How to keep the BitCoins Safe?

[Koadharber]

Hack and Hacks, every day I am waking up to the news of crypto exchanges getting hacked, recently a crypto exchanges founder died and he seem to have a hold of $190 million worth of BitCoins with him.
I have taken a pledge of never using a custodial exchanges, even if it is Binance, and not matter how much CZ says that he will keep the cryptos SAFU, I am not doing the mistake of keeping my money at stake.

I did a detailed study of what exchanges to use and what wallets to use -
 

• Exchanges - Instant exchanges only, Changelly, ChangeNow, CoinSwitch etc.
• Wallets - Divided into two parts - Ledger NANO S for long term investment, and keeping the funds safe, MultiCurrency wallet for trading, ex - Gaurda Wallet, Exodus Wallet

Let me know what you guys think.

Storing our Bitcoin into the Exchanges is not recommended to everyone because we cannot guarantee that it is safe there,if we want to secure our Bitcoins we need to store it into a hardware wallet and also make a two factor Authentication for our Security.

[MFahad]

no different from you, I personally use exchanges only to convert to fiat. besides that most of the crypto I keep in the hardware wallet. and some at multiwallet. because 90% of security is in yourself. if in exchange, I don't believe that. so, thank you, you've shared your experience in storing crypto assets.

Yes, Hardware wallets are the most secure way to store your coins. As through hardware wallet coins are stored in offline status, there is no way they can be hacked.

Hack and Hacks, every day I am waking up to the news of crypto exchanges getting hacked, recently a crypto exchanges founder died and he seem to have a hold of $190 million worth of BitCoins with him.
I have taken a pledge of never using a custodial exchanges, even if it is Binance, and not matter how much CZ says that he will keep the cryptos SAFU, I am not doing the mistake of keeping my money at stake.

I did a detailed study of what exchanges to use and what wallets to use -
 

• Exchanges - Instant exchanges only, Changelly, ChangeNow, CoinSwitch etc.
• Wallets - Divided into two parts - Ledger NANO S for long term investment, and keeping the funds safe, MultiCurrency wallet for trading, ex - Gaurda Wallet, Exodus Wallet

Let me know what you guys think.

Exchanges are not preferable in storing bitcoins. Always note that the exchanges are more vulnerable to hackers than bitcoin wallet. We should only store our bitcoins in a safe bitcoin wallet for us to guarantee that no one can stole our bitcoins.

Recently cryptopia exchange was hacked and many people lost their money. I think we should always move our funds from exchanges after doing trading. If we want to trade again, we should again move fund back in exchange. Although it is tiresome to move fund back and forth the exchange but it is more secure.

[SistaFista]

Hack and Hacks, every day I am waking up to the news of crypto exchanges getting hacked, recently a crypto exchanges founder died and he seem to have a hold of $190 million worth of BitCoins with him.
I have taken a pledge of never using a custodial exchanges, even if it is Binance, and not matter how much CZ says that he will keep the cryptos SAFU, I am not doing the mistake of keeping my money at stake.

I did a detailed study of what exchanges to use and what wallets to use -
 

• Exchanges - Instant exchanges only, Changelly, ChangeNow, CoinSwitch etc.
• Wallets - Divided into two parts - Ledger NANO S for long term investment, and keeping the funds safe, MultiCurrency wallet for trading, ex - Gaurda Wallet, Exodus Wallet

Let me know what you guys think.

I think using hard wallet like ledger nano is a good option to storing your coins safely.
Exchanges are not immune to be hacked, always withdraw your coins if you have much coins there.
Otherwise, your coins could be hacked like the recent hack occurred in cryptopia exchange.

[kxz1498]

paper wallet or hardware wallet is the safest.

[anodyne]

Well, nowadays, we all know and aware that hackers are spread all over the community even here in the crypto currency community. So what should all gonna do is to keep our Bitcoin stored in a safe place somehow like putting it in a wallet. A safe crypto wallet where we can rely our assets into it. Now, I am very proud that our country is having a wallet in connection with out fiat money which we able to conveniently use and stored our fiat and crypto currencies there easily.

[fosco333]

Hack and Hacks, every day I am waking up to the news of crypto exchanges getting hacked, recently a crypto exchanges founder died and he seem to have a hold of $190 million worth of BitCoins with him.
I have taken a pledge of never using a custodial exchanges, even if it is Binance, and not matter how much CZ says that he will keep the cryptos SAFU, I am not doing the mistake of keeping my money at stake.

