Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: Brandon on June 12, 2019, 09:32:20 PM
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Do you guys think Crypto Exchanges are a secure way to exchange your coin?
Because I feel these exchanges could be hacked. They charge a high fee which is between 0.25% to 3 %. They provide no privacy on your transactions.
So the question is:
Which is the best way to exchange coins in which where we don't have to pay high fees and we can get security and privacy?
Please share your thoughts on it?
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There are no exchanges that can guarantee security 100% in the world. It is the fact and unavoidable, all crypto users must know about it.
Anyway, those exchanges should try their best to secure their members' assets but in the digital world, you cannot hope 100% secure for your assets. Regarding the fees, since there are a lot of exchanges, you can choose which one that is fit with your expectation, including the amount of fees.
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If we want to exchange our coins, we have to look for exchanges that have been accredited, and it has been acknowledged by many that the exchange is a safe exchange. Even though it is true that there is no exchange that can guarantee 100% of the security of our assets, at least we do not choose a new and proven security. Whereas to find out which exchange uses a small fee, we must ask our friends to find information to get what we expect.
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We cannot guarantee that all crypto exchanges are secure enough. Because we know that the existence of the hackers are very influencing and they are smart enough to see some holes and chances to hack the system and programs of the exchanges. It may be very dagerous. However, let's believe in the exchange that we are involved in that they have tried their best way to avoid hackers and be secured.
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Exchange cryptocurrency with FIAT should be exchanged in centralized Exchange such as in Binance, Bittrex and KuCoin.
For privacy, it is very difficult to avoid because when registering in a centralized exchange, you definitely have to use KYC, in which there is your personal data.
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The centralized exchange has rules for attracting large amounts of coins, if you make transactions under 5 BTC I don't think you need to do KYC, there are many centralized exchanges that you can choose from, but I can't guarantee everything is safe, Good Exchange like Binance can still be hacked
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Do you guys think Crypto Exchanges are a secure way to exchange your coin?
Because I feel these exchanges could be hacked. They charge a high fee which is between 0.25% to 3 %. They provide no privacy on your transactions.
So the question is:
Which is the best way to exchange coins in which where we don't have to pay high fees and we can get security and privacy?
Please share your thoughts on it?
Actually there is no such thing with no risk. Using exchange has to be with it since most has KYC process, and I think there.is no problem with that cause I think its okay as long as the exchange is worth it like major ones like Binance, Kucoin and many big exchangers. Security threat isnt that high but you know sometime incident of hacking is inevitable if the exchange made some lacks on preserving high secruity.
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yea, like other folks said, exchange had also a holes. Many people is doing different tricks to hack and fraud other people. also there are exchanges that look legit , but actually a phishing website.
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I don't think so its 100% safe but we have no choice we have to use exchanges if we want to sell our coins. I transfer my coins to exchanges only when I want to sell otherwise I save my coins in Hardware wallet(Trezor). In the recent time binance also hacked so I feel no exchange is safe. Still I have trust on bittrex it is quite secured than other exchanges. Transaction fee you have to pay every time when you transact even you can check manually which exchange is taking less fee.
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Well let's consider it like this. Bitfinex is one of the best and oldest exchanges. However even it did get hacked, also Binance got hacked 1 month ago. Considering hackers, we cannot be sure what will happen, the important thing is that if the exchange has the fund to pay back their customers.
I find bitstamp and bitfinex and idex the most secure ones and use them.
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There are no exchanges that can guarantee security 100% in the world. It is the fact and unavoidable, all crypto users must know about it.
Anyway, those exchanges should try their best to secure their members' assets but in the digital world, you cannot hope 100% secure for your assets. Regarding the fees, since there are a lot of exchanges, you can choose which one that is fit with your expectation, including the amount of fees.
You right very well I appreciate your participation this topic. But do think security is the main concern for crypto users? Because all the well know exchanges get hacked in past and not just once. So, how do you think about this issue? and the 2nd thing I would like to ask exchanges is centralized so transactions are not private. So in the light of these issues don't you think "atomic swap" is a better solution? what do you think if we can exchange coins with privacy, security and without fees isn't it a better way of exchanging?
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If we want to exchange our coins, we have to look for exchanges that have been accredited, and it has been acknowledged by many that the exchange is a safe exchange. Even though it is true that there is no exchange that can guarantee 100% of the security of our assets, at least we do not choose a new and proven security. Whereas to find out which exchange uses a small fee, we must ask our friends to find information to get what we expect.
