Is it safe to put the tokens on the exchange?

[george_hured]

Imagine the situation when you give your money to some uncle, whom you do not even know, but you know that he provides some services, but still you should understand that you are giving money from your wallet to someone else's purse, this is the most important thing that you must remember

[lunafreya]

If you search before you put your tokens it is safe I think. I don’t see any dangerous putting the tokens on the exchange. There are reliable exchanges and I can suggest you to use idex and binance. They are safe for me.

[Wallytred]

You have no other choice if you want to trade. Anyway you have to trust some exchange. One advice - if you afraid to loose money, never put all of them in one place. Diversify as much as possible.

[JACKSW4G]

Of course this is not safe, you can even freeze funds if you simply store them on the stock exchange and do not trade. I received such a letter from Poloniex once.

[ElizRu]

Certainly not safe. My opinion is that you need to be either ready to fail or very able to do it. It's all the same risks.

[Singwala]

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 may not be lost or hacked. Depending on whether your Trading wallet does not have enough protection like 2fa Google Securty Code. Or you may be victimized by phishing sites. The hackers will definitely know your password immediately and it might have been stolen.

[KurororLus]

it will be safe as long as the trading website is protected against hackers. But once a hacker gets in, worst case is you'll lose your tokens/coins.

or maybe you are thinking of avoiding transaction fees? well, my opinion is that, I dont risk it all for a small transaction fee.

[Lwtelencio]

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.

Store your token in MyEtherwallet to avoid your token stolen. MEW has good security and good flatform to make at engage for the best ICO project.

[Derelikt999]

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.

[Praesidium]

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.

If you're buying tokens in altcoins get a proper wallet first if you dont have one MyEtherWallet is the best free online wallet out there. After that you can transfer it the exchange site and still it is safe there. But becareful oh phishing sites so you wont lose your money.

[noriksiayol]

I was doing like that putting my tokens into exchange even I don't have any verified wallet, and it was done good without any bad things happen, and in the next following days I asked a favor to my close friend to used their verified wallet in order to transact my tokens by changing into real money and it was done also good and that is my very first time of earning income in cryptocurrency business.

[Dodoymabs]

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, everything can be happen so there's still a possibility but exchanges have some guarantee to their customers if something happens to their system. As long as you will be careful with your action then there's nothing to worry. Security of exchanges are now being more developed and definitely it will be hard to be hacked.

[NavI_027]

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.

Is it really hard to download a digital wallet on android phone? I don't think so. I'm not saying that exchanges are not trustworthy place to store your holdings, it's just like that it becomes more prone from being stolen such as when hackers attacked or the exchange suddenly freeze itself.

Try to use Coinomi for your tokens because it is good and supports different tokens (just search for its reviews  to make sure).

[JCLee]

Actually, if you store cryptos on exchange floors as large as Binance, OKEx is almost safe to trade for a short time. But if you choose to hold mainly on it will be very risky. So for most guarded reasons, I suggest you keep your wallet MEW or hardware wallet such as Ledge Nano S or Trezor to avoid hackers attack.

[coinluisa]

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 I think it safe to put your token to exchanges because all exchange now have secured platform became their 2fa. But their is possible that it will stolen because of hacking in their exchanges so I think you need to put your token in safe plaçe that you are the only one that know the private key. It's better to have your own wallet instead to put in exchange.

[BigBoy89]

I strongly believe, that exchanges are for trading, not for storing. Exchanges can be vulnerable and I would not recommend it for holding a token.

[Cryptocracyforall]

No. You should only have coins on an exchange if you re actively trading it or if it doesn't have a wallet yet.

[jozymens7]

It all depends on the trust you have for the exchange. some exchanges have cold wallets that will help store your coins in a safe place for you. These are the wallets the exchanges use to protect the exchanges tokens.

[eugenefonts]

It depends upon the situation, if you are on trading you have no choice but to put your coins into an exchanges bu5 if you plan it to hold for long term better put it on safe place like hard wallet. If you plan to just put it on an exchanger better choose the exchanger which is high reputation like BITTREX,POLONIEX,KUCOIN, and BINANCE. For safe wallet i suggest to use IM TOKEN, MEW , and any hardwallet which is capable to store your token.

[olsyd]

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 the exchange, I think in general is not safe especially huge sums. I read several times that some exchanges under various pretexts avoided returning funds to their owners