I did a detailed study of what exchanges to use and what wallets to use -
 

• Exchanges - Instant exchanges only, Changelly, ChangeNow, CoinSwitch etc.
• Wallets - Divided into two parts - Ledger NANO S for long term investment, and keeping the funds safe, MultiCurrency wallet for trading, ex - Gaurda Wallet, Exodus Wallet

Let me know what you guys think.

Exchanges are often targeted by hackers because it holds many coins in their wallet.
Therefore, using exchange to store your coins is absolutely out of recommendation.
Using Ledger NANO is a good idea because it is your own wallet, not like exchange wallet. Just use exchange wallet when you want to trading.

[Blockchainer06]

1. Don't use the administrator!



2. Don't be afraid of trouble. Every password is different. If you can't remember it, just write it down on paper.



3. Routers must be encrypted. The more complex the password, the better, or write it down on paper.



4. There is no free lunch in either VPN or cafe



5. Use advanced security measures such as invisible browsing, scanned login and two-step verification.

[nydiacaskey01]

If you plan to keep or hold Bitcoins for a long period of time and you have no plans of spending them from time to time as well, its better to invest in hardwares like Trezor and Ledger Nano. Keeping funds in exchanges is a good idea only if you plan to buy coins in the near future. That's a lot of inconvenience if you move your coins from your hardware wallet to your exchange from time to time to buy coins and opportunity might not be there anymore by the time the coins is available in your exchange wallet.

[worm44]

use hardware wallets

[Bunsomjelican]

I had been here for more than 1 year, and yet using Electrum as my personal cold wallet so far was a good one and also Mulltibit.hd, then if ever I used exchange site platform I always activate or enable the 2FA authentication for me to secure it and prevent it from the hacker too.
Also if you have money you can also buy hardware wallet.

[Fatunad]

The right situation Exchanger will never good safety your holding every coin.it is the main decision lot of hacker have been exchanger.but you can choice a hardware wallet.it is the most safety and your can keep more safety.whn your trading has finished then you can withdraw your coin and keep another your hardware wallet.

Its never been wise to store your coins into an exchanger because anytime it can be hacked.. And we have seen lots of them.. Hardware wallet is not 100% safe but some how it do have lesser risk compared to other storages..

[imstillthebest]

Its never been wise to store your coins into an exchanger

its wise if you are an active trader but you must need to chose the safest and the most trusted one  because they have more solid security than the weaker brands  .

Hardware wallet is not 100% safe but some how it do have lesser risk compared to other storages..

if you think that hardware wallet is not safe then go use your online wallet and store hundreds of cryptos in it . lets see if you cant get hacked . in reality , hardware wallets are more secure because there are completely offline as long as you didnt connect them on your gadgets . that means no one can potentially harm you .

[Commitments]

I will safe my asset on hardware wallet than have keep on exchange wallet, almost exchange wallet is not safe and we got news many exchange was hacked, by saving on nano ledger wallet we can save it for long time without worry about our asset will gone.

[proTECH77]

Haven been here for long time now, hardware is my storage device and my cryptocurrencies Bank. Hardware is the best option for safe and secure Bitcoin, though many other options been mentioned here are pretty good if they are secured and out of bound to hackers.

[sopanbmp]

"Nothing is safe in internet"  it's not wrong with that sestence it depens on people who use it, precision is needed,many method of scams are very hard to be avoided for example spams phising link on email or others, I've experienced before, Logins history are showing up when I open my email box. fortunately I never save my coin like ETH or BTC in a Exchanger. im using ETH wallet (Metamask) or Blockchain wallet to save my found. just in case for the next level of security system you can use Hardware wallet like ledger nano or something similar with that.

[Slow death]

Hack and Hacks, every day I am waking up to the news of crypto exchanges getting hacked, recently a crypto exchanges founder died and he seem to have a hold of $190 million worth of BitCoins with him.
I have taken a pledge of never using a custodial exchanges, even if it is Binance, and not matter how much CZ says that he will keep the cryptos SAFU, I am not doing the mistake of keeping my money at stake.

