how is cryptocurrency safe?

[DomainTorrent]

Nothing is ever safe on this world and that includes cryptocurrency. There will always be loopholes where evil minded persons make use of them in order to benefit themselves. It's all the people behind shadows who are making cryptocurrency unsafe. So one has to be smart and cautious all the time in each step of the way as there are plenty out there who want to get/acquire what you have and possess by any means.

[jerry29@]

My best policy to not too store everything in one wallet.try to spread your coins on different wallets. Try not to open your account everyday unless until it is required. Use 2FA to your mobile and use high tech paid securities to yoir wallet.
Just these things are required.

[jerry29@]

Who says the cryPTO currencies are safe. They were never safe, no right now and also not in future .These are not meant to be safe. If they ARD safe than the richest people will become more richer and the poor will always in terms of investment. Just keep in mind tge cryptocurrency is the most dynamic thing which is the best part of it.

[seven2smoke1]

Why no one can track down the hackers who stole around $500million worth of NEM from japanese exchange. how do you keep your cryptocurrency?

You cannot compare cryptocurrencies with exchanges. Both have entirely different system of working. Cryptocurrencies can never be hacked, unless an idiot or a careless wallet owner let that happen due his own foolishness. Cryptocurrencies use blockchain technology. Every day new blocks are being added to the blockchain. So if anyone who wants to hack it, he will have to hack all the wallets on the blockchain network which is impossible to do.

That's absolutely right, we cannot compare cryptocurrencies and exchanges. As you said, cryptocurrencies can't be hacked, as it's not a thing that can be hacked, it uses the block chain technology, which it's impossible for anyone to hack it, but there are some people who are already hacked, because of their stupidity, they are not using carefully their wallets.

[kim diep]

Why no one can track down the hackers who stole around $500million worth of NEM from japanese exchange. how do you keep your cryptocurrency?

You cannot compare cryptocurrencies with exchanges. Both have entirely different system of working. Cryptocurrencies can never be hacked, unless an idiot or a careless wallet owner let that happen due his own foolishness. Cryptocurrencies use blockchain technology. Every day new blocks are being added to the blockchain. So if anyone who wants to hack it, he will have to hack all the wallets on the blockchain network which is impossible to do.

That's absolutely right, we cannot compare cryptocurrencies and exchanges. As you said, cryptocurrencies can't be hacked, as it's not a thing that can be hacked, it uses the block chain technology, which it's impossible for anyone to hack it, but there are some people who are already hacked, because of their stupidity, they are not using carefully their wallets.

it is my big concern as a newbie in the industry. please advice " is there any specific way to guide using the wallets safely?"

[Easteregg69]

Inside job is the word. Every single time.

[grendel25]

Choose any "how is cryptocurrency --fill in the blank--" and the world will answer with a million different answers.  But why?  In my opinion, it is because crypotcurrency is still relatively new and not fully adopted as being a normal part of commerce.  Sure, 8 years may sound like a long time to some.  But how long have credit cards been around?  How long have people been actually comfortable using them?  Sure, people feel safer today using them even though every year this is massive fraud.

The same can be said for cryptocurrency, cash, or any other fiat.  A big problem with cryptocurrency is people don't fully respect the security risks and do not adequately secure assets.  Mt Gox didn't teach people and neither did the XEM heist.  It will continue to happen but we should all be thankful that the recent crimes haven't been as devastating as the Mt Gox even though they have been bigger and more widespread.

[creativereza]

I think it's not fully safe, however, the protection it will have comes from large redundancy. The blockchain stores it’s “ledger” on many thousands of servers, and if, let’s say, one ledger will happen to become altered and say a group action ne'er happened, you continue to have 999,999 different ledgers that do say the group action materialized. I might suggest that if you get into commerce giant amounts of crypto-currency, you buy a “wallet”, that is essentially AN encrypted USB drive that you just will store your currency on. With this, your currency is abundant safer than being held on website servers, that area unit far more liable to attack.

[Akiyoshi]

Why no one can track down the hackers who stole around $500million worth of NEM from japanese exchange. how do you keep your cryptocurrency?

NEM is hacked because the company was not stored offline, they were breaking the rule which you have to keep offline to generate more coin. So I think for this matter we better to blame on the operator, the company

[a31078]

For one, be extra careful when investing in projects and companies through ICOs. Secondly, you can protect your digital assets by keeping them in cold storage such as  paper wallet, hardware wallet, data storage device inaccessible to anyone except you (e.g. USB, disk drive) etc. All of these options have their pros and cons, but keeping most of your assets in them is safer than keeping them in software wallets, hosted wallets, or wallets tied with accounts of online exchanges.

[Mister1k]

If the bankrupt has been done by the any bank you will loose all the money you have added in your savings account as well but bitcoin saved means that will be remain same in all the places buddy. It go down in sometime but that will not remain same for years of time but bitcoin will grow as the market volume of the bitcoin increases.

If you have banks it will not be controlled by you alone. So you will find the bitcoin keep safer in the desktop, hardware, vaults and paper wallets. This is only can be controlled by no one can touch your wallet unless you have shared or lost the private key and wallet.dat file.

