Survey: 25% of crypto users not securing assets as well as they think

[Kabul]

They are definitely not crypto enthusiasts. They just hold their bitcoin and their altcoins for profit without learning how to use them appropriately.

At least spend some of your time to learn how to use a hardware wallet. It is safer than ever. Or turn on 3 layer of protections in any centralized wallet or exchange that you use

[SirLancelot]

Cryptocurrency hardware wallet manufacturer Ngrave released the initial results of its ongoing crypto security survey on Jan. 13. 2021. READ THE COMPLETE ARTICLE HERE: https://worldpublicityblog.com/index.php/2021/01/16/survey-25-of-crypto-users-not-securing-assets-as-well-as-they-think/

It’s normal, I even do that for some of my coins, I just store them in an exchange wallet so that I can easily sell them and withdraw them anytime I want. It all depends on what you’re really using cryptocurrency for, some of us are not ready to hold cryptocurrency that long, it can be that we are just receiving it as a payment for a work that we did, and sometimes we don’t see a reason to hold.

Only time that I secure my coins really tight is when I want to HODL for a long time, and I have a special wallet for doing that. The only time you will be getting wrong is when you’re holding in a not so secure wallet for a long time.

[wxa7115]

They conducted the survey from 1400 users and there will be bounty hunters as well or casual users but any seriously investor will be taking care of their investment and most probably secure their assets. Majority of the claim is that they are holding the coins in exchanges which is the stupidest thing i have heard because every year you hear about exchange hacks and still everyone is willing to hold the coins in third part wallets .

In theory those that hold the most cryptocurrencies are the ones that stand to lose the most and are the ones that should be the most worried about their coins and should do everything they can to secure their coins properly.

Unfortunately this is not what we see, many of them keep their coins in exchanges because they want to trade which means that their coins are always at risk of being stolen by hackers or by the exchanges themselves, many of them also keep their coins on their phones and this is a mistake as phones are incredibly vulnerable to hackers as well, so if anyone has a significant amount of money invested in this market they should get at least one hardware wallet to mitigate the risk.

[illnino]

In no case should you leave coins on the exchange for a long time. Many consider the exchange to be a safe place, but this is a mistake. Better to transfer funds to your wallet and use multi-step login and password. And most importantly, tell fewer people about your digital wealth.

[Febo]

I am sure the number is much higher than 25%. People trade and keep their coins on exchanges. That is very insecure. This will not change that fast. Might even take 10 years for a change. Some financial crysis with a lot of banks go bust would help here a lot. People would get educated about their safety in a year.

[X-ray]

In no case should you leave coins on the exchange for a long time. Many consider the exchange to be a safe place, but this is a mistake. Better to transfer funds to your wallet and use multi-step login and password. And most importantly, tell fewer people about your digital wealth.

They never think the possibility for the exchange site to be hacked by the hackers. I have ever seen my funds got frozen on kucoin due to the hacked case that happened with it and in my opinion if it's not worth to keep your fund on your exchange site's account. It's not your keys and it's not your money as the exchange site has the access over your funds on the exchange sites.

[Emerald688]

I think that figure is more than 25% of people who keep their assets in their personal wallets. most of them store on exchange exchanges. and I think it's very insecure, because a lot of hackers will be targeting it. We better secure our assets in our personal wallets.
And most people think storing on a double-security exchange feel secure, but that's not necessarily the case.

[Ridwan Fauzi]

Hardware wallet only recommended for those who intent to hold bitcoin or altcoin for long term investment, like five years-ten years from now. They are strongly advised to use hardware wallets because they do not instinctively visit the exchange where they store crypto currency.

Different for those who tend to hold bitcoin or altcoin for short term investment like 1 month and more then they will have more activities to see their asset on the exchange. You can imagine how complicated they are if they stores bitcoin and altcoin in a hardware wallet and they have a habit of selling them when they gets a little profit.

[Rengga Jati]

You are right. I am personally also not using the hardware wallet.
First, it is not about not going to secure the assets, but rather than using the assets for trading and not for long term holding. So, I prefer to store it on a trusted and reputable exchange and using it for trading.

But of course, some are still stored in likely desktop wallet, but not for a long term hold.

And about not storing the assets, some people also may think that it is expensive maybe. Or whatever the reasons, they may be also not familiar with it

[coin-investor]

Cryptocurrency hardware wallet manufacturer Ngrave released the initial results of its ongoing crypto security survey on Jan. 13. 2021. READ THE COMPLETE ARTICLE HERE: https://worldpublicityblog.com/index.php/2021/01/16/survey-25-of-crypto-users-not-securing-assets-as-well-as-they-think/

With this survey, we have proved that not all of us are still cannot get an idea of how Cryptocurrency works and how to protect our coins, we are still accustomed to having a third party take care of everything for us, when in fact it's very different here in Cryptocurrency you are on your own and not your keys, not your coins always prevail and should always the concern of everyone.

[sujon5]

It's strange that more that a half respondents keep some crypto on exchanges. Looks like they don't care about the funds.