Well, security is a real concern because you know the exchanges known as the most safer exchanges already hacked. Like Hackers stole more than 7,000 bitcoin from crypto exchange Binance. This is not only one, but there are also many exchanges with this same problem. So, the question is why "Atomic swaps" is not better than exchanges because with this process we don't have to pay heavy fees, we will get privacy which is rare on exchanges we can get more security. So what do you think about this solution ?
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If we want to exchange our coins, we have to look for exchanges that have been accredited, and it has been acknowledged by many that the exchange is a safe exchange. Even though it is true that there is no exchange that can guarantee 100% of the security of our assets, at least we do not choose a new and proven security. Whereas to find out which exchange uses a small fee, we must ask our friends to find information to get what we expect.
Well, security is a real concern because you know the exchanges known as the most safer exchanges already hacked. Like Hackers stole more than 7,000 bitcoin from crypto exchange Binance. This is not only one, but there are also many exchanges with this same problem. So, the question is why "Atomic swaps" is not better than exchanges because with this process we don't have to pay heavy fees, we will get privacy which is rare on exchanges we can get more security. So what do you think about this solution ?
This rule is made to avoid fraud.
I think we can choose DEX exchanges, but we can see the difference between these two exchanges, dex, and centralized exchanges, high trading volumes will be in a centralized exchange, and if privacy is a problem, we can see whether ICO and IEO do not require KYC -AML.
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for me it's also safe, if you can do it in a good way, I'm sure it will also be safe, because I myself am also very safe to do everything, both in terms of investment and transactions and in my own trade. also safe.
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Do you guys think Crypto Exchanges are a secure way to exchange your coin?
Because I feel these exchanges could be hacked. They charge a high fee which is between 0.25% to 3 %. They provide no privacy on your transactions.
So the question is:
Which is the best way to exchange coins in which where we don't have to pay high fees and we can get security and privacy?
Please share your thoughts on it?
In my own opinion, No such thing as completely safe in the world of internet, All is subjected to flaws and vulnerability but it can be prevented if the security system of any platform was updated and inhance regularly.
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I don't think so its 100% safe but we have no choice we have to use exchanges if we want to sell our coins. I transfer my coins to exchanges only when I want to sell otherwise I save my coins in Hardware wallet(Trezor). In the recent time binance also hacked so I feel no exchange is safe. Still I have trust on bittrex it is quite secured than other exchanges. Transaction fee you have to pay every time when you transact even you can check manually which exchange is taking less fee.
Well, you explain very well and appreciate you participate in this thread. Exchanges have a lot of problems include security, privacy, heavy fees, etc . so basically they are like a middle man. In 'atomic swaps' we can exchange our coins through our wallets directly which is a secure and more private way of exchanging, I just want to know your opinion on this what do you think which is a better way of exchanging 'atomic swaps' or Crypto exchanges?
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So the question is:
Which is the best way to exchange coins in which where we don't have to pay high fees and we can get security and privacy?
Please share your thoughts on it?
I like to be secure, look what happened with HitBTC, which is a centralized exchange with a trading volume of around 40,000 BTC. Some traders have got a message “Withdrawals are temporarily disabled for this account”. When trying to withdraw their BTC,
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Crypto exchanges cannot be fully 100% secured. There must be flaws in one way or the other, that is why it is been adviced not to leave your coins in the exchange platform. The crypto exchange is the most secured and well used place for different crypto exchange, except the direct contact exchange.
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Its difficult to guarantee safety and privacy at the exchanges as most of them have different levels of security while some are top notch, others are mediocre in terms of security
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why not, I think the crypto exchange for me is also good and safe even though it has been used for years for me still safe with my assets in it. because I myself am not worried and believe that krypto prices always experience good growth going forward
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It is no news again that cypto exchanges can be hacked. Several crypto exchanges have been hacked in recent times even the so-called Binance was hacked, it means exchanges are not totally secure though they are doing their best to protect their customers but we must be consciuos of the fact that exchanges can be hack.
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Meanwhile, I think crypto exchanges is the worst way of exchanging because they could hack as we can see past hacking attacks on exchanges and many time ppl lost their millions of dollars due to these exchanges. I think the atomic swap is this best alternative to this problem because in this way you can exchange your coins directly from your wallets. Some cryptonote coins are already working on this. You check more details about it on the internet and which coins are working on this.
