Post
Topic
Board Beginners & Help
Re: Crypto Exchanges
by
Fivestar4everMVP
on 30/06/2022, 19:47:54 UTC
"Crypto Exchanges are more likely to be compromised, so please put some of your assignments into a wallet right now. Withdrawals will largely stop until the market is stable."

Do you agree or disagree with above statement..
Well, leaving you crypto assets on an exchange, whether centralized or decentralized exchanges has never been a good practice, this is why it has always advised to withdraw funds that you are not using immediately out of exchanges into your non custodial wallet(this is a wallet which you , the user have access to, and controls the keys).
Like I said in on one of my previous comment on a post, Exchanges, mostly centralized exchanges are the number one targets when it comes to hackers hacking exchanges, it is no longer news that even top exchanges, in terms of security and other facts, like Binance, have one time been hacked with millions of dollars stolen in users assets plus KYC documents, (though Binance did refund all users fund), this and all are pointers to the fact that we all should never user exchanges as a means of storing our crypto assets, make use of non custodial wallets where you yourself is your own security.