[wxa7115]

In no case should you leave coins on the exchange for a long time. Many consider the exchange to be a safe place, but this is a mistake. Better to transfer funds to your wallet and use multi-step login and password. And most importantly, tell fewer people about your digital wealth.

Most of the time this is not what happens and there are several reasons for that, the first reason is that people are lazy, they do not want to take the time to get their coins out of the exchange and then get back in it a few days later once they want to make yet another trade, the second reason is the fees, it may seem odd that people worry about the fees specifically those that are trading but you will be surprised how cheap some people can be.

Basically those people choose convenience over security and while they can get away with it for some time sooner or later they will make a mistake and they will lose most of their coins and we know once that happens there is almost nothing we can do to recover them.

[silverston]

Cryptocurrency hardware wallet manufacturer Ngrave released the initial results of its ongoing crypto security survey on Jan. 13. 2021. READ THE COMPLETE ARTICLE HERE: https://worldpublicityblog.com/index.php/2021/01/16/survey-25-of-crypto-users-not-securing-assets-as-well-as-they-think/

There are several well-known rules for the safety and security of your assets. If you have large amounts, be sure to buy a cold wallet (Trezor for example). Put different passwords everywhere. Antivirus is a must, never follow unknown links! Scammers make money from your mistakes.

[Yaunfitda]

Cryptocurrency hardware wallet manufacturer Ngrave released the initial results of its ongoing crypto security survey on Jan. 13. 2021. READ THE COMPLETE ARTICLE HERE: https://worldpublicityblog.com/index.php/2021/01/16/survey-25-of-crypto-users-not-securing-assets-as-well-as-they-think/

There are several well-known rules for the safety and security of your assets. If you have large amounts, be sure to buy a cold wallet (Trezor for example). Put different passwords everywhere. Antivirus is a must, never follow unknown links! Scammers make money from your mistakes.

You mean hardware wallets? Yeah, if you are going to store huge amount of crypto's like BTC and Ethereum and planning to be a long term holder, then this is the number one choice for us. Online and web wallets are also good, but you have to practice a good security hygiene.

There is only one emotion that scammers wants to play with us, that is our greed. So we have to watch out for that us well, if we have a good security practice but we are greedy and easily fall for the to good to be true offers by this criminals then there is a huge chance that we can get still lose our assets to this scammers.

[blockman]

It's strange that more that a half respondents keep some crypto on exchanges. Looks like they don't care about the funds.

It is not strange that many crypto people are storing their assets on exchanges. Many will never learn from the experiences of others that have been a victim of a hack when they've kept it on exchanges, the exchange was hacked.
Not until they are personally the ones who see it happen, they will not learn. It's been a reminder that if you don't have the keys, it's not your bitcoin or any crypto that you store in exchanges.

[bittick]

It's strange that more that a half respondents keep some crypto on exchanges. Looks like they don't care about the funds.

They are thinking about the fees especially for the ERC20 assets and when they wanna store their money to the their personal wallet and it needs a lot of money to pay the transaction fees, that's why they are keeping their funds on their exchange site's account.
I have been asking some people about this and they agreed with this opinion. They didn't wanna waste their money to pay the fees.

[wxa7115]

You mean hardware wallets? Yeah, if you are going to store huge amount of crypto's like BTC and Ethereum and planning to be a long term holder, then this is the number one choice for us. Online and web wallets are also good, but you have to practice a good security hygiene.

There is only one emotion that scammers wants to play with us, that is our greed. So we have to watch out for that us well, if we have a good security practice but we are greedy and easily fall for the to good to be true offers by this criminals then there is a huge chance that we can get still lose our assets to this scammers.

Online wallets make some sense when you want to store a very small amount of money so you can spend it if you happen to find a business that accepts bitcoin and you want to make a purchase, but when it comes to storing most of your coins the minimum that you can do is to at least have a desktop wallet.

I know that is not as practical but it is safer and the safety of our coins should always take priority because as we know if you happen to lose them then you will never get them back, and if you happen to hold large quantities of different coins then hardware wallets are the only safe and sensible choice.

[bitcoincrumble]

And i'm the 75% of them... that's because the process of withdraw & deposit sound a bit complicated and that also incur a withdrawal fee from exchanges....? Please teach me... I'm really not  familiar with wallets. I guess there're also uncertainty on softwallets, so is it better to do it on decentralized softwallet (is there such a thing?) ? Or, a hardwallet but I've gotta make sure I don't forget the password for my lifetime? 

[MCobian]

Possibility 25% of crypto users choose to store on exchanges, or they have never been hacked, so don't want to spend money to buy a hardware
wallet which is quite expensive. So I'm sure 25% of crypto users choose to store in online wallets that are free. It could also be because
the amount of crypto they have is not too large, so buying a hardware wallet is considered unnecessary.

[RabbiTANK]

Till today many newbies are still storing private keys and recovery seeds in email accounts and also cloud storage platforms, this is the only way that the survey can be this correct, if private keys and recovery seeds are offline the survey won't reach 25% and as a matter of fact that is way huge in number, people need to understand that keys to their wallets are more safer offline