Post
Topic
Board Altcoin Discussion
Re: Care of security and don't store your coins on exchanges!
by
coin-investor
on 28/05/2019, 23:02:05 UTC
If you want to increase easily the security of your coins you can do it by a simple step. Just withdraw your coins from the exchange to a personal safe wallet where you have the private keys. In case if the exchange gets hacked your funds are safu. Never store more in exchanges than you actually need for buying other coins.
A crypto hack can also happen to big exchanges, like it happended to Cryptopia, a big exchange from new zealand where huge amounts of crypto funds were stolen from people that had their coins stored on the exchange when the hack happend. All users that had withdrawn the fund before were safe because they stored their coins in their own wallets.
Even big exchanges are no guarantee that they can't be hacked, so better be safe and store your coins yourself.

Storing your coins safely will prevent your coins from getting hacked and you won't lose your crypto by exchange hacks.  Smiley



You can edit your post and add Binance they are the latest exchange that's been hacked and the hacker got away with 7000 worth of Bitcoin, but compare to other exchanges, they handled it really good, but you are absolutely right exchanges should not be your option when storing your coins.