Are your coins really safe stored in your wallet?

[Emitdama]

My all the crypto coin was in the trust wallets.Because it had many supported coins and it was a unique wallet from long.No one can access your wallet ,without your private ket.Actually I was speaking about the wallet and not about the exchange.While coming to exchange,my first option will be FTX,then Binance,WAZIRX,KuCoin.Because this exchange was trusted from long.

As far as I know trustwallet and binance have a history of hacked but I don't know about the others on your list, maybe some of them have been hacked too? Let's only hope that their security have improved now. I too use trustwallet but I don't store all my cryptos here just in case something bad happens to this wallet I still have cryptos left on other wallets.

Nothing is safe, whether in real life or on the digital world both are possible for our money to get robbed but I think there are companies that offer refunds, like on some banks and some centralized exchanges. This is one of their advantage when we keep our money with them.

[taufik123]

As far as I know trustwallet and binance have a history of hacked but I don't know about the others on your list, maybe some of them have been hacked too? Let's only hope that their security have improved now. I too use trustwallet but I don't store all my cryptos here just in case something bad happens to this wallet I still have cryptos left on other wallets.

Nothing is safe, whether in real life or on the digital world both are possible for our money to get robbed but I think there are companies that offer refunds, like on some banks and some centralized exchanges. This is one of their advantage when we keep our money with them.

Trustwallet and Binance have certainly stepped up their security, as they learned from past mistakes that made their security vulnerable to hackers.

nothing is safe in this world. it all also depends on how you store it, because if the system you use has the maximum possible security, but the user is too careless, it will be very easy to hack. Social Engineer is a method that is also widely used by scammers to manipulate users' minds so that they can find loopholes to hack.

The best and quite safe wallet in my opinion is a hardware wallet which has double security because it requires several verifications to be done before making a transaction. For example, hardware wallets such as Ledger, Trezor, ImKey, Safepal etc.

[bitcrystal]

the answer is to the degree of how well you can keep your wallet keys or phrases. nothing is hidden in the bank because they have access to everything you have with the. this is not so with bitcoin such that only if your wallet address is exposed thats when people can see what you have as balance and yet they cant do anything without your keys.

[retreat]

First of all note that your bitcoin is not stored in your wallet. Your coins are stored in the blockchain.
The blokchain is shared between many people and there are thousands of full nodes that validate transactions. In bitcoin we are not dealing with a centralized party.

Your wallet only stores your keys and you use them for making transactions. As long as these keys are kept safe, no one can have access to your bitcoin.

thank you for your answer, my knowledge of bitcoin is increasing. all this time I thought that the Bitcoin I had was stored in my wallet but it turned out I was wrong, turns out it's stored on the blockchain.

[haasanjui]

My coins are safe in my wallet because my wallet provide me good security and secure transactions when ever any one login in my wallet or make transaction my wallet ask security code which only I know. If he not enter code then transaction will be cancelled.

[ven7net]

I had recently been thinking about how really safe bitcoins or/and other alt coins are when stored in your wallet.
With fiat currency, financial institutions; mostly banks go all out with the notion that their institutions are safe and their vaults are top notch yet they still fall prey to bank robbers who would cart away valuables from the vault.
How safe then are the wallets used in storing coins? And if they could at any time and in any way be compromised hence losing your bitcoins

This is indeed a very good, important and relevant question, since you really don’t want to suddenly lose your crypto assets. Previously, I thought that, in principle, storing your cryptocurrencies on different crypto wallets is safe, unless of course you yourself foolishly transfer your data to scammers. But recently, news began to come in about random hacks of various crypto systems, which indicates problems with the storage of cryptocurrencies. Of course, this information may not be true, but whatever it is, you need to pay attention to it. At the moment, I have no problems storing my cryptocurrencies on different crypto wallets, because to some extent I try not to store a lot, but even those funds that are currently safe. What will happen next, I think time will tell.

[NicNacCoin]

I kept the private key in my wallet very carefully. There are many people whose private keys have been hacked.In fact, we are responsible for being hacked. If we are a little careful but our private key will not be hacked our wallet will be completely saved.I have seen many accounts being hacked only because of their negligence.We will work with the utmost care to ensure that our wallets are less likely to be hacked.

[sulendra12]

How safe then are the wallets used in storing coins? And if they could at any time and in any way be compromised hence losing your bitcoins

If you are using some offline wallet or hardware wallet then the amount of security depends on how you manage them by yourself. If you click some weird stuff on internet and yeah you are vulnerability to any malicious attacks on the internet, it just depends on how you browse the internet, it may very between users. But, if you are storing your money on exchanges and then it depends on how well they manage their security.