dogtana (OP)
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Activity: 845
Merit: 56
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June 20, 2018, 07:33:26 PM |
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Again we saw an exchange got hacked. There would be nothing to hack there if people didn't keep their coins on exchanges! For the love of Dog (lol), don't keep your coins on exchanges, start practicing safety, this is your investment we are talking about!
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The Bitcoin software, network, and concept is called "Bitcoin" with a capitalized "B". Bitcoin currency units are called "bitcoins" with a lowercase "b" -- this is often abbreviated BTC.
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Irvinn
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June 20, 2018, 08:23:05 PM |
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Again we saw an exchange got hacked. There would be nothing to hack there if people didn't keep their coins on exchanges! For the love of Dog (lol), don't keep your coins on exchanges, start practicing safety, this is your investment we are talking about!
Sometimes you can not immediately sell your coins or tokens on the stock exchange and you have to take risks, although I think that all traders should know that leaving the currency on the exchanges is quite dangerous. It often happens that sellers put their coins or tokens at a fixed price for sale and if the buyer is located, the transaction occurs without the participation of the seller. This is quite convenient, so people will continue to risk, because wallets in the market are not very often and everyone hopes that it will bypass them. |
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terrific
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June 20, 2018, 08:31:56 PM |
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People never learn of keeping off their funds on exchanges. They are thinking that the security of that exchange shall be enough to protect their funds.
But once these hackers started to go through the backdoor, all of these funds where off and gone through their pocket.
It's not bad to put a small amount to an exchange so you won't be itching the small transfer fees but make sure that it is acceptable if its lost.
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Esterklu
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Activity: 728
Merit: 10
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June 20, 2018, 08:40:45 PM |
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Yes, it is one of the main rules in crypto. Exchange does not mean wallet. Better pay fee, then lose everything because of hack, scam or another issue.
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Mr.Freeman
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Activity: 462
Merit: 114
“The Future of Security Tokens”
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June 20, 2018, 08:41:30 PM |
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Wallets are hacked more often than exchanges. Crypto market in general is an unsafe market, here at every step there is danger: it is dangerous to invest, the project can be fraudulent; it is dangerous to buy a crypt - it can fall in price, hold in a wallet is dangerous, it is dangerous on the exchange. To withdraw is dangerous. How terrible to live!
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nitrocryptonitro
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Activity: 83
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June 20, 2018, 09:14:24 PM |
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It really depends on what you plan to do with your coins, and how you will trade with them.
If your idea is just to hold, well, of course it's better to withdraw from exchanges and store them in a wallet.
But if your idea is to trade and try to get benefice from a pump or from a sudden raise, there's no alternative way but to keep them on the exchange, to be ready to sell them.
Most of the time, I have open orders for my coins that I keep on the exchanges.
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thorvald
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June 20, 2018, 09:55:53 PM |
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I could not agree more. People need to stop taking chances for convenience sake. Maybe it's convenient to leave them on the exchange but it's totally not convenient to lose thousands of dollars.
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bttmember
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Activity: 938
Merit: 13
AMEPAY
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June 20, 2018, 10:00:42 PM |
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If im not mistaken i think you are referring to coinrail exchange, i think the damage was not huge in that hack, the hacker was only able to takeaway some amounts of a couple of tokens and that too the exchange officials are investigating and soon they will catch the hacker and recover the tokens hopefully, secondly i do agree that we should not store our coins on exchanges, personal wallet with private key is the way to store.
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zero4five
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June 20, 2018, 10:04:28 PM |
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Some prefer to keep altcoins on exchanges. This is very convenient, as modern trading platforms support dozens and even hundreds of different altcoins. However, this approach has many drawbacks, because the user has to trust the funds to a third party.
Most crypto exchanges are not insured against hacking. All this jeopardizes the safety of funds, and sometimes you can temporarily lose access to funds because of technical works or interruptions in the work of the service. Therefore, users who do not sell large volumes on exchanges should consider other options for long-term storage.
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berrygood
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June 20, 2018, 10:13:12 PM |
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Every exchange, though it is one of the biggest or trusted exchange are hacked, it become very ordinal thing in the eyes of investors. The decentralized exchange volume will probably make 1000x next years. Hodling oax is so good decision for me  |
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OTC2018
Jr. Member
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Activity: 86
Merit: 2
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June 20, 2018, 10:18:43 PM |
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This is something that shocks me every time I see people losing large amounts on an exchange, every single coin I've bought spends as little time as possible in an exchange. Until they are safe and secure away from the exchanges I can't rest.
It's a real shame we have to be so safety conscious but in the crypto world you need to be mega careful with your coins and ensure they are secure at all times.