I did a detailed study of what exchanges to use and what wallets to use -
 

• Exchanges - Instant exchanges only, Changelly, ChangeNow, CoinSwitch etc.
• Wallets - Divided into two parts - Ledger NANO S for long term investment, and keeping the funds safe, MultiCurrency wallet for trading, ex - Gaurda Wallet, Exodus Wallet

Let me know what you guys think.

Dude, I said that in another post that I made... it is duty that exchange keep your clients' funds safe, just as a bank keeps our money safe. The exchanges need to have a security scheme that is very good and very efficient so that customers stay safe while leaving their currencies in exchange. If an exchange can not guarantee the security of its clients' funds, then why does this exchange exist?

Haven been here for long time now, hardware is my storage device and my cryptocurrencies Bank. Hardware is the best option for safe and secure Bitcoin, though many other options been mentioned here are pretty good if they are secured and out of bound to hackers.

Do you do day trade?

[H1N1]

Hack and Hacks, every day I am waking up to the news of crypto exchanges getting hacked, recently a crypto exchanges founder died and he seem to have a hold of $190 million worth of BitCoins with him.
I have taken a pledge of never using a custodial exchanges, even if it is Binance, and not matter how much CZ says that he will keep the cryptos SAFU, I am not doing the mistake of keeping my money at stake.

I did a detailed study of what exchanges to use and what wallets to use -
 

• Exchanges - Instant exchanges only, Changelly, ChangeNow, CoinSwitch etc.
• Wallets - Divided into two parts - Ledger NANO S for long term investment, and keeping the funds safe, MultiCurrency wallet for trading, ex - Gaurda Wallet, Exodus Wallet

Let me know what you guys think.

I am one of the victim of the cryptopia exchange hack that occurred in the last month.
Using exchange wallet is riskier than using your own wallet, so better not using exchange wallet to store much coins.

[hahay]

Hack and Hacks, every day I am waking up to the news of crypto exchanges getting hacked, recently a crypto exchanges founder died and he seem to have a hold of $190 million worth of BitCoins with him.
I have taken a pledge of never using a custodial exchanges, even if it is Binance, and not matter how much CZ says that he will keep the cryptos SAFU, I am not doing the mistake of keeping my money at stake.

I did a detailed study of what exchanges to use and what wallets to use -
 

• Exchanges - Instant exchanges only, Changelly, ChangeNow, CoinSwitch etc.
• Wallets - Divided into two parts - Ledger NANO S for long term investment, and keeping the funds safe, MultiCurrency wallet for trading, ex - Gaurda Wallet, Exodus Wallet

Let me know what you guys think.

I am one of the victim of the cryptopia exchange hack that occurred in the last month.
Using exchange wallet is riskier than using your own wallet, so better not using exchange wallet to store much coins.

After all, an exchange is not recommended to be used as a long term storage and with these incident, hopefully you will not repeat the same mistakes for the future. Saving for the long term would be better to use a wallet where you can have full control with private key which even if there is a problem with the device you are using, you can still restore it in the future.

[Juggy777]

I will safe my asset on hardware wallet than have keep on exchange wallet, almost exchange wallet is not safe and we got news many exchange was hacked, by saving on nano ledger wallet we can save it for long time without worry about our asset will gone.

Hey that’s a good choice using a hardware wallet for storing your coins, I’ll agree with you exchanges are not a safe place to store your coins. I also recommend using electrum wallet for all, those who’re unable to buy a hardware wallet, it’s safe and secured. It’s pertinent to note that many investors do not use 2fa for extra security, and often transact using public wifi I would caution you against transacting on a public wifi.

[trader34]

Hack and Hacks, every day I am waking up to the news of crypto exchanges getting hacked, recently a crypto exchanges founder died and he seem to have a hold of $190 million worth of BitCoins with him.
I have taken a pledge of never using a custodial exchanges, even if it is Binance, and not matter how much CZ says that he will keep the cryptos SAFU, I am not doing the mistake of keeping my money at stake.

I did a detailed study of what exchanges to use and what wallets to use -
 

• Exchanges - Instant exchanges only, Changelly, ChangeNow, CoinSwitch etc.
• Wallets - Divided into two parts - Ledger NANO S for long term investment, and keeping the funds safe, MultiCurrency wallet for trading, ex - Gaurda Wallet, Exodus Wallet

Let me know what you guys think.

I think the best way it is just to keep your funds on a hardware wallet like the ledger nano s (or also others). All other methods are not even remotely comparable in terms of security.