Post
Topic
Board Bitcoin Discussion
Re: Trading Platforms: Are They Safe?
by
Aveatrex
on 19/02/2018, 21:44:45 UTC
Trading Platforms: Are They Safe? Huh
A number of trading platforms have technical failures, insufficient security protection, easy hacking, or weak systems that fail to meet their obligations to users. These failures make them an easy prey for hackers, especially for denial of service (DDoS) attacks. This type of hacking aims to temporarily drop the site, by overloading the site's servers with many orders in a limited time.
More secure is to save all your assets from encrypted currencies in local or hardware, not to leave them on a trading platform that controls them. In the event of any piracy on this platform, your assets can not be harmed if you have a personal system.
"A final order on the level of platform security, users should be sure that there is: binary authentication, and ensure that domain domain is stored in their bookmark, to avoid any impersonation attempts."  Huh
Never keep your coins inside an exchange that's a general rule.You don't own the coins when you have them inside the exchange.
And nowadays DDoS attacks are not that effective especially on popular exchanges because these latter use protections against it.
What I actually fear from exchanges is the "KYC-Know your customer" and stuff like this,exchanges are centralised which makes them killing the concept of cryptocurrency