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Yes I think many cryptocurrencies exchanges having extra security, binance, okex, kucoin, trade-io, gate.io, houbi, DigiFinex, Coinbene, BitForex, idax and others some decentralized exchanges.
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if I think for me it is also safe for us to use it for profit, because for me krypto is also very positive and also the most popular, so I think kryptocurenccy will also develop more in the long run, because now many are using krypto as an investment in long-term.
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Technically, DEXes are secured. They're much safer than any CEX out there. Truth is there were a lot of hacks relating to CEXes in the past. Even Binance - the world's most reliable CEX still got hack a couple of weeks ago. Meanwhile, there's was no hack relating to DEXes according to my knowledge. The launch of Binance DEX may be the lead for DEXes in the time to come. I have a feeling that traders will move to DEXes eventually.
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No exchange is completely safe. In comparison with CEX, DEX unequivocally wins. But so far few DEX are popular among traders, very few. Although, I think the popularity of DEX is a matter of time.
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everything related to money cannot be trusted to anyone
I use the exchange for the exchange of tokens and then immediately withdraw everything from there
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I think in the crypto world for me it is also safe for us to make a profit, even in the next few years, because I also believe that the development of the crypto currency is getting better every day.
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Well, to me cryptocurrency exchanges are secure, but also not all of them. The key is to choose wisely and find some trustworthy exchange. I really like CoinDeal (https://coindeal.com) and I can honestly recommend it. CoinDeal has a lot of security practices, you can read more on its website, but I consider it as one of the most safe cryptocurrency exchanges of all
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No exchange is completely safe. In comparison with CEX, DEX unequivocally wins. But so far few DEX are popular among traders, very few. Although, I think the popularity of DEX is a matter of time.
I agree with you, DEX is probably safer, but trading volumes are still inferior to trading volumes on CEX, so they are not so popular among traders, but I think that it is only a matter of time and in the near future DEX will become more popular.
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Do you guys think Crypto Exchanges are a secure way to exchange your coin?
Because I feel these exchanges could be hacked. They charge a high fee which is between 0.25% to 3 %. They provide no privacy on your transactions.
So the question is:
Which is the best way to exchange coins in which where we don't have to pay high fees and we can get security and privacy?
Please share your thoughts on it?
well All exchanges are not safe for one reason that they are the one who control your assets but we cant avoid using then so the level of safety is vary from one to another, so far each has its own dilemma.
for me i use Binance and bittrex and i see them the best two options.
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Basically, I think all exchanges are safe because the team of the exchanges should make proper security. But hackers always know how to steal people's assets. It seems like unavoidable, but the chance to be hacked will be less if the holders keep their assets with safe ways.
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The exchanges is for trading, not for storing cryptocurrencies.
And I don't think they are secure. I lost tokens from EtherDelta and never give private key to any exchange.
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There are no exchanges that will be 100% protected. Everything can be hacked is just a matter of time. Also, stockholders can get lost with your money at any moment because these exchanges are centralized and, most importantly, they do not bear any responsibility. When you bring the money to the stock exchange you must understand that by the time they are on the stock exchange then they belong to the stock exchange and not to you. If you do not trade actively then I advise you to hold your assets on cold wallets
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yes I think the krypto trade is also good and safe we use to get benefits, because I believe and I have also proven that a lot of investments and transactions in krypto are also good and safe
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Exchanges in cryptocurrency are not always secure, but in order to reduce the risk of hacking, it is better to use popular crypto exchangers, such as Binance
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Do you guys think Crypto Exchanges are a secure way to exchange your coin?
Because I feel these exchanges could be hacked. They charge a high fee which is between 0.25% to 3 %. They provide no privacy on your transactions.
So the question is:
Which is the best way to exchange coins in which where we don't have to pay high fees and we can get security and privacy?
Please share your thoughts on it?
In my experience mate, I used Kucoin , binance and crex24 so far I didn't complain with regards their transaction fee as long as I comfortable to used and at the same time my assets were in safe and secure from those hackers. Only etherdelta has a quite a high transaction which you always spend a gas in every deposit and withdraw your coin or token.
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It depends on the exchange capability sometimes security is base on how the exchange was equipped and maintained since all systems in the internet has vulnerabilities and theres no such thing as 100% safe thats why the team's vigilant approach will help a lot.
