How do I check the exchange is safe?

[Reyan]

I’ve been trading on the same two popular exchanges for a while. But now I want to trade FNTC token which is trading on Ethen.market. It looks the same as other exchanges and says it’s decentralized but how do I know my private keys are safe with them? They are new and don’t look very well known. Is there a way to know they are safe if they haven’t been around for too long?

[1714870776]

1714870776

[1714870776]

1714870776

[1714870776]

1714870776

[1714870776]

1714870776

[1714870776]

1714870776

[sniper2018]

I’ve been trading on the same two popular exchanges for a while. But now I want to trade FNTC token which is trading on Ethen.market. It looks the same as other exchanges and says it’s decentralized but how do I know my private keys are safe with them? They are new and don’t look very well known. Is there a way to know they are safe if they haven’t been around for too long?

Don't see why you would need to go to a new exchange as long as the established ones like IDEX and Etherdelta exist. I will never switch to a new untrusted exchange. There are so many of them everywhere, like garbage.

[a31078]

Though the exchange might be new and you feel it is safe for you to use but I will like you to take your time to do a very good research about the safety and potentials of it before you move your funds to it. I see no reason why you should even use an exchange you are not sure of when you have better and more reliable ones that have been in the market for a while.

[bhadz]

Why use an exchange that you are doubting? send your tokens first to another wallet (metamask) for that token only and connect that to the exchange for your experimental trade with that exchange. But its easier to avoid it and use a well trusted exchange that has that token listed.

[Googlegenius]

All decentralized exchanges are safe because they operate on blockchain. They will have no access to your private key, don’t hold your personal information and account balance. All trades happen not on a centralized server but run on a distributed ledger.  I’ve checked out Ethen, they have a smart contract for trading https://etherscan.io/address/0xf4c27b8b002389864ac214cb13bfeef4cc5c4e8d#code, no registration, and an open code for withdrawing tokens https://ethenmarket.github.io/. Means your funds are safe.   

[Hodlvcl]

I’ve been trading on the same two popular exchanges for a while. But now I want to trade FNTC token which is trading on Ethen.market. It looks the same as other exchanges and says it’s decentralized but how do I know my private keys are safe with them? They are new and don’t look very well known. Is there a way to know they are safe if they haven’t been around for too long?

Don't see why you would need to go to a new exchange as long as the established ones like IDEX and Etherdelta exist. I will never switch to a new untrusted exchange. There are so many of them everywhere, like garbage.

New exchanges often offer better service and functionality. Decentralized exchange I’ve tried Ethen once and it seemed faster than others and had a better interface. As for the safety, decentralization is the best thing out there with the maximum safety that can be achieved at the moment.

[stomachgrowls]

I’ve been trading on the same two popular exchanges for a while. But now I want to trade FNTC token which is trading on Ethen.market. It looks the same as other exchanges and says it’s decentralized but how do I know my private keys are safe with them? They are new and don’t look very well known. Is there a way to know they are safe if they haven’t been around for too long?

New exchangers doesn't mean that they are automatically considered to be scam yet all exchangers would really go into that starting point where they are unknown or just popped out on the market.
The important thing you can do is when you do tried to check out the legitimacy of an exchange then always seek out for any feedbacks and make sure those words aren't just on few counts.It always matter on community views and experience.If you haven't find any comments then try for yourself on small amounts.

Make New wallet - Pass tokens from old wallet to new - Input on the exchange your new wallet private keys.

These steps might be hassle but would really decrease the risk since you aren't using your main wallet.

[Esterklu]

For DEX first i am using new MEW address and send their just tokens which i want to trade and ETH for gas. If it is not DEX - i am starting with min sums and go to their social media to see what people are talking about this exchange.

[Jedie22]

I’ve been trading on the same two popular exchanges for a while. But now I want to trade FNTC token which is trading on Ethen.market. It looks the same as other exchanges and says it’s decentralized but how do I know my private keys are safe with them? They are new and don’t look very well known. Is there a way to know they are safe if they haven’t been around for too long?

Traders should always be aware of hacks. There are a lot of stories about security problems with decentralized exchanges although less so than with centralized ones. The main thing is to keep your money on a secure wallet and withdraw it as soon as possible.

[reflector]

I’ve been trading on the same two popular exchanges for a while. But now I want to trade FNTC token which is trading on Ethen.market. It looks the same as other exchanges and says it’s decentralized but how do I know my private keys are safe with them? They are new and don’t look very well known. Is there a way to know they are safe if they haven’t been around for too long?

