Do not store your wallet on the exchange, store it on your crypto wallet.

[gabbie2010]

I don't trust any exchange any longer thus I can't save my coins with them,  I had read many stories of exchange hacks, despite the fact that some of them are acclaimef to be highly reputable and trusted yet are prone to hackers, the best bet is trade with them and withdraw my coins to the wallet, I would rather keep my coins in a hardware or cold wallet thus having the custody of my private keys is Paramount to me.

[Lordhermes]

Not your private key not your money.
Most of the time a trader skips this statement from their brain and end up being a victim of scam, exchange is not a place of storing funds, that's why numerous news about  exchange hacked had been sprouted around the space, not that the exchange is weak enough to maintain security policy but its easily hacked at any given point in time unlike wallets neither web, hardware nor software wallets.

Several occasions, I have received mail notifications about unknown user login into my exchange from different locations however there is not enough funds in it, therefore such scammers bothered not about my little fund, meanwhile I hardly had notifications about wallets, so it'd better to store funds in wallets than exchange for longer time.

[matchi2011]

Some people believe that their cryptocurrency is much safer in exchange than their crypto wallet,

who said this ? they think that exchanges are big and store  big money because people are trading in it especially if its a popular exchange but they dont know that big exchanges are the one that are being targeted the most by hackers . while i never seen a wallet company that have been hacked but except maybe to some wallet users only that are careless and are holding big funds at the same time because they are giving a motive for the hackers to attack them .  your post are useful op especially for the newbies

Big fish always in the number 1 spot by those hackers, breaking the securities of those big exchange is the challenge that hackers wanted to achieved as they will be compensated very well.

You always needs to think about storing huge amount of money into some place where full control is not in your hands, having a hardware wallet is a must in order to keep your assets safe within your full control.

[Darkelf11]

I think if you save funds on exchange we can buy and sell quickly if the price goes down or up, if you are a trader. but if there is just save bitcoins for a long time to sell, then you should save it in a crypto wallet.
I only use myeteherwallet and trust wallet is good to save my crypto

Well, we can't avoid putting our funds on an exchange especially when we do not want to spend more money for fees because if ever you try to withdraw it in a cryptowallet and then after a few days you decided to put your money back again then I think another transaction fee will be placed. My thoughts about this is you should always be updated and mindful of your actions. As much as possible do not store it for a long time.

[pragna]

Some people stored their funds on a crypto exchange, which is not a good thing to do like a good bitcoin. Some people believe that their cryptocurrency is much safer in exchange than their crypto wallet, this concept is a big no for me, well, in fact, I always read some articles about a hacked exchange every week or months. It is much safer to store our money in our crypto wallet but the problem with it is that it is also vulnerable to being stolen by hackers.

We can prevent this thing from storing our private and public keys.
Just key terms to remember:
Transferring of funds
Public key - allows you to transfer funds into it
Private key - allows you to transfer funds out to it.

Exclusively
Public key - publicly known and important for identification
Private key - this should be secret, excluded only for two parties which are the receiver and the sender.

If you lose your public key, you can still access it using your private key and if you lose your private key you cannot access your fund anymore. Storing your private key is a really important thing to do whenever you want to secure your wallet. Do not store it on your device because any device ate prone to hackers. Use any strategies except online.

I have seen many exchanges that was working good but after some days they gone with all coins. So exchanges can not be safe zone for tokens as i also lost some of my tokens after deposit exchanges. If you make trade in any exchanges that another issue but if you just store your coins in any exchanges that your great mistake. Your wallet is your bank and safe house so why you will give your wealth to another for keep. Be careful about it.

thanks.

[hridoyb]

Yes,I agree with you.Etherdelta destroys my life. When i was started bounty this forum this time i was holding my coin on mew and this mew connect to etherdelta .So i requested to everyone never hold you all asset in exchanger try to use a different type of wallet. Keep secret your private key and never click any phishing site always bookmark your essential site. On the other hand, you can trade on Bittrex or binance because it is safe and trusted.

[LittleBitFunny]

BTC is very volatile in the current market, the price is not fixed anywhere, it is fluctuating a lot. Those who have less amount of BTC have to keep this on exchange because you can convert it to usd at any time. If you put it in a hardware wallet, you can't sell it instant, so those who have less BTC prefer Exchange.

[Krislaw]

Not your key, not your coin.
If you are not trading the coin, do not leave it on any exchange because you can't hold anyone if worse happens. Imagine if there is a fork for the coin you stored on exchange, you might not even get the coin forked.
So, create time for your self and move those coins to where you have more control.

