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daxiake
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May 05, 2018, 01:17:28 PM |
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Is it safe to keep your all crypto currency at a single exchange (bitfinnix)?Or one should choose multiple exchanges.
If you are opting for an exchange to keep your coins then its advisable to store them on multiple exchanges rather than keeping all coins at a single exchange. If you are looking to store them for a long-term then use a wallet, remember exchanges are a favorite place for hackers to steal your coins. |
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yojodojo21
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May 05, 2018, 01:23:00 PM |
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Exchange site is use to trade crypto (bitcoin and altcoins) not for storing it. If you have that many crypto then make more account in different exchange and trade it if you want to. If you want to keep your valuable coins and want to HODL it then I suggest you to buy hardware wallet such as trezor or ledger.
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Leonard2016
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May 05, 2018, 02:37:57 PM |
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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 are not wallet! just keep the money you want to trade with in any kind of exchange , finally none of them give you the private key , and if anything happens to any of them you can reach through you money in any other way! |
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Firefox07
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May 05, 2018, 03:30:24 PM |
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Is it safe to keep your all crypto currency at a single exchange (bitfinnix)?Or one should choose multiple exchanges.
For me its not wise if you use only one exchange. Its more wiser if we use different exchange. And the rate of every exchange are different or lower than the other. |
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tiggytomb
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Activity: 1848
Merit: 1000
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May 05, 2018, 03:33:19 PM |
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Is it safe to keep your all crypto currency at a single exchange (bitfinnix)?Or one should choose multiple exchanges.
If you need to keep your coins on an exchange I would suggest not keeping them all in one in case something happens to that exchange which does happen from time to time, the ideal thing to do is to purchase a ledger or trezor and keep your coins in there, alternatively if that is not an option try to spread them around to limit your potential loss. |
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LuvCyanide
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Activity: 252
Merit: 11
Decentralized Digital Billboards
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May 05, 2018, 08:01:02 PM |
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In my experience, I advise you to keep the currency on different exchanges. At least 2 or 3. Anything can happen and you can lose all your money.
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jack8989
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Activity: 331
Merit: 10
StartFi
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May 05, 2018, 08:52:07 PM |
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Is it safe to keep your all crypto currency at a single exchange (bitfinnix)?Or one should choose multiple exchanges.
If you need to keep your coins on an exchange I would suggest not keeping them all in one in case something happens to that exchange which does happen from time to time, the ideal thing to do is to purchase a ledger or trezor and keep your coins in there, alternatively if that is not an option try to spread them around to limit your potential loss. If you really want to keep your coins not for trading or for a HODL purpose i suggest you not to hold in any exchange at all because they could turn into scammers if there is bad thing happens to them. Like Bitgrail , scamming people who hold their coins in it, so the best solution for you is holding it by yourself with the local wallet. |
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Oasisman
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May 05, 2018, 08:58:15 PM |
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If you believe that the exchange you’re storing your cryptocurrencies is good, then there is no need to worry. But one thing for sure is that one shouldn’t store their wealth in one place, you should practice diversification, cause it would help you in a lot of ways.
I dont think youre worry free storing all your assets in a particular exchange, unless you know the biggest risk that it bears. Exchange is simply designed to do trading, and yes you can store any coins that is listed in that particular exchange, BUT it is very vulnerable to hackers and worst what if the exchange itself it being hacked and shutdown?. Its still different when you store it in any kind of wallet, for it is designed to last forever. |
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suzanne5223
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May 06, 2018, 03:56:05 PM |
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If you believe that the exchange you’re storing your cryptocurrencies is good, then there is no need to worry. But one thing for sure is that one shouldn’t store their wealth in one place, you should practice diversification, cause it would help you in a lot of ways.
I dont think youre worry free storing all your assets in a particular exchange, unless you know the biggest risk that it bears. Exchange is simply designed to do trading, and yes you can store any coins that is listed in that particular exchange, BUT it is very vulnerable to hackers and worst what if the exchange itself it being hacked and shutdown?. Its still different when you store it in any kind of wallet, for it is designed to last forever. Well, that's not a good advice. I mean storing of ones all cryptocurrency on an exchange site because there is no wallet that is ever safe not to talk of an exchange site which can get hack any time and almost 95% of all exchange site have been hacked before. Therefore, storing of cryptocurrency in different place is the better option. |
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loof99
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May 07, 2018, 10:13:26 AM |
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Of course No, Not all of cryptocurrency at in the single exchange because in this kind of business you can multiple to them as long as you are not exceeded to their limitations,
so that’s the reason why is no for me.
