Coins kept in exchange, are they safe?

[saobang1938]

no first rule never let coin in an centrelized exchange second rule never forget the first rule for real this is risky even binance and bitfinex are considering the migration to a decentrelized exchange

[Boloton]

no first rule never let coin in an centrelized exchange second rule never forget the first rule for real this is risky even binance and bitfinex are considering the migration to a decentrelized exchange

Agreed. It is best to take care of the security of their own funds. I've never trusted exchanges, it's too risky.

[acaciosc]

First of all it depends on exchange, if you keep your digital assets on reliable exchanges such as Huobi, Binance or Bittrex - they will be safe. But still, it is safer and cheaper to keep coins/tokens in your own wallet.

[SistaFista]

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

But some peoples think exchange wallet is not safe because you don't have the private key.
im personally store my coins and tokens in my own wallet so i have full control of my wallet.

[drofroLinden]

No there are many ways to lost your coins in exchange, coins should be kept in your blockchain addresses and they should remain in there unless you are trading on a daily basis. Is much better for you peace of mind.

[babsjoe]

Coin kept in exchange is as safe as the exchange keeping them. The rule of thumb with cryptocurrency is; ifyou ate not holding a private key  or seed words to your coin, you have no ownership of such coin and coin is not in your control!

[gensol]

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

There have been cases earlier like MtGox and other exchanges where your tokens are not really safe. To keep your tokens safe, the best practice is to keep them in a wallet where you have control to the private keys.

Lately, however we are seeing a lot of cases of private keys hacking, the reason being users are getting scammed with phishing websites and other malware attacks.
I personally am using a hardware wallet - Ledger and keeping all compatible tokens there, few of the tokens I have on exchanges but I dont really trust them, so if its a big amount and a long term hold, I move them to my hardware wallet.

True the issues of phishing sites is on the increase. Not only are coins kept in exchanges, not safe any longer even the ones we keep in our wallet most times are not safe as well due to phishing and malware attacks. These hackers are not relenting, they never rest as they are always on the lookout for a vulnerability.

[geeboy88]

Different people have different thoughts on this but for me, i believe in keeping my tokens in the local wallet instead of in exchanges due to hacking of exchanges. Although i have some tokens in exchanges, this tokens are there because they are tokens for the exchanges and they give interests ranging from 2% and so on.

[Emilyp]

Exchanges are not 100% safe from being hacked and we have seen some that were hacked but I like the added security some of the exchanges offer, like 2fa so I'm sure no casual hacker will get into my account except they hack the exchange itself.

[misterj]

based on my experience, as of now my tokens are all fine in different exchange platforms. it has been almost half a year since i put them there and nothing really change, the volume of my tokens have not changed. the only problem is the price since it keeps decreasing, the chances of selling my tokens became really low.

[Alex09012004]

I always try to keep my money in different places. I use several wallets and also keep some money on 2-3 exchanges.

[TrumpD]

Majority of the cryptocurrency exchanges are not backed by any insurance, also with holders prioritizing anonymity as against KYC with these exchanges, how will you recover your funds when something goes wrong, they do not know you? I think the best case is to keep your coins in your own wallet.

[oho]

I think this is a false impression! In the end, exchanges themselves store on the same purses as you. Only the purse of the exchange attracts more attention because of its volumes!

[warialien7]

if I am safer to keep the coin we have in our wallet, or we can save it in big exchange, because we all know how online world no matter how good the stock exchange can be hacked by Hackers, even if we install software for security measures but hackers can still hack their system, then it's safer to have our coins in the hardware wallet than in exchange.

[Erzinnum]

I`m too lasy to use wallets, cold or not. That`s why i hold everything on the exchange. However, depo is not that big

[Ostonian]

Everything is exactly the opposite. Any exchange is susceptible to hacking, and those tokens that are stored on it can be stolen by fraudsters. And you will not be returned to them later.

[Classica35]

I sometimes keep my coins on exchange, but i do not advise anyone to do same, because there are times some exchanges might get hacked. I do not also allow my coins to stay for too long on exchanges. Although, if you intend storing on exchange, you then need to ensure a high level of security.

[Tatzky]

There are some reports and post around that they lose there coins that they keep on exchange wallet, so it is advisable to keep a separate wallet if your coin is into holding session but if your coin moving often then it is just fine!

[longrhm0]

I suppose it's miles safe to store your crypto in exchanges. that is because with the ones massive amount that they may be handling, they may be doing the first-class that they can to guard themselves from threats like hacking. also, they have the manpower and assets to hire the pleasant humans to assist them out on this area.

[bamb]

Coin on exchange are safe to a degree that such exchange take precautionary standard in protecting customers' funds! Exchange should not be your option if you are holding long term!