Re: Reminder for new members NOT to keep money on a Exchange.
Never use any exchange's wallet for storing your crypto unless you have the intention to sell those coin in very short term or you are an day trader because you are not controlling the private keys so if the exchange gets jacked then all the fund will be gone.Even if you have 2 factor authentication on it still can't resist the exchange from hacked.In case if your exchange got hacked you need to follow their announcement on social media because they might give some refunds as well.
Thanks for rephrasing the above 4 replies into one...
For some reason people still love storing their investments on exchanges. Is the convenience on being able to exchange your coins/tokens immediately really worth the risk? Not in my opinion.
I actually think the average internet user's security is much, much worse than that of the top exchanges. Keeping the naivity of most users in mind, i'm starting to wonder if it really matters that much security wise, as an average joe.Ofcourse it goes against all fundamentals of which bitcoin was once created on, but that's not really the argument i'm making here.