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Author Topic: Is it advisable to store tokens on exchange sites?  (Read 1938 times)

Offline CryptoBlast

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Is it advisable to store tokens on exchange sites?
« on: January 13, 2019, 10:56:27 AM »
Due to the high influx of tokens on exchanges sites, hackers are always on the move to attack. This has made exchange sites very susceptible hence making long term storage of tokens on exchanges unsecured.
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Offline Ikkelins

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Re: Is it advisable to store tokens on exchange sites?
« Reply #1 on: January 19, 2019, 10:34:14 PM »
Due to the high influx of tokens on exchanges sites, hackers are always on the move to attack. This has made exchange sites very susceptible hence making long term storage of tokens on exchanges unsecured.
Well it is not really advisable to store cryptocurrencies on exchange sites but sometimes also it feels very uneasy moving cryptocurrencies almost every minute. In the world of crypto you can miss out on some pump due to these things and this is the reason why traders store their funds on exchange platforms.
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Offline Gudha

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Re: Is it advisable to store tokens on exchange sites?
« Reply #2 on: January 24, 2019, 08:26:47 AM »
No and no and no. Never ever do that with high amount or unless you're an active trader. But trying that makes you vulnerable to loses in case of hacks or coin delist.

Offline Ikkelins

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Re: Is it advisable to store tokens on exchange sites?
« Reply #3 on: January 25, 2019, 04:49:11 PM »
No and no and no. Never ever do that with high amount or unless you're an active trader. But trying that makes you vulnerable to loses in case of hacks or coin delist.
This is the problem that i have with most exchange platforms. As active traders we cannot be moving ou funds every now and then that is why it is very important for them to provide an exchange platform that is secured with several security features to prevent any form of hacks
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Offline Delgboke

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Re: Is it advisable to store tokens on exchange sites?
« Reply #4 on: February 07, 2019, 10:32:43 PM »
The people that knows more than what you know advice not to store your coins in exchange for too long to avoid been hacked because it is risky to that so I don't think it is safe instead store it in the wallet.

Offline The Journalist

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Re: Is it advisable to store tokens on exchange sites?
« Reply #5 on: February 08, 2019, 05:11:30 PM »
It is impossible not to store coins on exchanges if you're an active trader. The remedy to that are:
1. Don't store too much coins there
2. Choose a top exchange you believe should be secured to do that with.

 

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