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Author Topic: Best exchange to invest for the long terms,  (Read 196 times)
RAMSHIVDEEPAK
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May 11, 2018, 11:04:23 AM
 #1

Hi guys, please share your opinion on best exchange,which can I use for long-term investment. Recently, Coinsecure,a INDIAN exchange has been hacked.So I am very much afraid about my investment.I am using right now BINANCE exchange.Is it safe for keeping my investment for 1 year.

Which one do you suggest?

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May 11, 2018, 12:13:00 PM
 #2

Keepin your coin on the exchanges is a really bad behavior, it is not recommended. You should put your coin in your own wallet, instead of keeping it on the exchanges. The problem of storing coins on exchanges is we don't own the private keys of the coins, because of that we can safely say we don't really own the coin.
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May 11, 2018, 12:21:49 PM
 #3

Hi guys, please share your opinion on best exchange,which can I use for long-term investment. Recently, Coinsecure,a INDIAN exchange has been hacked.So I am very much afraid about my investment.I am using right now BINANCE exchange.Is it safe for keeping my investment for 1 year.

Which one do you suggest?
You are better of buying a ledger nano S if you are holding a lot of altcoins(worth 1000$ above). If not, I recommend you scatter your coins into well known exchanges today if you really want to hold your coins in an exchange(and if you hold many varieties of altcoins atm). If you are holding only a few altcoins, I recommend you follow vv181's suggestion.
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May 11, 2018, 12:50:28 PM
 #4

if you plan to keep your coins or investment funds in the long term you should not keep them in exchange and better keep them in your personal wallet, and it would be great if you use an offline wallet.

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May 11, 2018, 12:53:24 PM
 #5

Keepin your coin on the exchanges is a really bad behavior, it is not recommended. You should put your coin in your own wallet, instead of keeping it on the exchanges. The problem of storing coins on exchanges is we don't own the private keys of the coins, because of that we can safely say we don't really own the coin.

totally agree with you especially since there have been a lot of incidents involving exchanges. What's worse is that you aren't insured at all.. So, better to keep your holdings in your wallet instead.
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May 11, 2018, 01:06:43 PM
 #6

I've seen many people keep their investment in known exchanges like Binance or KuCoin, etc. However, it is not recommended at all and won't recommend that, with few steps you can have your own wallet like (Myetherwallet) and if you're not sure how, I'd recommend watching this video:

https://www.youtube.com/watch?v=ZSmAQvnEyq4
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May 11, 2018, 01:12:48 PM
 #7

I think we will all  agree on Binance and Bittrex . There is more trusted exchanges out there 2 but I think those come on top . You have Kucoin really good one too , But all the fun lately is located at Binance and Bittrex with Binance at top with decent gape from Bittrex .

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May 11, 2018, 01:16:19 PM
 #8

I think we will all  agree on Binance and Bittrex . There is more trusted exchanges out there 2 but I think those come on top . You have Kucoin really good one too , But all the fun lately is located at Binance and Bittrex with Binance at top with decent gape from Bittrex .

Bittrex and Binance are indeed trusted exchanges, but I would also add coinbase and kraken. Both are online since a long time and can be trusted. Till date I have had no real problems with either coinbase or kraken.

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May 11, 2018, 01:56:04 PM
 #9

Regardless how trustable and experienced exchanges out there (Kucoin, Binance and etc), you should use an exchange for its main purpose, which is trading. If you want to keep/store your money/coin/token for an investment, a hardware wallet or paper wallet is the one you should chooose. By this decision, you will erase the risk of hacked wallet, problem with exchange and so on.
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May 11, 2018, 03:06:08 PM
 #10

Hi guys, please share your opinion on best exchange,which can I use for long-term investment. Recently, Coinsecure,a INDIAN exchange has been hacked.So I am very much afraid about my investment.I am using right now BINANCE exchange.Is it safe for keeping my investment for 1 year.

Which one do you suggest?
Don't put your token in exchange or exchange as your wallet because theres possible that your funds will disappear. All of exchanger is best it depends to the token that you want to invest to long term.

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May 11, 2018, 03:56:08 PM
 #11

But how are you willing to invest in an exchange?
Quote
Best exchange to invest for the long terms,

1- If you mean investing in a crypto made an exchange then there is no best than binance which has a good rate as an exchange and a valorised coin used for interacting with the platform in low cost. (bnb)
2- If you mean looking for the best exchange to make trades or to purchase any tradebale token then it's better to use decentralized exchanges like etherdelta or waves platform where there is no need to do KYC verification and no orders limits.
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May 11, 2018, 04:02:32 PM
 #12

Hi guys, please share your opinion on best exchange,which can I use for long-term investment. Recently, Coinsecure,a INDIAN exchange has been hacked.So I am very much afraid about my investment.I am using right now BINANCE exchange.Is it safe for keeping my investment for 1 year.

Which one do you suggest?
If you want to best exchange it depends on your coin. So you must buy you convince exchanges then store your wallet. Because exchanging site is not safe in long term investment if you are beginner in trading platform you must gain some knowledge in block chain and Crypto platform then only you will understand the right way.

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May 11, 2018, 04:32:49 PM
 #13

Hi guys, please share your opinion on best exchange,which can I use for long-term investment. Recently, Coinsecure,a INDIAN exchange has been hacked.So I am very much afraid about my investment.I am using right now BINANCE exchange.Is it safe for keeping my investment for 1 year.