You may see the review about the exchange on the forum or review sites such as badbitcoin.org or something. These will be most helpful to learn the worth of the exchange site or other crypto related sites.
So I have noticed exchange side there is no big scams or anything because they want to run the project for long time. Hence they will be perfect go with it.

Checked this link below to find the legitimate.

https://badbitcoin.org/thebadlist/index.htm

[hotimbineh]

until now I have never traded in a new market that uses private keys before entering the coin marketcap because this is a harti-careful step and if the token results from the bounty then I will wait until there is an exchange that is recommended if not then forkdelta is the last exit

[Ojengonggu]

until now I have never traded in a new market that uses private keys before entering the coin marketcap because this is a harti-careful step and if the token results from the bounty then I will wait until there is an exchange that is recommended if not then forkdelta is the last exit

I agree with you, because I have experienced it, if the name of the exchange is not wrong, clearclenet.com and after I managed to sell my token, after that I was unable to withdraw my funds and until finally I joined the telegram channel and there were many members asking the same as me and in the end the admin disappeared from the telegram and the site was not accessible

[Vargum]

I think for the exchange of tokens on the basis of Ethereum you can use more well-known exchanges, in which there is confidence that they are safe. It is better not to use new exchanges, but to use proven

[jamids]

I’ve been trading on the same two popular exchanges for a while. But now I want to trade FNTC token which is trading on Ethen.market. It looks the same as other exchanges and says it’s decentralized but how do I know my private keys are safe with them? They are new and don’t look very well known. Is there a way to know they are safe if they haven’t been around for too long?

I would recommend for you to read first the review of the people about the exchange and you have come to the right place to ask information since people here are all interested in cryptocurrency. If you can't really avoid trading there then better test it out with a small amount first and if you can use metamask in that exchange then do so so that you can protect your private key. There are so many exchanges nowadays that we don't know if they are scam or not so if you are not that urgent to trade then better wait for it to be listed in a more reputable exchange.

[Xuaquing141]

Choosing the reputation and large vulume exchanges is the safest way when you sell or buy tokens. Btw, with the decentralized exchange like: Idex or Etherdelta, before trading, you must deposit the private key of your MEW wallet. Please using withe Metamask to protect your wallet

[lumira555]

Use only trusted exchanges, so you to protect yourself

[Casdinyard]

I’ve been trading on the same two popular exchanges for a while. But now I want to trade FNTC token which is trading on Ethen.market. It looks the same as other exchanges and says it’s decentralized but how do I know my private keys are safe with them? They are new and don’t look very well known. Is there a way to know they are safe if they haven’t been around for too long?

Don't see why you would need to go to a new exchange as long as the established ones like IDEX and Etherdelta exist. I will never switch to a new untrusted exchange. There are so many of them everywhere, like garbage.

If I were you I will just wait for that coin to be listed in other exchange sites rather than risking my coins especially you need to import your private key. However, if you really want to sell, just take the risk by sending to other wallet and use it to that exchange.

It's fine to consume more gas rather than compromising your wallet.

[badykvik]

Personally, I will advice that you use trusted exchange rather than looking for a new one that you are not even sure of how safe your token will be in it. Better still, you can wait patiently for the token to get listed on an exchange before you use the platform.

[Luvr1000]

It seems to me that the best way is to find a person who has already made transfers through this exchange, it is better to find several people, also to find reviews on the Internet

[ciang huang]

I’ve been trading on the same two popular exchanges for a while. But now I want to trade FNTC token which is trading on Ethen.market. It looks the same as other exchanges and says it’s decentralized but how do I know my private keys are safe with them? They are new and don’t look very well known. Is there a way to know they are safe if they haven’t been around for too long?

Don't see why you would need to go to a new exchange as long as the established ones like IDEX and Etherdelta exist. I will never switch to a new untrusted exchange. There are so many of them everywhere, like garbage.

If I were you I will just wait for that coin to be listed in other exchange sites rather than risking my coins especially you need to import your private key. However, if you really want to sell, just take the risk by sending to other wallet and use it to that exchange.

It's fine to consume more gas rather than compromising your wallet.

I agree with your opinion, bro, preferring to wait for a better exchange and lots of volume than the new exchange because I have experienced strange things in dealing in new exchanges because of many sudden problems.