Quote from: vaynkayde on Today at 10:12:45 AM

Quote from: AmoreJaz on August 06, 2024, 10:30:20 PM

Quote from: Stalker22 on August 06, 2024, 08:28:27 PM

When it comes to crypto exchanges, theres always some risk involved, no matter the size. How much risk you wanna take on depends on your personal preference. For me, I tend to stick to the bigger more established exchanges that have been around for a while. Yeah, some of the smaller ones might offer fancy bonuses or whatever to get you to sign up. but you gotta wonder if they really have the infrastructure and track record to keep your funds safe.

As for those crypto giveaway things or earn free altcoins promos, Id be real suspicious of those. Some shady exchanges try to reel you in with the promise of easy money, when really they just want you to deposit funds so they can take the money and run. So yeah if something sounds too good to be true, it always pays to do your homework and make sure an exchange is legit before sending them anything.

Even reputable exchanges can be a victim of hacking, hence, you should always secure your funds and transfer it to your own wallet whenever you have no more transactions with them. It is understandable if you are still actively trading, however, when you finished it, better secure your funds and transfer it as soon as possible. Sophisticated hacking tools are always at disposal of these fraudsters.

Is a platform that uses cold vault reliable in this regard?

Any platform that deals with large sums of other people's cryptos should use some form of cold storage. I think it is a basic security measure. However, "cold vault" is a broad term. The reliability depends on how it is implemented. For instance, is it truly offline? How are the keys managed? What security protocols are in place? These details matter. So, it is not a guarantee of security.