Care of security and don't store your coins on exchanges!

[Folajuwon56]

Thanks for the advice. It's a bad thing and not always secure to store your Altcoins on exchange platforms. I lost about $500 on a coin I store on a particular exchange.

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[maculeth]

I think it depends on the quality of the security exchanger itself, I keep my coins on MEW, it's safe there is no problem.

[mmo4me.2016]

If you do not trading Crypto on an Exchange s for a long time, it should be withdrawn to your personal wallet to ensure safety! Because, Next time, they can delete the pair of Altcoin-related to coin you hold, may be hacked, it will hurt you!

[Novatech8]

This is why I prefer p2p exchanges where you only have to send from your contract address to the other ,more like insta swap ,no need for profile on the exchanges to keep coins ,so ultimately no hacks

[ttcsalam]

  A lot of beautiful informative posts. That's right, big companies are not able to give us any Security  in the currency. It is a big loss for ordinary investors. It is not only loss but it is a big threat.
That's why we all should adopt the simplicity.

[Netnox]

None of the exchanges, no matter how old or reliable they are can be taken as 100% reliable. I learnt the lesson in a hard way, after BTC-e closed down and lost some of my coins. Anyway, exchanges are meant for trading your coins and not a place to store your coins. If you wish to trade, then deposit the coins, trade them and withdraw them as soon as the trading activity is over.

[Rimueng tuha]

It is true that storing coins in a wallet is safer than in an exchange market. Exchange exchanges are very vulnerable to hacking so we must be vigilant if we have coins in the exchange market. If we are indeed an active trader and have a lot of coins to trade then we can save enough stock according to what we are actively trading. The rest we can store in our wallet because it will be safer. Do not keep all coins in the exchange market because it is very dangerous especially when we are exhausted and out of control so it is very easy to hack the coin.

[steveabrahams]

You are right, it's better to withdrawal all your coins and stored in your own wallet than stored your coins on the exchanges but for some exchanges i stored some, only for popular and big exchange like Binance and Bittrex. Also never stored on small exchange like cryptopia, this exchange sucks hard compared with binance.

[roosbit]

-zip-
Never store more in exchanges than you actually need for buying other coins.
A crypto hack can also happen to big exchanges

for the purpose of  storing coins, an exchange has never been an option but then again people who lose funds because an exchange got hacked never have the intention of holding them there, it could be that they have long term buys or sells which were set some time back then happened to have been excuted...and crypto then seats in their exchange wallets awaiting owners withdraw.
Let's not forget people are now making a living off crypto.

[MUG1WARA]

Since long time ago, I always kept the coins I bought in the exchange because I always made it a long-term investment, I also used to hear if the market could be hacked and for that I always kept in my own wallet

[udidrone]

This should be the first thing all crypto holders and investors should learn, you are your own bank and knowledge is power when it comes to being a part of the cryptocurrency community, I expect everybody to know this, skip this and you will regret later.

Unfortunately, people only want to do simple thing without think about that. Maybe they already know about it but ignore it. Because people sometime only want to create account in market then save their coins there.

[klaaas]

Since long time ago, I always kept the coins I bought in the exchange because I always made it a long-term investment, I also used to hear if the market could be hacked and for that I always kept in my own wallet

Best way to go, since swapping services getting more popular and offer more coins it is a good way to skip exchanges at all if you are not a day trader.

[Whosdaddy]

This should be the first thing all crypto holders and investors should learn, you are your own bank and knowledge is power when it comes to being a part of the cryptocurrency community, I expect everybody to know this, skip this and you will regret later.

People know this and yet they still skipped it, I believe that this is not the first time I am seeing this type of advice from people, and for you to know that people don’t pay attention to such advises, how can hackers steal 7000 BTC from a user’s account on exchange, with this large amount of money, why would he keep It on an exchange.

I think exchanges should no longer be promising or guaranteeing these ones keeping their money on exchanges as SAFU, this is what majority of them are holding on to , because they know that their fund will be refunded if stolen from the exchange. Everyone needs to know how to personally keep their money is a safer wallet, where it will be possible for hackers to steal from, provided they don’t release their key.

[babicena14]

I fully support your point of view. Each of the investors should understand that the only way to have full control over your crypto assets is to move them to a wallet that is on your computer, or it can be a hardware wallet such as Ledger or Trezor. If you store your cryptocurrency on an exchange, then be prepared to say goodbye to her in case of a break-in.

[awakpane]

Right. in my opinion, saving coins on the exchange does not guarantee security. because the exchange can be hacked by hackers. thus the coins that we save on the stock are lost and we cannot sue the exchange to return our coins.

[setialovers]

I fully support your point of view. Each of the investors should understand that the only way to have full control over your crypto assets is to move them to a wallet that is on your computer, or it can be a hardware wallet such as Ledger or Trezor. If you store your cryptocurrency on an exchange, then be prepared to say goodbye to her in case of a break-in.

Even big exchanger like binance had experience hacked. Store our coin in our own wallet more secure because we control the private key and its very vulnerable store our coin in exchanger wallet because we dont when hackers trying to hack

[coinnumber]

Sincerely most crypto traders and investors do take some instructions for granted, starting from genesis a warning has been placed round the forum including articles on social platforms not to store much of you fund in any exchange as their security is not guaranteed its always advisable to save you Digital assets in a wallet that you are fully in control of the private keys to ensure proper safety of you funds. I will advice we all key to this instruction to avoid future occurrence.

[niisarearning]

After Cryptopia hack i lost some of Ethereum holdings in that exchange i kept it there because of its huge withdrawal fees thought to take it together once bull run starts . Unfortunately my wallet also hacked nwo its showing CLM in the place of my ehtereum holdign i am not sure when i will get my ethereum back.

[No One]

Very much good idea. Amid incidents of hacking of even allegedly secure and protected exchanges, it is the need of the hour to become aware and protect our tokens. One of the best ways to protect coins is store them in a personal ethereum wallet. You can deposit it in exchanges whenever you want to trade. But one thing to keep in mind is that you should not forget your ethereum key address.

[Whosdaddy]

This is no longer a new thing and I believe that everyone should know this by now. Exchanges are not really safe, and you should not keep your coins there except for coins that you are trading with. I have always thought that Binance is more safe than most other exchanges we have right now but I’m surprised that their site got hacked recently and they lost about 7000 Bitcoins.

The only exchange I’m sure that such has never happened to is Coinbase. But still that doesn’t mean anyone should trust them, it’s better to keep your coins in your wallet and have the private keys to yourself.