salahcryptowin (OP)
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February 16, 2018, 11:54:40 AM |
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Trading Platforms: Are They Safe?  A number of trading platforms have technical failures, insufficient security protection, easy hacking, or weak systems that fail to meet their obligations to users. These failures make them an easy prey for hackers, especially for denial of service (DDoS) attacks. This type of hacking aims to temporarily drop the site, by overloading the site's servers with many orders in a limited time. More secure is to save all your assets from encrypted currencies in local or hardware, not to leave them on a trading platform that controls them. In the event of any piracy on this platform, your assets can not be harmed if you have a personal system. "A final order on the level of platform security, users should be sure that there is: binary authentication, and ensure that domain domain is stored in their bookmark, to avoid any impersonation attempts." |
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Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
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Red-Apple
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February 16, 2018, 12:08:10 PM |
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trading platforms are safe against hacks and other forms of attacks but that doesn't mean they are 100% safe. nothing is 100% safe even big companies with specialty in security get hacked. what is not safe regarding trading platforms is the owners themselves. they can scam you at any moment and run away! More secure is to save all your assets from encrypted currencies in local or hardware,
this has nothing to do with your title. a trading platform, as the name suggests is a platform for trading not for storing if someone is storing their coins there then they have not understood what is what in crypto world. |
--signature space for rent; sent PM--
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derigop
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February 16, 2018, 12:23:25 PM |
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They are safe from hackers and other forms of hacking style but it is not sure that you are very secured in the hackers. Yourself has the responsibility to not give your personal information to the other people.
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cryptokingmaker
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February 19, 2018, 02:04:38 PM |
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They are many rules for Trading platforms none of the platforms are safe to trade and store coins u need to keep 30 percent in 3 exchangers why becuase the rules and for technical difficulties we need to be aware of and be safegaured
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bitart
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February 19, 2018, 09:36:43 PM |
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As far as I know trading platforms (exchanges) are not safe at all... They let you trade but they won't give you a private key to your 'wallet' at their site. This means that they can do anything they want with your money/bitcoin/alts... As soon as the exchange shuts down (and never switch back) you won't have your coins and you can hardy do anything against it or to somehow get back your coins. Of course, if you want to trade, you have to use those services. In the future, the decentralized exchanges will solve this problem, if they will be able to handle the hardware wallets, like the EtherDelta exchange for eth based tokens, it's able to use the Ledger Nano S if you want to trade. Also, Atomic Swap will be a useful thing if it gets widespread, to exchange cryptos.
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realcrypto
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February 19, 2018, 09:40:59 PM |
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The trading platforms are just like our secular market which is always open to the public so make sure you withdraw your tokens immediately after trading.
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countryfree
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Your country may be your worst enemy
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February 19, 2018, 09:43:51 PM |
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Crossing the street is dangerous, you know. It may be lethal.
You may also fell down the stairs, or cut yourself and bleed to death while peeling an apple.
Nothing's 100% safe.
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I used to be a citizen and a taxpayer. Those days are long gone.
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Aveatrex
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February 19, 2018, 09:44:45 PM |
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Trading Platforms: Are They Safe? A number of trading platforms have technical failures, insufficient security protection, easy hacking, or weak systems that fail to meet their obligations to users. These failures make them an easy prey for hackers, especially for denial of service (DDoS) attacks. This type of hacking aims to temporarily drop the site, by overloading the site's servers with many orders in a limited time. More secure is to save all your assets from encrypted currencies in local or hardware, not to leave them on a trading platform that controls them. In the event of any piracy on this platform, your assets can not be harmed if you have a personal system. "A final order on the level of platform security, users should be sure that there is: binary authentication, and ensure that domain domain is stored in their bookmark, to avoid any impersonation attempts." Never keep your coins inside an exchange that's a general rule.You don't own the coins when you have them inside the exchange. And nowadays DDoS attacks are not that effective especially on popular exchanges because these latter use protections against it. What I actually fear from exchanges is the "KYC-Know your customer" and stuff like this,exchanges are centralised which makes them killing the concept of cryptocurrency |
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jjacob
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★Nitrogensports.eu★
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February 19, 2018, 09:50:03 PM |
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Trading Platforms: Are They Safe? A number of trading platforms have technical failures, insufficient security protection, easy hacking, or weak systems that fail to meet their obligations to users. These failures make them an easy prey for hackers, especially for denial of service (DDoS) attacks. This type of hacking aims to temporarily drop the site, by overloading the site's servers with many orders in a limited time. More secure is to save all your assets from encrypted currencies in local or hardware, not to leave them on a trading platform that controls them. In the event of any piracy on this platform, your assets can not be harmed if you have a personal system. "A final order on the level of platform security, users should be sure that there is: binary authentication, and ensure that domain domain is stored in their bookmark, to avoid any impersonation attempts." There is a chance that trading platforms (exchanges), no matter how strong their security practices are, get hacked. It is up to you to minimize this risk. You can store your coins in your wallet and move them to an exchange only when you need to make a trade. Of course, this gives rise to transaction costs and is not convenient. Another way is to use only decentralized exchanges. This minimizes the risk of a rogue exchange running away with your coins or getting hacked. |
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icohdcoin
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February 19, 2018, 09:51:10 PM |
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No trading platform will ever be 100% safe.
