Is It Safe To Leave Your Tokens On An Exchange

[Than Than]

A friend of mine once told me that exchanges is the safest place to leave one's tokens because if the exchange is hacked and tokens stolen, those tokens that were stolen will be refunded to their owners by the exchange. So I ask the more experienced ones amongst us to share their experience with exchanges and to share if this claim by my friend is true.

In my opinion it is good to hold assets in different exchange but you must activated different security protection like google authenticator, sms verifier or email. But it is better that you must have hardware wallet for 100% sure safe.
Addtional info if your holding assets in exchange don't store your all assets just put a little so that incase of emergency your some assets will be safe

[bxipp]

If you have a large asset it would not putting all my assets in one exchange. I will spread it out to a lot of exchanges and safe it in my cold wallet the rest. Not all exchanges will paid back if their exchanges get hack. Better be safe then sorry later.

[212]

Depending on the exchange in which you store the crypto assets. Exchanges like OKEX, Binance, and Indodax until now I think it's safe. The most important thing for me is to change the security as 2FA should be enabled. And creating a password necessarily has to be tricky. And store passwords in data that are not online or that are not accessible to others.

[CryptoAddict]

as long the exchange has some reputation has proven by the community. I have tokens on some exchanges now for years without any breach of security and one exchange is coming that will handle this with a different. Do have a look at KoinPro platform: https://www.koinpro.com/r/2QZ3

[gunhell16]

A friend of mine once told me that exchanges is the safest place to leave one's tokens because if the exchange is hacked and tokens stolen, those tokens that were stolen will be refunded to their owners by the exchange. So I ask the more experienced ones amongst us to share their experience with exchanges and to share if this claim by my friend is true.

That depends on the exchange you are going to use, if this is one of the top platforms at the coinmarketcap, I could say anyhow it is safe, but if the exchange is not on top in the market, I guess you need to be very careful of course. I knew this opinion of mine knows by most of the majority of people here in the forum.

[pulpy]

It's ok to keep coins on exchange during short period of time. But not constantly. While it's just on the account, it can make more money. Why it can't be on deposit on gekkoin, not on the exchange? Why it can't be used for staking? Why it can't be used for any other ways?

[Renampun]

it's safe, but you have to be more thorough...
I think the security of this big exchange is pretty strong like Binance, Coinbase, Kucoin and a few more. but if your tokens are in large amounts above $ 4k you should use a personal wallet, to be more vigilant.

[TomPluz]

it's safe, but you have to be more thorough...I think the security of this big exchange is pretty strong like Binance, Coinbase, Kucoin and a few more. but if your tokens are in large amounts above $ 4k you should use a personal wallet, to be more vigilant.

Generally speaking, it all depends on how the management is doing things with the exchange. Like Binance, they had been hacked for millions but the management made it a point not to allow anyone to lose any coins or tokens. Now, we also have to do our own part in making sure that our accounts can't be accessed by anyone unauthorized.

[Michael.sol]

Personally I never give advise to anyone for store our fund on exchanges , but I used binance exchange as a personal wallet from long-time , I didn't suffer from any problem there . Never put your asset on newly launched exchange .

[Jentot]

It is not recommend to store your token on exchange.Basically, exchange is not really meant to be a storage of coin. Even popular exchange is not 100% safe there's still a chance that it will get hacked. There is also complaints where they stored there coins in a exchange and suddenly disappear.

[gunhell16]

A friend of mine once told me that exchanges is the safest place to leave one's tokens because if the exchange is hacked and tokens stolen, those tokens that were stolen will be refunded to their owners by the exchange. So I ask the more experienced ones amongst us to share their experience with exchanges and to share if this claim by my friend is true.

That depend on the records background of the exchange platform. Because in my experience, I've been using Bittrex for a couple of years now and yet I don't see nor encounter any problem using their platform, and so far I had been used also Bibox for 5 months and yet I also don't have a problem too as long as I activate the 2FA to secure my account to prevent hacker.

[edmundo]

That will be one of the greatest mistakes you can ever make in this space. Leaving your Crypto assets on the exchange is likely going to lead to loss in your part since there could be a hack on a exchange leading to loss of assets. I have seen it happened to a friend and I can tell you, it isn't a pleasant experience. Happened to cryptopia and most traders lost fortunes running into several millions of dollars. You should only send a certain amount of asset to an exchange if you want to trade them and withdraw them as soon as you have no need to leave them there.

[Delgado]

It is usually recommended not to leave tokens on the exchange for a long time precisely because of the danger of their being stolen for various reasons. You should not rely on the exchange to recover the losses quickly. The management of the exchange can come up with many reasons why they will not do this.

[Bobcrypto]

I think you can leave your coin on the exchange if you are a trader or you planned to hold a coin on a short term bases. Thought there few exchanges that may refund users their fund on event of a hack, but this could a big risk because such exchange could extremely hack with no remain of users funds; in such senero, any exchange may decide to close down permanently.

[hair]

If you leave the token for a long time, I think it is very dangerous. Better keep it in a private wallet. If only for trading I don't think it is a problem.