[RedUnicorn]

Thats not the question you should be asking.. It is you that protects his investment and all depends mostly on you. Use 2FA pick passwords longer then 10 digits and dont leave all of your coins in unsafe exchanges and you should be fine

[sheeva28]

Crypto currencies are safe. As a example when we consider bitcoin, they use block chain technology. In block chain there is a interaction between wallet  to wallet and they make a chain. Day by day block achain is become larger. If anyone wants to hack block chain they have to hack all wallet in the world. There is no one could do it.

There is a phrase like that
"Impossible is nothing. It just takes time"
 
Take Your Own Precaution (TYOP) and leave it to time.
 why is it that hackers in japan cannot be trackdown what the used of their it system their?? so it means that some of their govt information are not safe at all or  maybe they their is what you called inside job ahahaha anyways all things are impossible especially for those aim is to make someone suffer inorder for them to live will, it is between the good and the evil they will make their own way to make someone's life miserable for now block chain technology is safe and we should hope and pray that they cannot find their way do destroy it..hackers are devilmade and experiencing a high technology now ohhh keeping my fingers crossed

[iconicavs]

Why no one can track down the hackers who stole around $500million worth of NEM from japanese exchange. how do you keep your cryptocurrency?

It should be you who knows how to keep your bitcoins and wallet safe. You must trust a trusted wallet and make surr your bitcoins are in safer place. Technology is widely used and available right now. Many intelligent people can hack if they wanted to. You just have to secure your coins with all your might.

[danniwide1234]

The safety of cryptocurrency depends on where and how it is stored. Keeping your cryptocurrency in centralized exchange and wallet where you do not have access to your private key is a recipe for hackers to easily have access. The owner of the cryptocurrency have a duty to ensure the safety of his cryptocurrency by ensuring he store or keep Is token or coin in wallet in which only him and him only have full access to the private key. He can do this by storing the cryptocurrency in cold wallet like ledger. He can also hold in decentralized exchanges or paper wallet. In summary the safety of cryptocurrency largely depends on the owner.

[amwer]

I'm going to keep an eye on it myself
Anyone talking like Bitcoin is unstoppable is not a trader...they are either a gambler or just a plain fool
I've hear people talking about anonymity with Bitcoin, but now here we have the exact opposite, should they comply
Education is the passport to the future! He who prepares today, owns tomorrow! But remember, Imagination is more important than knowledge. For knowledge is limited, whereas imagination embraces the entire world, stimulating progress, giving birth to evolution.

[chennan]

Think you are somewhat mistaken. The NEM balances are definitely being monitored and there are even some suggestions that they have already started making their moves, though seemingly to random addresses and not sold on exchanges, from sources such as these:
https://www.reuters.com/article/us-japan-cryptocurrency-cybercrime/exclusive-coincheck-hackers-trying-to-move-stolen-cryptocurrency-executive-idUSKBN1FJ28Y

Elliptic, which was engaged to track them down, is probably going to trigger the net and report AFTER these guys are caught.

This doesn't answer the question of it being a "safe currency" to accept for business transactions or to store wealth.  Reason being is that all of the coins that were associated with the crime can/are traced throughout the coins life and carries some taint to them.  Sure you can send your coins through mixers, but that is also pretty sketchy and you would have to trust the mixing sites, or the people you are mixing with in the first place... and that doesn't even guarantee you anything because you are probably mixing your coins with other tainted coins.

[chennan]

Why no one can track down the hackers who stole around $500million worth of NEM from japanese exchange. how do you keep your cryptocurrency?

You cannot compare cryptocurrencies with exchanges. Both have entirely different system of working. Cryptocurrencies can never be hacked, unless an idiot or a careless wallet owner let that happen due his own foolishness. Cryptocurrencies use blockchain technology. Every day new blocks are being added to the blockchain. So if anyone who wants to hack it, he will have to hack all the wallets on the blockchain network which is impossible to do.

This is true, you absolutely cannot trust a wallet you create Online on a centralized exchange service.  You can pretty much say with 100% accuracy that if you don't posses and know the private key(s)/mneumonic seed to your wallet, then you do not own the coins that are within that wallet.  When you open an account on an exchange, you might give them your info and create a user name and password, but all that doesn't matter on the blockchain... they know your private key to your wallet on there, so therefore they own your coins and you can't access them without the authority of the centralized party.

[Shenzou]

Why no one can track down the hackers who stole around $500million worth of NEM from japanese exchange. how do you keep your cryptocurrency?

Cryptocurrency is safe, and what makes it so is the ability for addresses to change after very transaction, and also you are able to store you balance offline on a hardware wallet to avoid the online ones, online wallets have a 2FA which sends you a verification SMS containing a password each time you or somone logs in from a different IP to your wallet, and if you are keeping your crypto offline than the only way a person could hack you is by sending a virus or a keyloger to your computer.

[Pavlo_Zolotoi]

Why no one can track down the hackers who stole around $500million worth of NEM from japanese exchange. how do you keep your cryptocurrency?

Cryptocurrency is safe, and what makes it so is the ability for addresses to change after very transaction, and also you are able to store you balance offline on a hardware wallet to avoid the online ones, online wallets have a 2FA which sends you a verification SMS containing a password each time you or somone logs in from a different IP to your wallet, and if you are keeping your crypto offline than the only way a person could hack you is by sending a virus or a keyloger to your computer.

It turns out, if a virus got to the computer and hackers hacked with it my account and brought tokens, then I can not do anything?
How then to secure yourself?