- Nov 22, 2019
- 6,962
- 1,682
Which is the safest exchange to keep my bitcoins ?
Safest exchange to keep my bitcoins
- Thread starter onlinemarketer12
- Start date
- Nov 22, 2019
- 6,962
- 1,682
It is not big amount so I do not want to spend on anything extra.
jentl3m4n
Banned - Selling via PM
- May 5, 2011
- 231
- 58
You can generate address and private key on your computer without internet. You do not need any software. Simple script will give you address. Then simply save key. At least I do like that.
- Mar 30, 2018
- 12,094
- 14,369
None they keep getting hacked, use electrum wallet
HustleForLife
Regular Member
- May 11, 2020
- 209
- 112
Reputable exchanges like binance, coinbase are safer for storing crypto as compared to most rubbish exchanges in the world. But the best method is still to store them on a cold storage hardware wallet.
- Nov 22, 2019
- 6,962
- 1,682
Where from ?
ChristineAshe
Junior Member
- Aug 19, 2014
- 165
- 98
Get Exodus or Wasabi (bitcoin only), they are both reliable and easy to use.
D
Deleted member 1333509
Guest
I've keep an amount on Binance for a while (months). Enough for easy access, I prefer to spread where it's stored.
It's undoubtedly safer not to do this and to store everything on a hardware wallet or Electrum, but if it's not much then the odds of losing anything significantly important to you on Binance is infinitesimally small.
They were hacked in 2019 for $40M.. all users were fully reimbursed and life went on.
The question is if you want to be 99.999% safe (even hardware wallets are not totally invulnerable) or if you are happy being 95% safe with a smaller amount of crypto for the ease of access.
If you're going to keep some on an exchange, then Binance is the one. They're market leaders for a reason - and the fact that we can already see how they manage being hacked is actually a positive.
Other exchanges could close up shop or implode if they get hacked. Binance is an institution in the crypto industry - they're not going anywhere.
It's undoubtedly safer not to do this and to store everything on a hardware wallet or Electrum, but if it's not much then the odds of losing anything significantly important to you on Binance is infinitesimally small.
They were hacked in 2019 for $40M.. all users were fully reimbursed and life went on.
The question is if you want to be 99.999% safe (even hardware wallets are not totally invulnerable) or if you are happy being 95% safe with a smaller amount of crypto for the ease of access.
If you're going to keep some on an exchange, then Binance is the one. They're market leaders for a reason - and the fact that we can already see how they manage being hacked is actually a positive.
Other exchanges could close up shop or implode if they get hacked. Binance is an institution in the crypto industry - they're not going anywhere.
tb303
Supreme Member
- Dec 18, 2011
- 1,238
- 909
Id agree with that. I keep some online but spread between Coinbase & Krakken. Moving btc during december 2017 was a nightmare.
Binance is probably a safe bet too but the talk of CZ and the chain re-org around their hack was worrying but at least they did the right thing in the end.
Keep enough on exchanges to play with - nothing more.
To the OP I would say get a mobile wallet write the seed phrase safe and get used to moving things around. That way you will at least learn something.
https://brd.com/
https://electrum.org/
Wendy logan
Junior Member
- May 5, 2020
- 149
- 47
Julian Richard Derczynski
Banned - 2x chargebacks on membership
- May 29, 2018
- 480
- 21
will i be able to still trade crypto with the bots im using while using a private key and be 100% secure, if exchange gets hacked or whatever? will i be able to store btc on a trezor and make daily roi at the same time without having anything stored on a exchange ?
Kommando
Junior Member
- Jan 14, 2020
- 129
- 124
Even if an exchange doesn't get hacked they might stop you from transfering your funds by asking questions or for additional documents. It recently happened for some Singaporian, he tried to transfer his funds from Binance to Wasabi wallet and they froze his account asking for what purpose he was using Wasabi wallet.
Never trust exchanges.
Never trust exchanges.