Altcoins Talks - Cryptocurrency Forum

Cryptocurrency Ecosystem => Crypto Exchanges => Topic started by: bdsharminsoltana on September 29, 2018, 10:48:14 AM

Title: How safe is exchange?
Post by: bdsharminsoltana on September 29, 2018, 10:48:14 AM
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?
Title: Re: How safe is exchange?
Post by: pelana vreo on September 29, 2018, 04:14:21 PM
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/



Title: Re: How safe is exchange?
Post by: wokee12 on September 30, 2018, 11:06:51 AM
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
Title: Re: How safe is exchange?
Post by: abc123 on November 17, 2020, 07:06:33 AM
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.
Title: Re: How safe is exchange?
Post by: Pluto25 on November 17, 2020, 07:10:56 AM
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?
Title: Re: How safe is exchange?
Post by: Altcoin1998$ on November 17, 2020, 05:35:07 PM
Quote from: Pluto25 on November 17, 2020, 07:10:56 AM
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.