Coins kept in exchange, are they safe?

[Dutchyyy]

Exchanges are not made for storing coins, period. Wallets are made for that. I think that every coin that is not going to be traded soon should say in wallet and in exchanges will have only coins that we are going to trade soon.

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[kalincoolcute]

It depend on the exchanges actually. If you can choose a good exchange than it is comparatively safer, but there is no assurance to it.

[michellee]

even if the exchange is safe, it is not good to keep your coin in the exchange because we don't know what will happen to them later. and if we have an experience with the scam exchange site, we need to always be careful and it is better to save in separate wallet so you can manage your own coins. but if you only want to keep your coins for temporary because you think the price will increase high, then it will no problem to do that.

[harbin55]

I think yes but behalf of it, it depends to the situation that coins kept in exchange are safe,
but don’t worry last time I know they are safe to use in this business and industry because they are trustworthy.

[uozer]

Don't ever feel this is a right decision at all. Many experiences in the past had shown that Exchanges are even the most aimed or targets for hackers, where Huge ransoms are being demanded from the unlucky or affected exchange by the hackers before the hacked lumps could be released. Therefore, withdraw your coins back to your wallets as soon as you are done trading with any exchange and secure your wallets yourself to the best of your ability, which is hitherto more safer.

[BeNBeNfdnzm]

Im always keeping some amount of crypto at Binance, im more then sure it is safe, but even if its hacked im not affraid to lose this little amount. Okex,Huobi,Bittrex and Bitfinex are too very trustworthy

[jerry0]

How many coins do most of you own then?  Let say you bought 5 different coins on binance and another 5 on bittrex.  Let say these are not bitcoin, eth or those big name coins and its something like faircoin, edgeless and other coins.  So you are going to download 10 different wallets on your computer to store these coins assuming your hardware wallet doesn't allow you to store these coins?  Or imagine someone with 20 different coins they bought.  You going to send them to your 20 different wallets on your computer?

[hoanggiangg000]

this is not the most reliable way to store your funds. more recently, there was big news that many wallets have been hacked. people were losing a lot of money. therefore, storage on the exchange is not as reliable as possible.

[barhavsky]

It seems that coins on the exchange is safer than the coins that are stored in MEW because MEW doesnt have 2fa so it can directly do the delivery of coins compared to the exchange that must perform various verifications in advance to make the delivery of coins even for trading there is exchange that requires 2fa first .

[Jamesdila1]

really i cant sleep well if my coins are in exchanges. its really risky. always use a official wallet for coins and use a hardware wallet and backup the private keys and keep them in a secure place.

[AirWire]

Some of the big exchanges have a certain level of trust however, things can run great until the day they don't. I would use a hardware wallet if you plan on holding and the wallet supports your coins. Desktop wallets are also an option if hardware does not support all your coins/tokens. Basically, do you trust some company or group to protect your assets more than yourself?

[Psynthax]

Im always keeping some amount of crypto at Binance, im more then sure it is safe, but even if its hacked im not affraid to lose this little amount. Okex,Huobi,Bittrex and Bitfinex are too very trustworthy

Did you remember how many people are getting hacked and their amounts have been stolen by the scammer? There is a lot of hacked case. It's safe for only short-term.
it's much better if you can send your amount back to the wallet.

[Abu Shadow]

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

Better to keep it on your wallet rather than keeping it at the exchanges as more history of hacking in exchanges and it's not safe. Recently some exchanges had been on DDOS attack.

[residivis]

I think it depends on the exchange where they store it, if i save on the exchange that requires google authenticator and i think if so the tokens or coins that we keep on the exchange will be safe.

[Glen1989]

No one can guarantee your safety . There is a risk of storage everywhere: in exchange and in wallets. Try to keep your coins were divided into different places - so the risk of losing everything is reduced

[thuthitao14]

I prefer to keep coins in my wallet, or on a large exchange. But no matter how good the stock exchange may be, it can be hacked.

[bummm]

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

I am trying not to keep coins in online services. The safest place for keeping cryptocurrency is hardware wallet. I used to work with Trezor. So my advice is try to avoid exchanges and online wallets as place for keeping your savings.

[hetecon]

much depends on the particular exchange and its relation to security. I think that now there are opportunities to hack many exchanges.

[upbit]

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

Keep in the wallet is the safest. And the risk is almost excluded. And as exchanges can either hack or they fail and this is not an isolated case

[Svelto]

I disagree with OP, keeping coins in exchanges are risky. Exchanges are targets of hacking, we might not see our coins again if the exchanges got hacked. Keeping coins in a wallet we control is the safest, provided you keep the private key safe and secure your computer.