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Jombrangs
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May 31, 2018, 06:10:59 PM |
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I think not all of the cryptocurrency at the single stage of exchange because last time that I check theres a lot of competitors that they have in this kind of business that try to compete to the quality of their business to the original one to be compared.
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V. J. Meyer
Member
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Activity: 308
Merit: 10
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May 31, 2018, 10:17:47 PM |
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Is it safe to keep your all crypto currency at a single exchange (bitfinnix)?Or one should choose multiple exchanges.
If you need to keep your coins on an exchange I would suggest not keeping them all in one in case something happens to that exchange which does happen from time to time, the ideal thing to do is to purchase a ledger or trezor and keep your coins in there, alternatively if that is not an option try to spread them around to limit your potential loss. If you really want to keep your coins not for trading or for a HODL purpose i suggest you not to hold in any exchange at all because they could turn into scammers if there is bad thing happens to them. Like Bitgrail , scamming people who hold their coins in it, so the best solution for you is holding it by yourself with the local wallet. If you do not want to trade, keeping a coin on your wallet is best because giving money to someone else is certainly not secure, even though they have high security. Always be careful and have a proper investment in this market because anything can happen and preparation is essential. |
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coinluisa
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Activity: 626
Merit: 10
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May 31, 2018, 10:27:23 PM |
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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 if when your coin will be listed because some exchanges not listed a coin if they know that the coin is not worth it to be listed in their platform. And i think much better to use a multiple exchange than to focus in one. |
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virtualkeybuyer
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May 31, 2018, 11:09:57 PM |
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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 a big risk if you will keep all of your cryprocurrencies on a single exchange as if that exchange got hacked and no one repay you then you will lose all of your portfolio. It is better to keep your coins on different places if they are your long term investment then do not keep them on exchanges but keep them on your wallets. If you want to stay on exchanges then try to use different exchanges but stay alert that do not use low security exchanges. |
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Superzpay
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May 31, 2018, 11:26:10 PM |
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Is it safe to keep your all crypto currency at a single exchange (bitfinnix)?Or one should choose multiple exchanges.
No it is not safe but it is more dangerous than any other anger to your wealth. If someone will keep all of his coins on one exchange then he will be hostile to his coins. We saw in the past that many excahnges hacked and the hackers got success to escape with our money. Even big exchanges from high securities are hacked in the past. If someone will know about that then he will never keep his coins in one exchange. |
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Nhor1011
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Activity: 994
Merit: 11
Daxetoken.net
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May 31, 2018, 11:37:05 PM |
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Is it safe to keep your all crypto currency at a single exchange (bitfinnix)?Or one should choose multiple exchanges.
No, it is not safe to stay your coins in single exchange because anytime exchange may shutdown. It is not advisable to keep your coins there much better to keep your coins in a safe wallet which you hold the password and private key alone specially if you want to hold or invest your coins for a long term. |
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ApocalypseNow
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June 01, 2018, 01:58:29 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 not but if the case is we are talking about leaving it all in Binance then I would feel all my coins are there are very safe. And putting it in other exchanges does not make it safe, transferring it your harware wallet is much safer. |
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mabell943
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June 16, 2018, 06:46:48 AM |
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It is impossible or unbelievable to believe that all cryptocurrency is at a single exchange state or level in this industry
because we are all familiar that in business world there’s no assurance that you will have none competitors in this kind of business.
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Bitinity
Legendary
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Activity: 3220
Merit: 1316
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June 16, 2018, 07:19:54 AM |
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It depends on your purpose, if you are very active daily trader then it is OK to put all your portfolio in one exchange but if your main purpose is for long term holding then it would be better to store your coins in your own wallet. Just put your coins in exchange whenever you are going to trade it actively, withdraw it back to your wallet when you are done with the trade especially if you are going to stop trading for a while.
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MiXxe
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June 16, 2018, 07:34:21 AM |
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I dont think it;s a good idea. It's gonna be dangerous if you will place your cryptos there. Much better if you have your wallet to keep it say. You will not know when those will eventually shut down and may possible bring your coins down as well. Be careful where you place your coins because they are prone to scam.
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