How safe is exchange?

[bdsharminsoltana]

Hi,

Every exchange adding a new btc, eth, token address on the exchange website.
I think they need some private key to set the transaction on this websites.

So is this private key stored in a normal database?
And is this safe?

[pelana vreo]

I see some people save Bitcoin and Altcoin assets in exchange wallet, this is very dangerous because you don't have a private key from the wallet that you have, we know how centralized exchange works. Centralized exchange is controlled by institutions and in contrast to decentralized exchanges. Centralized exchange using the Hot Wallet type
more informastion pls visit :
https://www.quora.com/Should-I-keep-my-Bitcoin-on-an-exchange-or-in-a-wallet
https://www.worldcryptoindex.com/storing-cryptocurrency-on-an-exchange-wallet/

[wokee12]

Yes they using private key but only for withdraw service, and they don't need to manage so much private key for user. If the privatekey stolen, is their admin fault

[abc123]

I think this is dangerous save your bitcoin and altcoins in exchanges.I prefer to hardware wallets.ledger nano s, trezor are best hardware wallets to store your crypto currencies.

[Pluto25]

No exchange are safe and secure 100% because you heard about binance,polyniex, Kucoin, etherdelta, cruptopia hacked news. So how can a exchange safe and secure?

[Altcoin1998$]

No exchange are safe and secure 100% because you heard about binance,polyniex, Kucoin, etherdelta, cruptopia hacked news. So how can a exchange safe and secure?

Another sad news origin protocol and DAI DeFI already hacked.