[death69]

Storing your asset on an online exchange is not quite a good idea. But people I know depend hard on third party. I mean, they are familiar with giving the third party the power of controlling their asset. You can not judge them for that. We are human and we love to feel comfortable. Thats the main reason why banks still exist and it will unquestionably take many many years for us to change from centralized system to decentralized system

As I trader, I store some of my bitcoin on my electrum wallet and many on an exchange. I trade mostly every week and holding funds on an exchange makes things flexible for me. Just choose the best way that makes you feel good. Bitcoin offers benefits and advantages. It is up to you to utilize it in your own way

[Chris Barth]

I really hope that every newbie sees this. Most of these exchanges are not secured. Specifically when you cannot export your wallet. Newbies seem to buy and store their bitcoin on exchanges an this is so wrong as exchanges cab be hacked at any moment. To any newbie reading this, please download a recommended wallet and store your crypto (not on an exchange).

[Tigerheart3026]

in this 2020 a lot of users storing crypto in the exchanges, they thought trusted exchanges will provided their money safety. but third party and without private key ur money being controlled by exchanges. the several biggest exchanges hacked are proved exchange never safe places for hold.

[uray]

@Alucard1 Do not store your wallet on the exchange, store it on your crypto wallet
It is better to change your topic as you cannot store a wallet on an exchange . Since you are talking about storing your coins or funds in exchanges it is a known fact you cannot trust any of these exchanges if you are having a huge amount of coins. I will only move my assets to the exchange when i am trading and i will never use them as a safe storage facility.

[1kodumtek7]

You have addressed a very good point. Exchanges are not secure at all. We have started to hear about hacking incidents recently. One of them is the kucoin as we all know. For your safety, keep your assets in your own crypto wallet.

[bitcoin31]

It is not good idea for the trader to hold or store their coins to the exchange wallet it is risky because there is more exchange hack and once you store it and your coins is in the exchanges site who is hack your money have chances to lose because the hacker have access to the system to withdraw the funds. The security of the coin is where you store it and how you hold it.

[KingsGambet19]

Iearn that bitcoin is not stored in a digital wallet but only to data needed to access the real bitcoin in the blockchain tht is being kept or encrypted or lock and only a certain private key could access to that data in blockchain. If this is right then why chose a bitcoin wallet to secure bitcoin? Bitcoin in block chain is secured but not the private key, or seed phrase that is being stored somewhere else like in the devices.

Still I agree on you knowing that exchanges hold your funds because they are custodial wallet for bitcoin which is being held by a  third party like the crypto exchange.

[Axelseseclevz]

Of course, it is still safe if your fund is on your own wallet and you have your own private key and password rather than storing it in different crypto exchange because It might be lose or run away by the exchange team like what happen to IDAX before.

[skarais]

It is not good idea for the trader to hold or store their coins to the exchange wallet it is risky because there is more exchange hack and once you store it and your coins is in the exchanges site who is hack your money have chances to lose because the hacker have access to the system to withdraw the funds. The security of the coin is where you store it and how you hold it.

No matter where you store your asset, I believe they carry some risk. But we can only minimize this risk with the suggested steps as it is our own duty and responsibility to do so.

Trader can still keep their asset exchanged simply because they are actively trading all the time. If everyone doesn't entrust their asset to the exchange, then I believe it will greatly affect the demand and trading volume. The only way to anticipate unwanted thing is to only use exchange that are completely safe and responsible for all asset of their users and I think all that can be done by top exchange. However, it is different for long term investor with many asset. All the asset they own are safer if they are stored in a personal wallet that they can control whenever they want.

[Serious475]

Of course, it is still safe if your fund is on your own wallet and you have your own private key and password rather than storing it in different crypto exchange because It might be lose or run away by the exchange team like what happen to IDAX before.

It also depends on what wallet you are using because sometimes there is a down of wallet that might make you lose you bitcoin and that is not a good thing for every bitcoin user. I am not saying that keeping your bitcoin on your wallet is not a good thing because it is the best thing to keep bitcoin but we also have to be wise on choosing wallet and we can ask the professional users what wallet they are using so that you also don't lose you bitcoin.

[DatKing]

I agree on that nobody should store funds in an exchange instead of a wallet. Because we have seen so many hack situations (even in big exchanges) lately. You can lose all of your funds in a situation like that. 

[tanjiran]

Not your private key not your money.
Most of the time a trader skips this statement from their brain and end up being a victim of scam, exchange is not a place of storing funds, that's why numerous news about  exchange hacked had been sprouted around the space, not that the exchange is weak enough to maintain security policy but its easily hacked at any given point in time unlike wallets neither web, hardware nor software wallets.
--

this is a principle that must be understood.
many beginners use exchange wallets to make trading easier, without thinking about transaction fees for sending from private wallets to exchange wallets. whereas the risk is even greater because exchange wallets tend to be the target of hackers.
be wise in dealing with this. transaction fees incurred are proportional to your security, so if you don't care about security then you will definitely ignore this.