Is it safe to put the tokens on the exchange?

[inillo]

The exchanges are never safe. SOmetimes is not even a hack, but their owners the ones that close the business and say "it has been hacked". That´s the problem in crypto, nothing is safe.

[TwSeventh]

there are no safe place for cryptocurrency either your own place or other place,
2 possibilities that can happen if you are storing it on exchange;
if you are storing your money on exchange,you will be targeted either by their staff or hackers.
for example what poloniex did to some people(targeted by staff or exchange itself),
they're blocking their users account without a proper explanation,and until now nothing changes.

[Baofeng]

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.

Well we all know that hackers are really targeting trading platforms so for me its not safe especially if you hold huge amount of tokens in an exchange. What I do is just let it sit on my MEW wallet, and then when its time for me to dump it I will just deposit it. At least you have control of your private keys if you just let it sit on your MEW, meaning you have total control of it.

[Nivelir]

No! and once again no! It is very risky to keep funds on the stock exchange purse, because at any moment the exchange can close and you can do nothing more with money, with your money, which has already become not yours.

[shirackjs]

No, exchanges are not the place to store your coins/tokens other than for trading purposes. You should get your own wallets. If you want something easy and secure, buy a hardware wallet for less than $100.

[shana95]

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.

In my opinion, It's not safe very much. Not anywhere totally safe. But Exchanges have a big probability to get hacked than wallets. Some centralized exchanges hold our account private keys in their servers. If somehow it got hacked, you will lose your funds. So I think the best option is the hold your coins in a wallet and send them into exchanges when you need.

[bosede1]

I don't think is going to cost you much by getting yourself a wallet, get Myetherwallet and be careful because having wallet those not give one hundred percent guarantee that one will not be hacked, be very cautious of everything you do either with the exchange or you get a wallet.

[YoungMaster]

If you don't want to use that token for trading, then you'd better go install a wallet app quickly because storing your tokens in an exchange isn't always safe as you expected.

[marmeladko]

Yes, but you should choose one of the top exchange platforms like Binance, OKEx, etc. And remember that it is better to put your tokens in 2-3 separated accounts instead of one.

[johnyespapa]

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 should get a mew wallet,it is the most trusted wallet by the community if we are talking about the erc20 based tokens which are commonly used with these ICO tokens,it is going to be safe for you if you arent going to purchase tokens using those android app because these wallets are more vulnerable with these hackers because it is being targeted most of the time.

[matsusomoto]

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.

Theres a higher chance of getting hacked with these app or android wallets because these wallets are more prone from hackers plus these wallets are mostly open source that is why we should stick with the mew or myetherwallet.com wallet because it is the safest way to store your ethereum and erc20 tokens,do not trust any wallet other than mew and a hardwallet you can use both to be more secured!

[cryptomorphines]

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.

Use myetherwallet.com wallet so that your tokens will be safe,use metamask extension everytime you are going to use dex or decentralized exchanges so that you wont need to put your private keys manually,do not use app or web wallets because they are very prone to hackers and your computer could be affected by some malware or viruses so you should get some hardwallet to be safe!

[BaeNaNa]

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 is not entirely safe as there's news about exchanges got hacked and got their fund stolen, althought it's not common but there's always the possibility of it's happening. Some dodgy exchange also like to block your account for whatever reason. If you want to put your tokens at exchange, i suggest putting it on big exchange like binance and use the 2fa auth to protect your account. It's better if you can afford hardware wallet so you don't have to worry about the security anymore.

[cryptodrei]

Not going to be safe if you are going to put your private keys in decentralized exchanges,if you are planning to use dex like fork and etherdelta you just need to get some mew wallet + install the metamask extension so your private keys wont be asked by these exchanges because you will lose a lot of money when you didnt use metamask extension.

[Crasengover]

For me it doesn't really matter where I store my coins. I use wallet if I wan't to HODL, but in most cases I prefer to trade so I deposit them on exchanges and hope that they are safe enough there, as I usually use only Binance and Kucoin.

[mangkanor]

Nope it isnt safe for us to buy tokens using these app wallets, we should be using myetherwallet.com because it is the most trusted and safest wallet for these erc20 based tokens,shouldnt be using these web and app wallets because they are more prone from these hacking,never trust anyone with your private keys and use metamask as always.

[kingzpro]

It is best to store on your personal wallet that you own and have the private keys, if you want to trade then you can move your tokens to the exchange and if you are a day trader you will have to take the risk of using and storing on exchanges.

[cosmicart]

It depends on the exchange, if it is a trusted exchange, then its fine.
although some say it's risky, reason being that exchange might close or something

[kolyrahman23]

IF IT IS A MATTER OF BIG MONEY, YOU SHOULD NOT KEEP YOUR TOKEN IN EXCHANGE WALLET. EXCHAGES LIKE BINANCE, OKEX, KUCOIN IS SAFE.

[beskid]

I keep some of my cryptocurrency on Bittrex for more than 1 year and there were no problems. However, the safest way to store it is in a personal purse. It's even better if this wallet is cold. I think that soon the most popular crypto currency exchanges will be decentralized,  for this reason you still have to get your own crypto currency into your personal wallet.