I think they need some private key to set the transaction on this websites.

So is this private key stored in a normal database?
And is this safe?

never save tokens in exchange, because exchange is easy to hack and different from wallet. because the wallet has a smaller risk of being hacked because of stronger security in the wallet.

I like to put a small amount of tokens on an exchange so I can trade it faster.

[archierabe100]

I dont think exchanges is safe to hold your tokens. And this is only good for daytrading or buying some tokens quickly. I hold my tokens in my cold wallet and i monitor their prices everyday so i will be quickly sell them if they rise up.

[maman567]

You can added google authicator for safety your exchange account, always use the right website when you are access adn log in to your account. Never removed or change your google authicator because make your account is easy to heck and take your balance.

[Lakshanl]

Bitfinex - While as yet charging expenses, this stage underpins many of as of now introduce monetary standards. Other than that, it is again one of the more confided in ones, despite the fact that their underlying money esteems complete tend to keep running on the lower side. They have anyway chosen to have some expertise in proficient exchanging so the insignificant record value must be more than 10.000 USD to begin exchanging.

Coinbase - it's difficult to discuss trade stages without specifying these folks, since they are the pioneers. Their charges are to some degree higher, yet they do offer both Wire and Credit trades, which can be helpful. It is restricted by nation and coins you can exchange here

These are the ones I for one trust and have had just positive encounters with. Try not to concentrate just on expenses, as in this unpredictable and test field the sky is the limit.

[Bitmore]

I generally try not to keep my coins and tokens on the exchanges. In my opinion, it is much safer to store in wallets. I keep coins on the stock exchange that I trade. The exchange does not give a one hundred percent guarantee of security and can be closed or it can be attacked by hackers.

[DumbLefty]

I trust exchanges. I think they spend a lot of their resources to ensure a high level of security.

[Temmy007]

There is nothing like safe exchange for me;  even decentralized exchanges get hacked; only leave coins you want to trade on exchange; any coins you plan to hold should go to your wallet.

[lajtman]

Exchanges can be really useful in some deals but I don't think that constant working woth them could bring a great profit. Trading is more promising here.

[Asukilp]

I have been utilizing the Bittrex trade since the very beginning, and I totally trust it, since for all the time I've been in it, I have never had any issues with losing my assets. Be that as it may, you should stick to the decide that it is better not to utilize the trade as a methods for long haul stockpiling.