How safe are Indian crypto exchanges?

lotsofmoney

Jr. VIP
Jr. VIP
Joined
Aug 31, 2021
Messages
1,781
Reaction score
408
Is it safe to store a large amount of money or coins in Indian crypto exchanges? Which is the best exchange in terms of security?
 

kalki143

Registered Member
Joined
Aug 21, 2021
Messages
64
Reaction score
16
I suggest you get a hardware wallet. Or try an exchange like coinex to store your coins.
 

legendahomer

Junior Member
Joined
Jun 2, 2021
Messages
180
Reaction score
127
There is not a 100% secure way, including hard wallets. What amount are you planning to deposit?
 

achiever2011

Jr. VIP
Jr. VIP
Joined
Apr 10, 2020
Messages
1,635
Reaction score
348
I think Wazirx is the number one exchange in India. Security wise also it is safe and no hack incident has been reported so far.
 

legendahomer

Junior Member
Joined
Jun 2, 2021
Messages
180
Reaction score
127
Hard wallets are completely safe I think.
There is no such thing as 100% safe. Google, instagram, banks, cryptos, wallets, icloud, you name it and other stuff are hackable, no matter what or whatever anyone tell you. Like everything that man has ever made. Not man made, different story.

Only difference is how secure your stuff is. Adding 2 step verification will add some % of security to your account, thats it.
There is a limit in % of how much can you protect your account. Other percentage left, is you praying to god that no one hacks your account.

Long story...
 

HunterLife

Banned for rules violation.
Joined
Feb 27, 2021
Messages
1,189
Reaction score
665
Is it safe to store a large amount of money or coins in Indian crypto exchanges? Which is the best exchange in terms of security?

Personally i wont recommend any Exchange for holding coins instead you Cold wallet for Storage
 

Trust WorkShop

Jr. VIP
Jr. VIP
Joined
Oct 13, 2018
Messages
4,059
Reaction score
3,698
Website
join.skype.com
Centralized crypto wallets, exchanges are never 100% safe, as they usually claim that they were hacked, people lose their crypots, hence. Use the centralized exchanges only for trading (if you do) and keep in them only the amount of cryptos you need for your trading. Otherwise the rest of your cryptos, keep them in decentralized wallets. Decentralized wallets are very safe as long as you do not reveal your passphrases or seed keys to anyone and with decentralized wallets there are no sending, receiving limits, no KYC, etc. I use Trust Wallet and it is awesome. Do a Google search on "difference between centralized and decentralized crypto wallets" to enlighten yourself further.
 
Top