Which one do you suggest?

Are you nuts? Do you even know the risks involved on the things you're planning to do? Isn't that recent incident already enough to be an indicator that you shouldn't INVEST in exchanges? *ahem* Let me quote:

Quote
The obscure Italian coin exchange BitGrail  looks to be the latest cryptocurrency cautionary tale. On Friday, the site posted a notice to users informing them that hackers had made off with 17 million units of Nano (XRB), the coin formerly known as RaiBlocks.

While Nano was worth as little as 20 cents in late November, prices hovered around $10 late last week, putting the BitGrail losses at $170 million. Nano currently boasts a market capitalization of $1,287,013,24, the 24th largest of any cryptocurrency according to Coinmarketcap.
...
...

This is not yet a widely known crypto exchange and it is now experiencing an attack to a variation of attackers.  You haven't mentioned what coin are you specifically investing at, but like this coin that is still growing got stolen in million units by hackers. What's more worse is the devs didn't really guarantee to give you back your coin. As quoted in here:

Quote from: @bomberfrancy
NANO on BitGrail have been stolen.

Unfortunately there is no way to give it back to you at 100% (we only got 4 MLN XRN right now).

The devs, as you have guessed, dont want to collaborate

Imagine how screwed you are in that kind of situation. Investing in such potentially growing coin through exchanges could put you in a yellow to red situation because you never know what's next to really happen as hackers will continue to make attempts on breaching these securities or even taking advantages of the site's bug and I doubt you could even see that as your precautionary measure.
Now you're planning to invest in a Binance which is a really large trading site, are you double nuts? Think again, if you're really planning to invest or to trade.
If that didn't change your mind to not invest in exchanges then search up the previous CoinDesk hack in Japan.
If you aren't really going for trading then never put up too much coins and not even a half of your coins in exchanges.
Never use a wallet that doesn't let you handle the private keys or should I say the online wallets, because due to the user's traffic in using these kinds of services it becomes really vulnerable to hacks that gets their eye into breaking or breaching these sites.

References: Bitgrail Hack
Bomber Francy's Twitter Post

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May 11, 2018, 04:47:56 PM
 #14

Hi guys, please share your opinion on best exchange,which can I use for long-term investment. Recently, Coinsecure,a INDIAN exchange has been hacked.So I am very much afraid about my investment.I am using right now BINANCE exchange.Is it safe for keeping my investment for 1 year.

Which one do you suggest?
No exchange into this current market would really be considered as safe.As you can see about hacked exchanges each one do exist do really have the tendency to hit up such similar situation too.They arent safe or guaranteed to be immune on such hack thats why its been suggested and been advised for countless times that dont ever store up amounts on exchangers that you cant afford to lose.If you do active trade then better just store up not on bulks.

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May 11, 2018, 04:57:52 PM
 #15

Hi guys, please share your opinion on best exchange,which can I use for long-term investment. Recently, Coinsecure,a INDIAN exchange has been hacked.So I am very much afraid about my investment.I am using right now BINANCE exchange.Is it safe for keeping my investment for 1 year.

Which one do you suggest?

No one is safe on any of the exchanges. You just have to take risk and try to trust those exchanges. But for the record, I am currently using 5 exchanges for my tradings.

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May 11, 2018, 05:07:02 PM
 #16

Why would you do that if you keep it for a year?

Worse decision ever. Does your token dont have their own wallet website or something like a program?
If it is under Ethereum then you could just use Myetherwallet or metamask.
There is no need to keep it in a trading site if you are not trading as well.

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May 11, 2018, 05:10:05 PM
 #17

It is not a good idea to keep your coins in exchanges. For long term hold, it is better to use a wallet that belong to you. That is a wallet which you control the private keys.

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May 11, 2018, 05:32:42 PM
 #18

Hi guys, please share your opinion on best exchange,which can I use for long-term investment. Recently, Coinsecure,a INDIAN exchange has been hacked.So I am very much afraid about my investment.I am using right now BINANCE exchange.Is it safe for keeping my investment for 1 year.

Which one do you suggest?

No way that was very risky to keep you investments in any trading platform it may lose all your investments and you wont take it anymore. The best way to keep your investments is to buy and hold it in your own wallet that you are the one who also handling the private keys and keep it safe.

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May 11, 2018, 05:33:11 PM
 #19

There is no best exchange now, I can't call one of the centralized exchanges as the best exchange since they lack security due to centralization. Ddex is good exchange for me.

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May 11, 2018, 06:30:00 PM
 #20

Hi guys, please share your opinion on best exchange,which can I use for long-term investment. Recently, Coinsecure,a INDIAN exchange has been hacked.So I am very much afraid about my investment.I am using right now BINANCE exchange.Is it safe for keeping my investment for 1 year.

Which one do you suggest?

What kind of investments are you doing? Are you buying crypto and just holding the coins? If so, I would say that it would be best for you to buy crypto and then transfer the coins to a secure wallet. It's less likely that you will get hacked that way. If you are daily trading, then you need an exchange. Binnance is a good option, but I'm sure coinbase, bittrex and why not poloniex (now that it was bought by circle) are great options as well. From what I know, coinbase even has an insurance for it's users, so you should be ok with them.

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