Coins kept in exchange, are they safe?

[boyshx]

I feel keeping our coins in exchanges, mininize the risk of loosing our coins to wallet hackers.

Dude, wallets are not the only thing which an get hacked but exchangers can be hacked too. I do believe that with extra precautions wallets are far more encrypted and secured one. For any ERC20 standard wallet we always get the private keys and keystone files. These are the only two options or keys for that lock to open up and hence they must be kept secured enough and should be taken care of when you copy them. I think this is enough security measures for you to have most secured wallet. Exchangers are more vulnerable for the hacks.

[foodstamps]

I feel keeping our coins in exchanges, mininize the risk of loosing our coins to wallet hackers.

It is not safe to keep coins on exchanges. There your coins are not yours. The exchange has private keys for your coins. The best thing is to keep all the coins and tokens in your purses.

[Golftech]

No, it is completely opposite. There is more threat that your coins in the wallet stored can be the potential target of hackers rather than keeping it on your own personal wallet. Like the last news that coinrail has been breached by a group of hackers, and lost tons of tokens. You dont want to feel that do you? It is better to store your coins in your own personal cold wallet.

Like what others said, exchange is also a target of most hackers, if they can penetrate then they will attack right away, if I were you I will keep my tokens inside my own personal wallet, create extra security and make sure that I won't go to any website that is potentially infect my computer, everything can be avoided if you well educated about certain things, so before thinking of transferring your coins to an exchange wallet better to review first the pros and the cons, its your money so better to take care of it..

[tamango]

That's exaclty the opposite! Coins are NOT safe in exchanges because you don't have control of wallet and also hackes try to hack exchanges more frequently than your wallet.

[deevan]

I feel keeping our coins in exchanges, mininize the risk of loosing our coins to wallet hackers.

No, actually they are not safe even if you store them on any exchanges, as you said wallets can be hacked & that can only be done if by mistake you entered your private key on a phishing web page or misplace your private key. So as same with crypto exchanges they are also targeted by hackers, they can also create a fake webpage of exchanges & spread it online or emailing users & users might enter their credentials on these web pages, hence as a result will lose their coins stored on exchanges. Just store your coins in the wallet for which you have the private keys and safeguarding them is your responsibility.

[Sebas.tian]

I feel keeping our coins in exchanges, mininize the risk of loosing our coins to wallet hackers.

The risks are greater in CEX as this entities are favorable targets of hackers. It makes sense that since private keys of individuals are impossible to brute hack (not profitable too), they will target exchanges as all coins gather there. Better yet, move your coins out of exchanges if you are not using them. If you're a trader though, nothing you can do but cross your fingers and trust in the security of your chosen exchange.

[hieuho381]

Well it's a big risk putting your coins in exchange wallets, we have all heard of million dollar worth of cryptocurrency stolen from exchange platforms,it's infact more riskier than having then in your personal wallets, there are better ways to keep your coins safe, like having a hardware wallets,

the money we keep in exchanges is always safe, recently we see, the new exchanges got hacked because their security methods was too weak to defend our money from hackers, but we should think about this: old exchanges, popular exchanges can have better security than new exchanges, that's why rearly have any reports about famous exchanges got hacked. moreover, the advantage of using exchange wallet is that we can use our coins more convinient and faster than personal wallet.

[zhineng2030]

The question is whether you put your money in bank security or be safe on your side? I think each has advantages and disadvantages. Save yourself the risk of losing, and just need a password on the exchange. It is more assured that the exchange must choose to operate for a long time.

[KryptoKai]

I feel keeping our coins in exchanges, mininize the risk of loosing our coins to wallet hackers.

This is true if you don't have a secure computer at home or do not have the knowledge to maintain it i.e. install updates, antivirus, avoid phishing sites etc.. However, exchanges are not unhackable, see what happened to coinrail recently and that will prove that exchange wallets are not as safe as you think

[kliown]

Exchanges are not a safe place to store coins. Better keep your coins on your wallets. But if you want to be a trader then you will have to store coins in Exchanges.

[Marlo Stanfield]

I feel keeping our coins in exchanges, mininize the risk of loosing our coins to wallet hackers.

Countless people have lost what amounts of billions of dollars now over the years because of thinking like this. Exchanges get hacked too. And they are huge targets of course. It's very common for exchange hacks or thefts to happen over the years.

[huhhuh18]

I think it isn't a good idea to keep your coins at an exchange. An exchange can get hacked and you can loose your coins.

[Emilyp]

Exchanges are not 100% safe or even safer than wallets as you may think. Exchanges can easily be hacked and you will lose your fund the same way you would lose them if someone got hold of the key to wallet but if you don't lose your key your wallet address will remain safe from any possible attack.

[shirackjs]

It is not a good idea to keep your in exchanges for the long term. The exchanges might closed down or got hacked as well. If you don’t have the confidence to secure your coins, consider buying a hardware wallet.

[Mr.Freeman]

Everyone writes that keeping money on the wallets of the exchange is unsafe. I heard that the exchange can be hacked, but MEW wallets are hacked even more often. Only my 2 wallet was hacked. And my acquaintances also wagged their wallets. So wallets can be hacked on exchanges and hacked, but personal wallets are hacked more often.

[Swenna]

If wallet can be hacked, what makes other exchanges not prone to hackers? Actually, exchanges are the most prominent sites that are being targeted by hackers because they hold most of the coin of people who participates in trading. Therefore, keeping your coins in an exchange, especially is not a very good idea. Just imagine, if you are a hacker, which more likely will you choose to hack?

A. an anonymous wallet with some coins on it
B. An exchange site with tons of coins

Of course the answer is pretty much obvious especially if one is a skilled hacker. Although, most exchanges are protected by extra layers of protection and defenses, but this can also be cracked down.

Therefore, it is also and not entirely safe. Plus, exchanges can go bankrupt and closed down. They also tend to go into an a site update or maintenance.

[NORD YGGDRASIL]

Everyone writes that keeping money on the wallets of the exchange is unsafe. I heard that the exchange can be hacked, but MEW wallets are hacked even more often. Only my 2 wallet was hacked. And my acquaintances also wagged their wallets. So wallets can be hacked on exchanges and hacked, but personal wallets are hacked more often.

The MEW wallet has never been hacked. It is not true. Hacked DNS. But it's not the same as hacking the MEW. I think that the MEW wallet is one of the most reliable options at the moment.

[ashame]

All Exchanges are not created equal and one can still lose exchange coins due to exchange getting hacked or shutdown due to government regulation or some other reason. So it is useful to keep a good portion of your coins in your own wallet. To reduce the risk, use multiple exchanges and multiple wallets too.

Agreed, keeping your funds in an exchanger is extremely dangerous, You can control your funds in an exchanger, better use a hardware wallet or some cold wallets to store your coins.

[rozenkreitzer]

It depends on the amount involved. If this amount is more than $ 1000, it is better to withdraw money from the stock exchange if you do not trade for a long time.

[lelou]

I think it's safe if you keep your funds in exchange sites for short period of time one month to couple of months.. The best option is buying a hard wallet.