We all have heard about the hacks on many exchanges with millions
of dollars being lost. Despite this many exchanges still haven't improved their security.
ICOratings.com published a list of exchanges according to their security score.
- Coinbase pro has scored the highest with 89/100
- Okcoin.cn is placed at the bottom with a score of 15/100.
Cryptocurrency has changed significantly since the inception of Bitcoin, but the number of
security breaches on exchanges remains unaltered.
https://news.bitcoin.com/54-of-cryptocurrency-exchanges-have-security-holes/Which is the reason why we should not put all of our money on exchanges. It is best if we store our coins in private wallet rather than on exchanges and use them to exchange the coins only when needed. It might be a turn down for traders but then if we store our coins on different trusted exchanges, chances are that we will be safe to trade. This is the reason why experts say that don't put huge amount of money on exchanges for a long time.