How to secure your asset in forkdelta?

[spike420211]

I think the best thing you can do to secure your funds on the fork delta exchange is to create a new wallet in metamask, then connect it to the exchange.
The next step will be to transfer the necessary amount of funds to it, after that start trading. When you finish your interaction with the exchange, simply withdraw funds from your wallet to your ordinary wallet.
The next time you use it from the exchange, repeat the procedure, create a new wallet.

[Tduty]

It's too complicated mate. The better way is to use metamask wallet or hardware wallet! I have been trading in Forkdelta exchange through metamask since 2018 and never faced a single problem. Now I do trade with Ledger wallet, but this is not for everyone!

[LbtalkL]

I dont know how metamask to use and what those functions on this wallet because I hate installing apps or any apps extension in my chrome. I still prefer to use MEW for storing my tokens/coins that supported ERC20. Don't use your main portfolio or MEW wallet when you import your wallet in Fork Delta, create a new one and transfer the token that you wanted to trade in Fork Delta. Your private key in the main portfolio is totally safe and not linked any DEX sites.

I have been using Metamask for a while and I have no problem with it, it is really worth it to install this extension it functions like a ledger but not literally because hardware is more safer. With metamask you are safe with phishing. But your method is good In fact I have tried it too but sometimes your order at forkdelta is not filled that fast so it needs to stay there for a while and I am not comfortable logging in with private key even if it is newly created there are still risk, using metamask minimize the risk in the trading in Ethereum DEX.


@Everyone
Be careful in using forkdelta double-check everything before placing an order you might end up selling your tokens at a very low price, or buying at a very high price, it happens many times and some traders abruptly grab the chance and that trade cannot be reversed.

[gundala]

I only use forkdelta because I have no other choice to sell tokens. It is ironic indeed because in this bad season many tokens are offered at very cheap prices, even though they are very far from ICO expectations because there is no other choice than to get nothing so investors and bounty hunters often dump it there.
When using forkdelta, I immediately import wallet and it's always safe. Possible cases experienced by the OP because there are other people who can access the private key. Indeed, nothing is really safe, so we must always be careful. So do not blame anyone, including the exchange because it could be that when our wallet is hacked there is a technical error that we have done so as to create opportunities for hackers to break into our assets.
The following suggestions are also good enough to be applied, separating between the main wallet and the wallet used for trading, to avoid unwanted losses.

I never disclose my key to anyone. For transactions like Forkdelta I usually create a secondary wallet, then transfer the amount I need to trade into it, after the transaction is completed I will withdraw all the money from the secondary wallet back to the main wallet.

[PrimeNumber7]

When you place an order, you are signing a message that allows you to transfer your coin out of your ‘wallet’ but only if you receive a specific amount of a specific other coin at the same time. The exchange does not ever have the ability to arbitrarily move your coin.

I guess we can call it a smart contract, can we? I have very little knowledge on this.
What if no one buys my coin at my desired price? Will my coin be forever stuck on the contract address? It’s possible that I can put a price which can be higher and no one willing to purchase at that price. When the contract will be ended in that case and the coin will be returned so that someone can ask for a lower price?

Yes, forkdelta and other similar on-chain exchanges are exactly smart contracts. They are run on smart contracts written by the exchange owners/employees.

If your order does not fill, what you can do depends on the exchange, but in every exchange I am aware of, you can cancel the order, although you will often have to pay a second tx fee to cover the transaction that cancels the order. In all cases, if the order is not filled by the time the “lock” on your coin expires, you will be free to spend your coin as you wish and the order will be invalidated.

[kaneki007]

I think the best thing you can do to secure your funds on the fork delta exchange is to create a new wallet in metamask, then connect it to the exchange.
The next step will be to transfer the necessary amount of funds to it, after that start trading. When you finish your interaction with the exchange, simply withdraw funds from your wallet to your ordinary wallet.
The next time you use it from the exchange, repeat the procedure, create a new wallet.

I always use this method if I want to use forkdelta or other DEX, because I'm afraid something like etherdelta will happen again. It's just that I didn't connect the wallet to metamask so I logged in using privatekeys, because my metamask is only for my main wallet and there are no other additional wallets.

[tranduong123]

I don't think the problem is with Forkdelta, the problem is with you. The private key can be stolen from your computer or any phishing website. I rarely use my private key to log into Forkdelta or other Dapps, using Metamask is much safer.

[patz22]

I am using that exchange for a year now and I don't see a way that someone can hack yours unless if they are really good just like what happened in Etherdelta, I think 3 years ago when it got hacked. But with my experience, as long as you got your private keys and no one get the chance to have you are safe.

[Kupid002]

Its not only forkdelta is the exchange that you need to use your private key , remember idex also do the same. Affraid about given your private key to exchange?
Then always make a new wallet everytime you want to sell something in that case not all of your balance will be in danger once its hacked like what happen to etherdelta before.

[bitkanu]

I don't think the problem is with Forkdelta, the problem is with you. The private key can be stolen from your computer or any phishing website. I rarely use my private key to log into Forkdelta or other Dapps, using Metamask is much safer.

Just try to remind you about the old hacked case that happened with etherdelta about how the DNS of exchange site is getting hijacked by the scammer. it's better to withdraw our funds when we have done with our trading. I personally will not try to use metamask as it's still having some bugs.

