Is It Safe To Leave Your Tokens On An Exchange

[monig18]

It is not safe to keep tokens in an Exchange.Because in past many exchanges hacked namely cryptopia and world famous Binance. Only keep those coins which you use for trading in exchanges.Remaining you can store in online or offline wallets which are so safe than exchanges.

[yashwant]

Many token holders worry that tokens should be kept safe. As such, the exchange is a safe place for token stores.
But if your account is hacked, then it will be yours. Therefore, avoid referring your privacy to anyone, there will be no exchange responsibility.

[Amir77]

It is true that they are obligated to pay back the damages but that would still mean they have to deal with the loss. They can't pay everyone back, especially after a breach. Keep your tokens on a wallet. If you do plan on selling, only place the amount you are willing to let go in case of an attack. Trade as little as possible. Never go all in.

[Sammy9ce]

It really depends on the exchange and I'll say is a high risk for you to take
 What if the actual amount that was stolen is very high and can't be refund? I bet you won't kill anyone, so it is better to move your tokens to your personal wallet to avoid loss. Prevention is always better than cure.

[mohdelayo]

Only centralized exchanges that are fully regulated with a strong insurance policy will guarantee the security of your assets. But even with that, i will only recommend holding assets in a exchange only for a short term but when its a long term hold, you know what they mean when they say ”not your key not your crypto”? Well that's the picture i gat.

[tsakf]

Many token holders worry that tokens should be kept safe. As such, the exchange is a safe place for token stores.
But if your account is hacked, then it will be yours. Therefore, avoid referring your privacy to anyone, there will be no exchange responsibility.

We leave many things to others, this is not good. An analogy, is leaving your health to doctors or medicine. Doctors and medicine, are for HEALING, not preserving health. To preserve health, that you will not need a doctor, it is YOUR responsibility. The same for preserving your tokens, it is YOUR responsibility.

[sacrotic]

I agree with this opinion but we should replace it into exchange with good reputation and have great safety method, the recommendation is Binance and our local exchange not the new one. Reduce risk to get income, choose safe place for activity and doing research for potential coin with realistic target is what we do daily. Don't forget about our healthy and take care our stuff ( laptop ), both have good condition we can run fast than before.

[piqulhdt28]

I don't think it's too safe to store coins on exchanges, because there are many cases of exchangers being hacked and experiencing losses because of these hacks.

it's better to save it in a personal wallet to avoid things that we don't want, because it will be much safer than storing in an exchanges.

[bitbit97]

Everywhere where the rule "not your key, not your bitcoin" applies is not the safe place to hold cryptocurrency. Everything has a price, everyone has a price, every security is not ideal. With enough effort, time and resources, everything can be hacked.

[Freemind]

Everywhere where the rule "not your key, not your bitcoin" applies is not the safe place to hold cryptocurrency. Everything has a price, everyone has a price, every security is not ideal. With enough effort, time and resources, everything can be hacked.

This is why I have never left my funds on any exchange and have been saying the same thing to people who ask me about this for years. The oldest example is Mt.Gox, which left hundreds of users without their funds, the most recent cases have been Cryptopia and even Binance, in addition to other lesser known exchanges.

[monig18]

I don't think it's right to have long-term holding on any exchange.Any exchange, no matter how good, is not secure.Big exchanges have been hacked in the past.All we have to do is keep the trading fund in exchanges. The rest of the money we have to keep in a wallet.

[Callisto]

It depends on what amount you are talking about, but my answer is that you should definitely not leave your tokens on the bmr for a long time, because even the most famous exchanges hack, even with two-factor authentication, although I do not understand how this is possible.
It is better to keep your coins in cold wallets, this is the most proven and safest way.

[babu10]

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.

Actually at present time hackers are very strong and they always try to hack exchange account to catch money so we should not think exchange is the safest house for our coins or tokens. Here what your friend says is 1 or 2 top listed exchange may done but maximum would not pay and just clause will be hacked. So i think hardware wallet is the best house to keep my tokens always.

[sneakyboi]

In my opinion, yes if you're confident that the said exchange has a good reputation and security. Like binance. and I think it more safe if you bring your own hard wallet (trezor etc).

[Freemind]

In my opinion, yes if you're confident that the said exchange has a good reputation and security. Like binance. and I think it more safe if you bring your own hard wallet (trezor etc).

I do not agree with you. May 7, 2019 is a day that will go down in cryptocurrency history due to the hack that Binance suffered. The attackers stole 7,000 Bitcoins, (now $253,458,049) that logically could not be recovered. The worst thing about the attack was not just the theft, it was CZ's (Binance CEO) idea to get them back, he wanted to roll back the Bitcoin network, the community logically told him no. There is no 100% secure exchange, none of them.