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★ PRiVCY ➢ Own Your Privacy! ➢ Best privacy crypto-market! ★
✈✈✈[PoW/PoS]✅[Tor]✅[Airdrop]✈✈✈ (https://privcy.io/) |
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smyslov
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June 20, 2018, 10:20:22 PM |
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Again we saw an exchange got hacked. There would be nothing to hack there if people didn't keep their coins on exchanges! For the love of Dog (lol), don't keep your coins on exchanges, start practicing safety, this is your investment we are talking about!
That's true only exchange, when you are trading your coin and after you bought some coin, withdraw it asap in your wallet or if you are going to trade and wants an early bird don't pour all your coins, better be safe than sorry, so many hacking has already happened and this will not be the last, hackers are getting better nowadays |
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Ilegendph
Full Member
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Activity: 434
Merit: 103
Thinking on the higher plane of existence.
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June 20, 2018, 10:21:07 PM |
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People never learn of keeping off their funds on exchanges. They are thinking that the security of that exchange shall be enough to protect their funds.
But once these hackers started to go through the backdoor, all of these funds where off and gone through their pocket.
It's not bad to put a small amount to an exchange so you won't be itching the small transfer fees but make sure that it is acceptable if its lost.
I don't know why people keeps on doing this although there are many warnings what will happen on doing such and also there are many example that they lost their funds. Exchanges is not liable if ever your funds are lost. They told you to not do so because it still have vulnerabilities. |
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Bttzed03
Legendary
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Activity: 2114
Merit: 1149
https://bitcoincleanup.com/
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June 20, 2018, 10:25:39 PM |
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Again we saw an exchange got hacked. There would be nothing to hack there if people didn't keep their coins on exchanges! For the love of Dog (lol), don't keep your coins on exchanges, start practicing safety, this is your investment we are talking about!
Yeah it is an unfortunate event. It is not 100% safe to leave your coins or tokens on centralized exchanges unless you are planning to sell them immediately. |
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Bitman73
Newbie
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Activity: 39
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June 20, 2018, 10:27:13 PM |
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Long term HODLing for sure, but many people like to day trade so have no choice but to have their Crypto on an exchange.
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fransxavariustintin
Newbie
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Activity: 140
Merit: 0
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June 20, 2018, 10:27:40 PM |
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saving coins on an exchange is a stupid thing, it's very dangerous, it's the same you give someone a chance to take your coins, many people put their coins too long on the bourse and eventually their coins are gone, remember! do not put your coins on the exchange too long, you better put them back in your wallet.
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batang_bitcoin
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June 20, 2018, 10:30:21 PM |
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Long term HODLing for sure, but many people like to day trade so have no choice but to have their Crypto on an exchange.
But with the recent incidents of exchange hacking this only gives an idea that every exchange can be hacked even the most secured ones. Day trading is popular but they have to make sure that after they trade, they must pull out and move their funds somewhere which is more secured like a hardware wallet or desktop wallet where they have full control of their funds. I guess laziness is what triggering others for letting their coins sleep on exchanges and they trying to avoid fees, I feel that way either. |
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PHPSELLER
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June 20, 2018, 10:40:50 PM |
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Again we saw an exchange got hacked. There would be nothing to hack there if people didn't keep their coins on exchanges! For the love of Dog (lol), don't keep your coins on exchanges, start practicing safety, this is your investment we are talking about!
This is correct. It's unsafe to keep your cryptos for a long time in an exchange because everything can happen and your money will be stolen, we should be careful of keeping our money there, the best thing is to withdraw our winning in just a few days at the maximum. Why there is some web wallet? web wallets and hardware wallets are for saving our bitcoin with a high security and exchanges are for trading not for saving our money, keep that in mind guys. |
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Omega Weapon
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June 20, 2018, 10:52:19 PM |
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Again we saw an exchange got hacked. There would be nothing to hack there if people didn't keep their coins on exchanges! For the love of Dog (lol), don't keep your coins on exchanges, start practicing safety, this is your investment we are talking about!
It is understandable that some people that trade everyday keep their coins in exchanges but I think that if people really care about their coins it will be preferable that at the end of the day they send their coins to an address of which they are the only person with the private key, yes it is true that you are going to spend more on fees but it is better to lose some fees than it is to lose all your money. |
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hackzang12
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June 20, 2018, 10:55:30 PM |
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Again we saw an exchange got hacked. There would be nothing to hack there if people didn't keep their coins on exchanges! For the love of Dog (lol), don't keep your coins on exchanges, start practicing safety, this is your investment we are talking about!
I really hope that some exchanges would offer multiple wallets that are really offers high security features and one factor that i really love on exchanges they are easier to use and trade it once we got log on our account. |
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