Is It Safe To Leave Your Tokens On An Exchange

[Ten Ryuu]

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

It is always a bad thing to let others to hold your money for you.  Exchanges can be hacked, bankrupt, or worst a scam.  It is a rule in cryptocurrency to keep your coins and token to an address where you have an access to private key.  Unless you are trying to trade / trading, or buying coins, never leave you funds in an exchange for a very long time.  In short, don't make exchanges as your safety deposit bank.

[EAA-ALLAH]

OKEx and Binance exchange are very much suitable and secure to reserve your fund for long term periods.

[Joyjoyce0]

This mistake have cost me a lot of dollars. Many exchanges have exited scam with my funds, the latest of them been cryptopia. It is not save to leave your long term holding on exchanges, only leave the funds you are trading with on exchange.

[tinakoya]

It is never safe to leave your funds in an exchange wallet unless you are trading it, not all exchanges will refund your stolen fund though. Kucoin was recently hacked and some are still waiting for their funds as i've heard.

[Dora Walletinvestor]

I agree with the posters above me, this is horrible advice. Don't leave your cryptos on any exchange, always transfer them to a wallet.

[theflashbutchill]

Idrk, some exchanges are reliable, like Binance for example, but there is always that little hint of fear, like what if it's hacked or leaked. I started on Binance like a lot of people I presume, but after some time with all these hacks I grew more and more paranoid, so I turned to non-custodial exchanges, like ChangeNOW, no registration, no accounts and no fear of hacking 

[yemight62]

I think you can store your asset in exchange if you are not planning to hold for a Long time. But it you plan to hold for a long time,  you can just use your personal wallet where you can easily access your private keys and your assets as well.  You are right that most exchange usually refund users asset but it usually take long process and time as well.

[Quantum X]

In my personal experience I can say that it is safe to put your crypto in an exchange but my fund is not big. Therefore I would advice to don't put your fund if you have much and your plan is hodling it for long term. Better to put it in a hardware wallet.

[CryptoCorner]

In my opinion that you take off your tokens within the short time, at that point it'll affirm unless you need to take off for a long time like for case, more than three a long time or long term. Also it depends on the trade itself, how that trade can provide security to their member, so we do not need to anxious to urge hacked. I believe any leading exchnge like,binance, hitbtc,probit,bittrex,etc still not safe because online  and It is necessary to activate high security for account to avoid risk of hacking.

[tsakf]

Idrk, some exchanges are reliable, like Binance for example, but there is always that little hint of fear, like what if it's hacked or leaked. I started on Binance like a lot of people I presume, but after some time with all these hacks I grew more and more paranoid, so I turned to non-custodial exchanges, like ChangeNOW, no registration, no accounts and no fear of hacking 

Yes. non-custodial exchanges, are the only exchanges I use. I have control, of my tokens. Some higher fees, for this privilege, is welcome.

[Freemind]

No, it is not safe. And no matter what those responsible for the exchange say, the budget that is spent on security, any exchange is susceptible to being hacked. Even Binance, which for many is the best exchange of all. For new users of the world of cryptocurrencies I leave a link so that they understand: https://www.bloomberg.com/news/articles/2019-05-08/crypto-exchange-giant-binance-reports-a-hack-of-7-000-bitcoin

As has always been said: Not your keys, not your coins.

[monig18]

No ,it is not totally safe to keep coins in exchanges. Best place of keeping crypto are wallets .These could be hard wallets or online wallets. For these wallets you must have seed words or private key and never share this to anyone .Also do not store these keys in online places. Writing in notebook is the best method .Use exchange only for trading or short term holding. For long term exchanges are not suitable.

[Tinsda]

I understand your frustration. It is hard to lose hard earned money but I do not see much wrong from Kucoin's side. If there are anyone to blame then it's you bud.

Try your best if you can convince them. If not then take this as a lesson. Never leave your asset in an exchange unless you are trading regularly. Your keys, your coins.

By the way, I do not think it is a scam accusation topic. It better needs to move to any discussion board.

[msz900]

I understand your frustration. It is hard to lose hard earned money but I do not see much wrong from Kucoin's side. If there are anyone to blame then it's you bud.

Try your best if you can convince them. If not then take this as a lesson. Never leave your asset in an exchange unless you are trading regularly. Your keys, your coins.

By the way, I do not think it is a scam accusation topic. It better needs to move to any discussion board.

When you involved into the crypto world then you have to keep in mind that you have to control on your emotions, look for the legit resources and stay away from unverified/fake/scamy behavioural news/coins.

[tsakf]

As it is mentioned, in other posts, your coins, are yours, only if you have the seed, or private keys, of your wallet. If you don't have them, you don;t own the coins.