Apart from the risk of an exchange being hacked and funds stolen, there are various other risks too like an exchange being unresponsive when you are trying to close a position or getting funds stuck due to a bug or having restrictions placed on your account.
The best you can do is limit your exposure and have a safe way of controlling your own keys.
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1bonobo1
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February 19, 2018, 10:09:08 PM |
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Let's leave some time for serious crypto exchange sites.
When the hardware portfolios have evolved and will be well distributed the problem of the security of the exchange sites will be solved!
When the projects of an internet on blockchain will be finished the problem will disappear!
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max1616
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February 19, 2018, 10:12:25 PM |
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Primary exchanges they are trustworthy from hackers and other varieties of hacking kind but if you have long-term intent to keep your money after trading you can withdraw your own secure wallet.
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gantez
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February 19, 2018, 10:12:37 PM |
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Well, I would say they are safe just when you are on trade. Meaning you are not expected to leave huge amount of coin there because anything can happen with hacking. I really prefer personal wallet than keeping my coins wil
the an exchange when I'm not using it. I transfer back to my wallet because is safer with me.
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richardsNY
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February 19, 2018, 10:31:19 PM |
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There is a chance that trading platforms (exchanges), no matter how strong their security practices are, get hacked.
I think that it's safe to say that hacking no longer is the main point to worry about. I personally consider insider theft to be a much bigger problem than hacking will ever be. Don't forget that most of the exchanges nowadays aren't used to operate a multi million dollar business, and especially so with the fact that they nowadays have direct control over potentially billions in digital asset value. It's far too easy to pretend that an exchange platform has been hacked, while in reality it's the operator himself that's behind the theft. After that they just release debt tokens that the exchange will later buy back to settle its debt, and people are more or less happy and move on like nothing has happened -- that's the trend in the last years. |
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joan26
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February 19, 2018, 10:40:37 PM |
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Trading platforms, as long as they are legit, are probably fairly safe from hackers, but nothing is bulletproof. As far as risk of loss, it tends to be relatively "risky" as most trading is heavily traded by bots in volumes that small investors cant really compete with. If you add in leverage your losses can be truly spectacular.
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European Central Bank
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February 19, 2018, 10:45:28 PM |
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nope.
trading platforms have a long history of hacks in fact there's hardly one around right now that hasn't been hacked. bitfinex, bitstamp, bittrex, poloniex, coincheck. the list is long and it'll continue to grow.
and i wouldn't be inclined to believe places like coinbase who claim to be insured if they're hacked on their side. insurance companies are in the business of not paying. your side of course is never insured.
as ever the advice is to get in and out of exchanges as quickly as possible. anything else may end up hurting big time.
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lavishlife
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March 20, 2018, 12:31:05 PM |
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BITCONEEEEECT LOL
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nick_nick
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March 20, 2018, 12:39:10 PM |
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trading platforms are safe against hacks and other forms of attacks but that doesn't mean they are 100% safe. nothing is 100% safe even big companies with specialty in security get hacked. what is not safe regarding trading platforms is the owners themselves. they can scam you at any moment and run away! More secure is to save all your assets from encrypted currencies in local or hardware,
this has nothing to do with your title. a trading platform, as the name suggests is a platform for trading not for storing if someone is storing their coins there then they have not understood what is what in crypto world. You've said it all. I don't think somebody can easily hack any trading platform without any informant from within. The owners themselves sometimes connive to intentional fraud people by hacking. However, some platforms are have been tried and tested and at least we can give the benefit of doubt |
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Dreamr
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March 20, 2018, 01:30:56 PM |
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Yes, there are few safe cryptocurrency trading platforms such as Binance. The Binance had an incident recently where some hackers got access to the user accounts and started trading vigorously. The Binance administrators detect the fraudulent activity by hackers and freeze all the transactions and then later returned users their coins.
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VitKoyn
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March 20, 2018, 03:18:02 PM |
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Cryptocurrency trading platforms or crypto exchanges are safe to use but not safe enough to store your coins. We have seen a lot of exchange having issues with their system securities and some of them are getting hacked. This is why I don't leave or store any huge amount of cryptocurrency in my exchange account because I don't have the full control of it and when the exchange gets hacked they can just make an excuse that the problem is not their side and they will not be able to refund your coins. Inside job hacking is also alarming.
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