[Kotone]

Please do not use your private key to sign in. Please use MetaMask.

The private key method is kept there for legacy reasons.

-- freeatnet from ForkDelta

I always used my PK when signing in. Can I know why PK have some more risk than other method such mnemonics? I am not quite familiar with metamask and it requires to use firefox which I dont have in my app now since I change my phone. I am more using the mew than this and I think security wise Im still okay and never been breach. But still wanna know how hackerd can know or breached you by an encrypted site.

[bitcoin-shark]

I believe that forkdelta in combination with metamask offers an acceptable degree of security, however I recommend using a secondary, service wallet and not the main wallet on which we keep all the funds...

[mdzahed134]

Forkdelta is pc friendly decentralize exchange. Mobile users will be experiencing problem because this exchange interface take time to open a few second and place order for buy/sell it’s difficult situation. Even android users can't use metamask. Which extension is worked in computer when you will add in chorme browser. Forkdelta is risky even although you create a new mew address for trading that's dosen't matter.                    

[fuer44]

yes, forkdelta indeed requires entering our private key there but that does not mean it is a big risk. I have kept my assets there for 1 day 1 night but nothing happened, there was an increase in prices that made me get a profit. but still be vigilant and to avoid things that are not desirable, do not drag your assets for a long time there.

[Botnake]

There is always the risk everytime you log in to forkdelta.
Actually i am not using the site now since altcoins season has not come yet, so basically I would just share my past experience and strategy.

here's what I do, I create two wallet, one for my main wallet, 2nd is for the wallet that I will use to access forkdelta and send their the tokens that I like to trade, and if you are trading a big amount of money equivalent, you can always create more wallet while paying more fees, I think that's less risky that exposing your entire balance, just accept the fee.

[CaVO32]

There is always the risk everytime you log in to forkdelta.
Actually i am not using the site now since altcoins season has not come yet, so basically I would just share my past experience and strategy.

here's what I do, I create two wallet, one for my main wallet, 2nd is for the wallet that I will use to access forkdelta and send their the tokens that I like to trade, and if you are trading a big amount of money equivalent, you can always create more wallet while paying more fees, I think that's less risky that exposing your entire balance, just accept the fee.

yes, actually that's a good strategy though I am not a frequent user of forkdelta. used that exchange quite few times up until now. it is always better not to expose your main wallet with your tokens in it. though for me, i only have a lot of crap tokens that are not of value anymore. also, if you are trading with forkdelta, don't store your tokens for too long, once you finished your trading, transfer it immediately to your wallet. the longer your tokens are stored in their exchange, the higher the risk of losing them.

[taufik123]

The use of metamask for logging in decentralized exchanges such as forkdelta greatly helps to minimize the use of private keys and can log in using .JSON files.
There are indeed many ways to be able to log in forkdelta.
To be more secure, metamask is indeed an option.

What really needs to be noticed is that the original forkdelta site should be bookmarked to avoid phishing sites that will easily trap and steal privatekey,
this has already happened a lot and hurt many people.
Can also make a backup wallet so that the main wallet does not need to go to forkdelta, but you need to add a fee for the second wallet to be able to make transactions.

[thiscomm]

in my opinion forkdelta is a pretty safe exchanger. it's just that it all depends on your level of security in using it. it would be nice when you trade, save your coins in a wallet like myetherwallet. do not occasionally save in the wallet exchanger because it is very easy to hack. then use incognito when you enter your forkdelta address so that history is not stored in your computer account. most hacks occur through history.

[jcpone]

Forkdelta is the world's most risky exchange i think. Because in this exchange you need private key to log in.

I have two bad experience in this exchange. My wallet was hacked two times while trading in this exchange.

Now i want to warn beginners who want to trade in Forkdelta.

1. At first i suggest you to use metamask.
2. Those who haven't computer, use mobile phone, they may use a new ERC 20 wallet for trading purpose.
3. You can create a new address in forkdelta or import an existing account. https://i.imgur.com/cTJbtTt.png
4. Then you are able to trade in forkdelta.
5. Now you can make a buy order or sell order. I suggest everyone to Forget your account from forkdelta just after making an order. https://i.imgur.com/B2DBJXD.png
6. You may think that what happen to your asset when you forget your account? Nothing happen. You can view your order without login. When you see that your order is completed then you login to your account and withdraw your asset.
7. You have to remember that every 10000 block your order is expired if it is not completed. So you have to check your order and if expire you have to make an order again.
8. This is because the more time you Login in forkdelta, the more chance to hack your wallet. Hackers need some time to hack your wallet.

I think there are more ways may be to secure asset in forkdelta. So anyone who have idea please discuss here. Thanks my friends.

I'm not a fan of this platform exchange mate. But sometime if the token has been listed to this platform, that's the chance only for me to use it for me to sell the token on which I had received from bounty campaign only, and for what I did was that I import the wallet I used on bounty then after the was being sold, of course at once I export my address.

[Doranile432]

Lol I'm not surprised, they used to say that decentralized exchanges is the safest and unhackable but it's a lies, Everytime I get hooked and decide to try out a dex exchange I always end up walking about, a website telling me to insert my private keys makes me feel somehow, I always end up walking away