At the start of 2018, Coincheck kicked off the year with the largest hack in the history of cryptocurrency, losing over $500 million in NEM tokens in the process. Why is it dangerous?Ĭrypto security firm Ledger says that as much as $2.7 million in cryptocurrencies are stolen from cryptocurrency exchanges each day, and the number is only growing with 2018 breaking all previous records for total cryptocurrencies stolen. However, nobody can guarantee 100% that your money will be safe there. Universal 2nd Factor (U2F) authenticators.Withdraw your funds and transfer them to your private wallet for long-term storageīinance is extremely secure and they keep adding new features to protect their users and their funds:.Create your account (use our referral link to get 20% kickback of all your trading operations forever!).Use exchanges for their sole purpose, as a platform to exchange your money for some bitcoin and other cryptocurrencies: They keep the crypto on their exchanges instead of transferring them to a private wallet. Is keeping coins on exchange a good idea?Ĭryptocurrency exchanges are the best way to get some coins, but lots of people who use these exchanges make a mistake. Is it safe to keep my coins on Binance? Did you know that exchanges are considered the least secure venue to store cryptocurrency? Since Binance is one of the multiple exchanges, it is not the best long-term place for your crypto.
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