Two Australian exchanges collapsed recently, remember to withdraw your bitcoin

[kanayaTabitha]

Many exchange issues with hacking and I am never trusted with this opinion because they have more safety secure with their exchange site and impossible some exchange could be hack, just an ideas from developer how to make member trusted with their reason but in the fact they stole member money with hacking reason. Better see how assets have by the owner if their exchange hack, will his assets keep increase up or not.

The exchanges security is already highly protected but we know no system is safe because the hackers could be the security person that has more experience and more knowledge about how to hack the system and it will happen.
Exchange's hack is sometimes happen, but there are also the bad guys pretending to be hacked but they took away the money for theirself.
So the best thing that we can do is securing our money by carefully surfing on the internet with our assets.

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[tvplus006]

The exchanges security is already highly protected but we know no system is safe because the hackers could be the security person that has more experience and more knowledge about how to hack the system and it will happen.
Exchange's hack is sometimes happen, but there are also the bad guys pretending to be hacked but they took away the money for theirself.
So the best thing that we can do is securing our money by carefully surfing on the internet with our assets.

It is easier for a hacker to find a vulnerability in a contract and then sell millions of dollars worth of coins than to hack a cryptocurrency exchange. The leading exchanges employ good specialists who ensure smooth operation. Obviously, with their knowledge, they could do the same quality work on hacking exchanges.

[suzanne5223]

Reminder that the bitcoin you hold at exchanges is not yours. Withdraw your bitcoin from exchanges while you still can.

Some people think that their bitcoin is safer at an exchange than in their own custody. As you can see from these recent news, that's not true at all. "Not your keys, not your bitcoin".

Learn how to keep your bitcoin safe in cold storage instead of keeping it in exchanges.

This becomes the real sentiment when we feel that our funds are safe in exchanges as we never know as this situation arrives and they have no time to inform us (depositors) which it has no time to withdraw. We can claim such a refund but can't force them to give it back instantly as the company itself is in a struggle.
If that we use an exchange that is just for a trade, not for holding. Even staking isn't a good idea since it wasn't our control as well but the exchanges.

You would only realize that you are wrong when you are already experiencing problems or you had already bee fucked up with those exchangers which its an inevitable thing since platforms could really neither face off some hacking,bankrupt,regulation issues which would really result into lost of funds and this is why whenever you do make out deposits on an exchange then consider out the risk.
Its never been a good idea on storing up your coins on an exchange but if its just for the intent of trading then be wise
on when to pull it out very often.

Security advice is to never store cryptocurrency on an exchange for a long term but still sound unwell that most cryptocurrency exchange cannot provide adequate security which will prevent online theft from funds on their platform and the last time I checked exchange attacks always happen during the ATH price season which I believe always impact the market price.
Meanwhile, if this issue persists all the insecurity in crypto exchange will make the Fed intervene and it may affect the decentralization of crypto if care is not taken.

[eaLiTy]

~
Some people think that their bitcoin is safer at an exchange than in their own custody. As you can see from these recent news, that's not true at all. "Not your keys, not your bitcoin".

Learn how to keep your bitcoin safe in cold storage instead of keeping it in exchanges.

How many experience does one need to understand that keeping your coins in exchanges are not the safest option in the cryptocurrency space. I know there are people who still holds coins in Tier 1 exchanges but the risk is really high as we have seen the top exchanges getting in trouble and once that happens it is a battle when you will get back your coins.

Only move coins to exchanges if you are planning to take a position, if not it is always safe in your own standalone or hardware wallet.

[Kasabus]

Well sad to say that most centralized exchange now has been being compromised and it is prone to hacking, this reminds us that storing your coins on an exchange is not a good idea. The best thing to do after having trading is just to pull out your coin and transfer it into your non-custodial wallet which is very safe. The good thing to know that these two exchanges let their user withdraw the fund and did not turn into an exit scam which is most shady exchanges did. Do you think is this a sign that traders should use a decentralized exchange?

I guess its always good to use a decentralized exchange since its non accessible by the government but the problem is if it happens that there will be unexpected troubles in the future, you'll find it hard to trace the exchange and withdraw your coins. This is the reason why most of the exchanges we have right now are centralized so that if there will be future problems that will occur, the certain exchange will still have to contact us and inform about the current problem so we are still given chances to withdraw our cryptos. That's the  advantage of having centralized exchanges.

