Is it safe to put the tokens on the exchange?

[nakamote]

Guys is it safe to just put the purchased tokens on the exchange? cause i dont have a wallet in my android app. is it possible that it will be stolen? and claimed to be hacked? Am i doing the right way? Please can anyone help me. Thanks in advance.

You will safe if you are going to use mew or myetherwallet.com ,because it is the most trusted and safest way to protect your ethereum and ethereum based tokens which is erc20 tokens,use metamask extension if you are going to buy those tokens from a dex or decentralized exchanges so that you wont need to put your private keys manually because you can be hacked,avoid those app and web wallet because these wallets has more risk of getting hacked.

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[Anita1873]

It is always better that you should keep your token in offline wallet like trazor, if you do not trading since the long time. You can any time transfer your tokens on exchange when you want to trade that tokens, but there you should be sure about security of that exchange. If exchange have  the two-factor authentication and google authentication then your tokens may be safe.

[NS-Soul]

Guys is it safe to just put the purchased tokens on the exchange? cause i dont have a wallet in my android app. is it possible that it will be stolen? and claimed to be hacked? Am i doing the right way? Please can anyone help me. Thanks in advance.

Yes and no, it is safe if the exchange will not be hacked or scam by its owners and the safety of your token on it depends on how you secure your accounts. As much as possible if you have a desktop download a wallet or atleast some site that you will have the private key.

[stein888]

Guys is it safe to just put the purchased tokens on the exchange? cause i dont have a wallet in my android app. is it possible that it will be stolen? and claimed to be hacked? Am i doing the right way? Please can anyone help me. Thanks in advance.

Yes it is safe, but you must download a wallet already or make a wallet in myetherwallet.com if you don't wan to download a wallet, but I think you eventually will because you can't withdraw your money without a wallet.

[sedahan13]

I also put tokens in decentralized exchange like Etherdelta and idex, and so far i dont get any problem, but i heard all exchange has issue about security and hacking so to be more  safe if you want to keep tokens for long term investment, like more than 1 years will be better put in personal wallet and you own the private key.

[Viarahine]

I think it's not entirely safe, because, for example, the Bittrex exchange recently eliminated a significant amount of coins. And what do you think, if you bought tokens and left them on the stock exchange and eliminated them, then where will your money be? - Nowhere. When your coins in online wallet, such as Myetherwallet, do not risk to be eliminated. You can also sell your tokens on other exchanges if they are stored on a cryptocurrency wallet.

[rudolfaxl]

This is a very dangerous way of storing any crypto. You must use your own wallet and keep coins there. I think that you understand that exchanges are often being hacked, so your coins can be stolen. The safest way is to store coins and tokens on the hardware wallet.

[romecheo]

As what we have knew, nothing on this planet is totally a safe place to keep our valuable thing specially on internet. Exchange are not meant to be a storage, it was place to buy, collect or trade your token/coin.

Why not download a wallet apps either on your phone or workstation, or consider buying some hardware wallet which is more safe.

[A.Koosay]

size of the exchange doesnt matter, look into the security system of their wallet. Also look at their kyc and aml procedures these are extremely important for any investor

[amitkumratra]

Tokens are not safe anywhere, if you don't have strong password and if you don't enabled the 2FA Google Authentication security feature.
According to me whenever you buy coin from exchange, then first see there security features like 2FA Authentication, Rating of the exchange and also peoples have trust on that exchange or not.
If you see these all features in exchange, then you can buy coin from that exchange otherwise you will search for another good exchange, who have these features.
Then definitely your coins will be safe on that exchange.

[tonylewisverdu]

you can keep them on the exchange but it's riskier. I've had miota on binance for 4 months because of the lack of a decent wallet, nem on poloniex for 6 months because the withdrawal fee is massive and it's only a small amount of nem. and traders keep amounts on exchanges all the time to trade.
but... If you are keeping all your crypto on the exchange you have no fallback. I would be nervous to leave everything i own on an exchange so I have a hardware wallet.

Go Green!

[metribitcoin]

Depend on the level security of exchange , if you use mayor exchange like Bittrex, Poloniex, Binance etc will be safe  because they has high security features. Make sure when log in from right link and use clean device. And one more thing use minimum.2 different exchange to avoid other risk because no one can guarantee that exchange does not have problem later.

[sinduarianto]

I think it's safe because I also keep a lot of tokens in the exchange because it is definitely guaranteed safe in exchange.

[carlisle1]

Guys is it safe to just put the purchased tokens on the exchange? cause i dont have a wallet in my android app. is it possible that it will be stolen? and claimed to be hacked? Am i doing the right way? Please can anyone help me. Thanks in advance.

It depends on what exchanges you're referring too,if that is reliable and legit so much better because if the coins is in exchange and time comes you wanted to enter a trading then youre funds is ready to be in transaction..this is what im doing though i have in my wallets but i have in exchanges too like when the dip happens i stopped trading ,waiting for recovery to start trading again

[BQ]

if you're stupid then yes, it's probably better to keep them at an exchange. if you're not stupid, it's better to keep them yourself.
if you hold your coins properly, noone can ever steal them.
exchanges however, can steal or lose them in some way.

I wrote a long text about it here: https://bitcointalk.org/index.php?topic=3147362.msg32538628#msg32538628

[GFE]

I hold 80% of coins in different wallets and 20% at several criptocurrency exchanges. I think that it is not good idea to keep all coins at criptocurrency exchanges. It is better to manage coins in more safe way

[ATSgrowth]

You have to specify which exchange you want to use to safe your tokens. You could trust Binance, because it is the biggest cryptoexchange on the world.

[KXC247]

In my opinion, you shouldn't store any of your altcoins on an exchange unless you want to trade the tokens in the short term. Holding your coins on an exchange has a lot of risks associated with it such as hacks, etc. Its better to hold your coins on a wallet that you control their private keys

Better safe than sorry.

[Webcelerator]

It is very often safe, the main thing is to protect yourself on this exchange and take precautions. I have some coins lying in investment portfolios on the stock exchanges.

[tonylewisverdu]

yep, it is safe but its prone to be hacked that the only problem with it..

D88