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I don't know where we can exchange our coins in the safest and cheapest way. Because in my opinion Cryptocurrency exchanges are the only best way even if it's expensive, so we can get money from Cryptocurrency coins. What we need to be aware of is, in which exchange we have to exchange our coins. Those are well-known exchanges such as Binance, Indodax, HitBTc and others, I think it's safe. The exchange problem can be hacked, of course it can because this is an Online system, if you want to be safer than hackers then we don't have to try playing Cryptocurrency. Have money, just keep it at home or bank, I think it's safe and won't be hacked.
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Nope, every hacker has its own technique to hack a certain site, including crypto exchanges, there are different exchanges has been hacked before, and a many hackers got a large amount of money and cost a million lost to both the site and the user of it, the only thing the sites needed to do is always update their site and always be update and add more feature of cyber security.
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I use exchanges only when I'm actually going to exchange my coins and do not leave my coins on exchanges. They are prone to hacking and there is no point leaving your coins on exchange
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Nope, no matter how big the exchanges is, you can not guarantee their safety. Cryptopia, has a huge volume everyday and suddenly goes into maintenance mode, then declare bankruptcy . Keep it in your own wallet.
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There are no exchanges that can guarantee security 100% in the world. It is the fact and unavoidable, all crypto users must know about it.
Anyway, those exchanges should try their best to secure their members' assets but in the digital world, you cannot hope 100% secure for your assets. Regarding the fees, since there are a lot of exchanges, you can choose which one that is fit with your expectation, including the amount of fees.
agree! even binance the world most biggest crypto exchange was hack just recently. we know that security was very tight from that platform they even have their own ITs to secure their platform but still vulnerable to hacking. most of exchanges are now experiencing stealing of funds thata why no secure place in crypto today. Just be caution all the time and always check carefully before clicking the final botton.
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No the crypto exchanges are not secure,for example yesterday Bitpoint a japoneze exchange got hacked and losing about 3.5 billion yen ($32 million),,every year a lot of exchanges big or small are hacked.
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I think they are not safe because, always take your altcoins, tokens to online wallets(preferably hardware wallets) after trading . Even well known hundred year old banks are dealing with online attacks, hacks all the time. I dont think that exchanges are solid than the billion usd profit maker banks. Even binance (for me its the best exchange) hacked recently. So exchanges are not safe.
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Do you guys think Crypto Exchanges are a secure way to exchange your coin?
Because I feel these exchanges could be hacked. They charge a high fee which is between 0.25% to 3 %. They provide no privacy on your transactions.
So the question is:
Which is the best way to exchange coins in which where we don't have to pay high fees and we can get security and privacy?
Please share your thoughts on it?
In a nutshell, there is no exchange or exchanges that is scure even Binance ,the number one exchange by volume has experienced a hack few weeks back. As it stand now, there is no where we can exchange coins with high security or paying higher fees to get our coins 100% secured.
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DEX exchange is a good choice, now there are many quick exchanges and you can swap directly with the BTC and top coins, without having to use and fill out the KYC form you can swap, but if you want to trade, use the DEX exchange but some coins will not be supported in it
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if I think the cryptocurrency exchange for me is also safe for me to hold and I use it to trade daily, both holding the token and holding the altcoin for me is also safe,
because I also believe investment in krypto is also good to use to generate profits, both for the short and long term for me, it's still safe.
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yes I think crypto exchange is also safe and good for us to make a profit, because now the price of bitcoin and all altcoin prices have also given good prices, so for me right now is also a good time to get good profits in the future
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there is always a problem when you save a few of your coins on an exchanger, it's best not to keep your coins on an exchanger, it's better to keep competing hardware like nano ledger. I think binance is a pretty safe game for making low-cost transactions.
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I personally cannot say that. Because in this case, crypto exchanges still have a negative side, namely the level of security. Even the class of Binance can be hacked by hackers. hence it would be better if we were alert and observed how much coins there should be in the exchange and coins stored in our personal wallet.
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I personally cannot say that. Because in this case, crypto exchanges still have a negative side, namely the level of security. Even the class of Binance can be hacked by hackers. hence it would be better if we were alert and observed how much coins there should be in the exchange and coins stored in our personal wallet.
Any exchange can be hacked. And very lucky there is no guarantee that later you will return the lost funds. The best option is to keep funds on different exchanges and on different cold wallets. Adhere to the fact that it is necessary to do balance screenshot on the exchange so as not to be deceived and know exactly what quantity of coins is on the stock exchange.