[doomloop]

I know there are people who still holds coins in Tier 1 exchanges but the risk is really high as we have seen the top exchanges getting in trouble and once that happens it is a battle when you will get back your coins.

The reputation of exchanges got nothing to do with the protection of out assets. Hence, whether it will be tier-1 or tier-5, we should always develop the habit of withdrawing our cryptocurrencies immediately after closing the trades. I do see people are developing their own reasons to keep on holding cryptocurrencies within exchanges but at the end of the day they are the only bearer who are going to suffer if anything like hacking happens hence no reason is not going to help anyone.

This is the reason why most of the exchanges we have right now are centralized so that if there will be future problems that will occur, the certain exchange will still have to contact us and inform about the current problem so we are still given chances to withdraw our cryptos.

Why that is not possible with decentralized exchanges? Because, I remember some dex are providing optional registration along with email ids and and other details hence they also may contact if any emergency happens.

[Issa56]

Have been telling lot's of people to stop leaving their coin not only bitcoin, you don't have to leave all your coins in your exchange wallet and from my research I notice that most people that are always leaving there funds on exchange are the newbies. After buying a coin make sure you transfer the coin back to your custodial wallet address and make sure you don't share your private key with anybody or store your private key where anybody can have access to it to avoid hack because for few day's have been receiving complain from my friends that there wallet is been hacked, you have to secure your private key.

[el kaka22]

It is easy to predict that some places will not be as good as imagined, they may collapse, bankrupt, hacked or whatever, even could be just pure old scam and that's it as well and we will not be able to take out our money in most cases. This is crypto, if you are not careful enough and you do not have any legal basis whenever something goes wrong, then you should not keep your money in any of these exchanges. I keep hearing about tens of millions of dollars gone because one exchange collapsed and I never really understand why would people keep their money in those places?

For example, I have ZERO dollars worth money in any exchange right now, not that it is like that all the time, I have some time to time but right now it is zero. I just have a wallet that I send all of my money into and that is all that I need without anything extra, you should try that as well.

[Silberman]

Reminder that the bitcoin you hold at exchanges is not yours. Withdraw your bitcoin from exchanges while you still can.

Some people think that their bitcoin is safer at an exchange than in their own custody. As you can see from these recent news, that's not true at all. "Not your keys, not your bitcoin".

Learn how to keep your bitcoin safe in cold storage instead of keeping it in exchanges.

This becomes the real sentiment when we feel that our funds are safe in exchanges as we never know as this situation arrives and they have no time to inform us (depositors) which it has no time to withdraw. We can claim such a refund but can't force them to give it back instantly as the company itself is in a struggle.
If that we use an exchange that is just for a trade, not for holding. Even staking isn't a good idea since it wasn't our control as well but the exchanges.

You would only realize that you are wrong when you are already experiencing problems or you had already bee fucked up with those exchangers which its an inevitable thing since platforms could really neither face off some hacking,bankrupt,regulation issues which would really result into lost of funds and this is why whenever you do make out deposits on an exchange then consider out the risk.
Its never been a good idea on storing up your coins on an exchange but if its just for the intent of trading then be wise
on when to pull it out very often.

Agreed, only those that are full-time traders should consider leaving their coins in an exchange for a long time, after all traders do not really have too much of a choice, but someone that is mostly an investor or just an occasional user of cryptocurrencies must always have their coins in a wallet they control in an exclusive way, I know that some people think this is a pain, but since it is impossible to know when an exchange can be hacked or implement KYC policies then it is better to avoid them whenever possible.

[Sihab76]

Many exchange issues with hacking and I am never trusted with this opinion because they have more safety secure with their exchange site and impossible some exchange could be hack, just an ideas from developer how to make member trusted with their reason but in the fact they stole member money with hacking reason. Better see how assets have by the owner if their exchange hack, will his assets keep increase up or not.

You are 100% right because the security arrangements of an exchange are the responsibility of the authority of that exchange. But how can an exchange's security system become the focus and be hacked. This is just an idea because the authorities blame the hacking by killing people's money.