rajkr (OP)
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February 20, 2018, 02:30:44 AM |
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Is it safe to keep your all crypto currency at a single exchange (bitfinnix)?Or one should choose multiple exchanges.
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According to NIST and ECRYPT II, the cryptographic algorithms used in
Bitcoin are expected to be strong until at least 2030. (After that, it
will not be too difficult to transition to different algorithms.)
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Gabz999
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February 20, 2018, 02:38:23 AM |
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It is not suggested to keep or store your coins on any exchanges sir. They might shutdown their platform at any time and your coin is at risk. Its better to keep your coins or tokens on a wallet were you have the control for the private key.
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MinerHQ
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February 20, 2018, 03:14:37 AM |
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It is not suggested to keep or store your coins on any exchanges sir. They might shutdown their platform at any time and your coin is at risk. Its better to keep your coins or tokens on a wallet were you have the control for the private key.
Yes, this is very true. You shouldn't keep any coins on the exchange unless you want to sell quickly for short profit on the same day or next couple of days. But even for day trading purpose don't keep all your money in any single exchange to avoid sudden losses if exchange goes into some trouble. If you're buying coins for long-term gains then better move to desktop wallets and keep private keys or seeds safely so that you can access your coins in future to sell at higher price. |
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Lazada
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February 20, 2018, 04:36:17 AM |
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It is not suggested to keep or store your coins on any exchanges sir. They might shutdown their platform at any time and your coin is at risk. Its better to keep your coins or tokens on a wallet were you have the control for the private key.
Yes wallet offline has excellent security compared to most exchange. when we save the coin in exchange then we can not fully get the guarantee because the exchange is a third party service so everys moment we could lose the coin we have. Until now maybe only a few exchanges that have good quality that is like bittrex. But still only the offline wallet that can give us the best guarantee. |
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Andrey123
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February 20, 2018, 04:37:08 AM |
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The exchange can close at any time.
Either be hacked by hackers.
It is better to store on your hard disk and have several copies of backup data.
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L A R A
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February 20, 2018, 04:48:35 AM |
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Is it safe to keep your all crypto currency at a single exchange (bitfinnix)?Or one should choose multiple exchanges.
depending on how long you will hold your coins, if only for the short term does not matter you save it in the exchanger, but if for the long term this is very dangerous, because it could be exposed to the hack or close the sudden then your money will be lost, save your coin in the wallet that you hold its private key |
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ChickenDuck
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February 20, 2018, 05:10:29 AM |
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Diversity is the key. So it’s better to put your crypto in several exchanges. Is it safe to keep your all crypto currency at a single exchange (bitfinnix)?Or one should choose multiple exchanges.
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jrrsparkles
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Eloncoin.org - Mars, here we come!
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February 20, 2018, 05:27:16 AM |
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Is it safe to keep your all crypto currency at a single exchange (bitfinnix)?Or one should choose multiple exchanges.
It is never safe to store our crypto currencies in exchanges because you are not controlling the private keys and the crypto currencies are only safe if you keep them in a wallet with private key access,but still there is no wallet available which can store all the crypto currency at one place but we have multi coin wallet which supports most of the reputed coins for now. |
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dhiraj0977
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February 20, 2018, 05:28:11 AM |
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I know it is easy to handle all crypto on single site, but it is not recommend according to my view, even I prefer all in one exchange, but I made 5 or 6 exchanges for myself, knowing the fact if that particular site hacked or anything unwanted happened, I loose all my cryptos on one day. So, it is not better to make at least you desired multiple exchange and store all your valued crypto at different exchanges.
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DanielRR1997
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February 20, 2018, 05:35:09 AM |
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It's generally a good idea to store your Bitcoins in a wallet where you control the private keys, rather than on an exchange where they control the private keys and could go out of business or be lost. But different wallets offer different levels of protection. And different exchanges offer different levels of protection. Some wallets include peer-to-peer trading functionality today. And, in the future, some exchanges will offer decentralized trading so that you can trade directly from your wallet and private keys that you control.
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MV7
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February 20, 2018, 07:36:45 AM |
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The best thing to do is to store your coins on a hardware wallet, but if u haven't bought one yet, i would divide my coins up in different exchanges. Also, make sure to have 2fa enabled on every exchange, and write the private key down a piece of paper.
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apityeh71
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February 20, 2018, 08:45:14 AM |
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In my opinion that too risky because when any bad thing happen with that exchange your all money at risk. For better use minimum 2 different exchange to be more safe. My personal, I used 6 different exchange so i can left my money there without any afraid.
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bitcoinveda
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February 20, 2018, 09:48:43 AM |
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The exchange can close at any time.
Either be hacked by hackers.
It is better to store on your hard disk and have several copies of backup data.
Exactly, we need multiple exchanges in order to secure our investment because owners of the company should provide some hardware wallet with private in order to secure their coins in the wallets. We need more exchange in order to divert our money to different exchanges. |
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Usafstar
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February 20, 2018, 09:55:29 AM |
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I think the multiple exchange option is good like if we have a variety of exchanges then we will have different options like if we want to use a fast exchange or we can avail the important features of many exchanges So i prefer to use at least 2 exchanges for transactions and many other things as well. If we check the benefits of crypto currency then the exchange is important for us and i like the YoBit.Net exchange for transactions.
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DigDeepMining
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Atheios.org
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February 20, 2018, 10:12:47 AM |
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Just keep small amounts in multiple exchanges for trades etc as you dont want to store all your crypto in exchanges and risk the chance of losing it, then as said above buy a hardware wallet (ledger/trezor wallet) I personally own the ledger, its great and so easy to use but most of all I have control of my private keys  |
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VitKoyn
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February 20, 2018, 10:29:02 AM |
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Is it safe to keep your all crypto currency at a single exchange (bitfinnix)?Or one should choose multiple exchanges.
It depends on how active are you in trading, if you do day trading then it is okay if you will keep your cryptocurrency in a trusted exchange to avoid having too much transaction fees but never use an exchange to hold huge amount of coins for long term investment, it is better to have a hardware wallet or a paper wallet for that. I can't see the point of using multiple exchange to hold all your cryptocurrency, it will just increase the risk because you don't have a full control (private key) with those address that you use in exchanges, only use multiple exchanges if you are planning to do arbitrage trading. |
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carlisle1
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February 20, 2018, 11:11:27 AM |
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Is it safe to keep your all crypto currency at a single exchange (bitfinnix)?Or one should choose multiple exchanges.
never rely on single exchange,because no one can tell if they are trustworthy enough or will come closed in future,some exchanges had beed closed lately and this is what we aware because our funds was on them.and the things might happen to them has an affect to us.so better spread your funds in many exchanges for securitu |
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setifien19
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February 20, 2018, 11:14:08 AM |
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Is it safe to keep your all crypto currency at a single exchange (bitfinnix)?Or one should choose multiple exchanges.
Exchanges platforms are made not to store coins there, but only to trade on , so for your coins safety , it's recommended that you store them in wallets ( unless you want to trade / exchange 'em ) which are more secured and their basic goal is to lay in cryptocurrencies. |
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alyssa85
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CryptoTalk.Org - Get Paid for every Post!
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February 20, 2018, 11:18:52 AM |
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Is it safe to keep your all crypto currency at a single exchange (bitfinnix)?Or one should choose multiple exchanges.
It's definitely not safe to keep money on Bitfinex. They got hacked in 2016 and they forced all their users to eat some of the losses. They also claim that Tether (which they control) was hacked. I would steer clear. |
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