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Do you guys think Crypto Exchanges are a secure way to exchange your coin?
Because I feel these exchanges could be hacked. They charge a high fee which is between 0.25% to 3 %. They provide no privacy on your transactions.
So the question is:
Which is the best way to exchange coins in which where we don't have to pay high fees and we can get security and privacy?
Please share your thoughts on it?
Yes I believe some exchanges are secure But I am not saying that they are 100 percent secure. The level of security in exchanges matters a lot so when using an. Exchange, I check and compare its level of security and also I make sure to. Activate my second factor authenticator
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You have to do your own research before using any one of this exchanges. Because no one knows when the exchanges are attacked and been hacked by anonymous persons. There are lots of crypto exchanges which are very reputed but security will the main drawbacks for some of them. In today's world hacking is the main attack which most of software suffers. If any of the exchanges will guarantees you that they are secured from any hacking then i prefer them..
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if I think crypto trading for me is also safe for us to use every day, because now krypto is also very popular and there are also many who use it in their trade to increase profits better every day
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Humans invariably prefer to take chance of everything. With the expansion of IEOs it additionally requires carefulness. we have a tendency to shouldn't be drawn by any IEO promotional material and fail to require note of the exchange promoting it. the reality is, most exchanges can rise to push IEOs, however the question is; are they merit such attention?
In the maximum amount as we have a tendency to analysis IEOs to take a position in, we should always additionally take into consideration the exchange. Binance's being selective makes it ideal and so, IEOs are triple-crown up to now. every of the exchanges acts because it is, and also the results rely on it. I mean, everything shouldn't be cash, as a result of today's earnings are often the loss of the long run
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Do you guys think Crypto Exchanges are a secure way to exchange your coin?
As long as the exchange is popular and recommended by many people, I think it is secure. I will never choose to trade my coins in a certain exchange without analyzing its track record firstly. So far, I only trust the top 10 exchanges in the world. And the best exchange in my country, indodax.
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I had no problems with any cryptocurrency exchange that I used for trading, the most important thing that can not be done is to keep any cryptocurrency on the exchanges, and then there will be no problems.
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Nothing is secure, i lost some money on exchanges hack, felt really bad. Only secure bitcoin storage is official original wallet, same to the altocoins. Don't trust exchanges!
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yes, I think that by trading altcoin and tokens now I'm also safe to use trading every day it's also safe, because I believe that the price of keypto this year will also experience good price developments, so I think trading altcoin and tokens will also generate a lot profit
so I don't think you need to be afraid to trade now.
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Nothing is secure, i lost some money on exchanges hack, felt really bad. Only secure bitcoin storage is official original wallet, same to the altocoins. Don't trust exchanges!
Absolutely right, there is no safe exchange that guarantees 100% safety of your funds. I also lost money due to the hacking of the exchange and it was not nice. Therefore, it is not necessary to store all your money on the same exchange and do not store large amounts of cryptocurrency, better to withdraw some of the unused crypto currency to a hardware wallet or to that wallet from which you have a private key.
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Decentralized exchanges will be the next big thing. But they do not have enough volume right now. But dex is a lot more secure because your coins are in a smart contract, not in someone else's wallet.
But always keep your coins in your own hardware wallet. Otherwise, everything can be hacked.
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I think the krypto currency is also safe now, because now I also use the krypto currency, it's also safe, because I myself also believe that krypto can also help many people to get profits in the future.
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Nothing is secure, i lost some money on exchanges hack, felt really bad. Only secure bitcoin storage is official original wallet, same to the altocoins. Don't trust exchanges!
It is interesting to know your experiences. Will you let us know the name of the exchanges where you lost your money? I think it is better to mention them here as a warning for other people. Then, I and other people can avoid choosing the exchanges.
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Do you guys think Crypto Exchanges are a secure way to exchange your coin?
Because I feel these exchanges could be hacked. They charge a high fee which is between 0.25% to 3 %. They provide no privacy on your transactions.
So the question is:
Which is the best way to exchange coins in which where we don't have to pay high fees and we can get security and privacy?
Please share your thoughts on it?
In my opinion every online transactions has risk, they can be tracked. But We must be carreful to choose crypto exchange. You can use binance. I still believe in binance. I think It is still secure and cheaper than other. it is my opinion.