- This topic has 2 replies, 2 voices, and was last updated 4 months ago by SilverbackBruh.
- Thursday, June 2nd, 2022 at 13:10 #294612LeatherApple3Participant
from what I’m reading, it seams people lose their crypto by trying to transfer to wallets and other off exchanges. Is it really a bad thing to just keep your crypto on a place like Coinbase? Has Coinbase been hacked and if so has people lost crypto by keeping it on those platforms?Thursday, June 2nd, 2022 at 13:26 #294614SilverbackBruh
I keep mine in exchanges currently for the stake rewards, i havent had any problems transferring back and fourth between exchanges and wallets. You dont lose crypto by transferring, there are fees, so its best to use a coin with low transfer fees, then convert afterThursday, June 2nd, 2022 at 13:26 #294613Maswasnos
Coinbase itself has not been hacked before, but other centralized exchanges (CEX) have (Mt. GOX is the most famous).
Also, having funds on a CEX means they’re subject to laws, regulations, and other restrictions. If crypto suddenly becomes illegal in your home country or the CEX stops operating there, you might not be able to access your funds. CEXes have also been known to ban certain accounts for vague reasons, which greatly complicates the task of withdrawing your funds.
But realistically, 99% of the time it’s fine to keep money on a CEX like Coinbase if you use all available security features. A self-custodied hardware wallet is always safer, but a reputable CEX is usually “good enough”.
- You must be logged in to reply to this topic.
Related Forum Topics:
- → A multicountry comparison of cryptocurrency VS gold: Portfolio optimization through generalized simulated annealing – ScienceDirect
- → Please stop asking the same stupid shit over and over and fucking read prior posts before asking. Lazy asses….
- → “Crypto CEOs” asking Ukraine to “accept (insert random crypto) in order to donate xxx ammount of $ worth crypto” are fucking pathetic
- → As a result of the NFT bull cycle. I’ve been asking myself the same question over and over: will there be more high-end projects like Bayc, or even higher than that
- → “What utility does it have though” stop asking this question, a token’s utility is the same as that of money; as a means of exchange
- → Random question: what is the Solana Foundation doing to be proactive about Quantum computing; it’s integration into blockchains and it’s threats? (p.s big fan of Solana, just asking for a friend :))
- → Hey y’all , long time no see , question 🙋♂️ what happens to the owner of bitcoin once he’s found ? Like ….. taxes or kill him or bounty …asking for a friend
- → crypto.com app won’t let me login it after asking to reauthorization 😡😡😡 all my shiba in there
- → Is there a reason crypto.com is asking for you to verify your account that already exists? Only to tell you that I’m only allowed to have one account as if someone hacked me? Can anyone help?
- → I’m sorry for asking this on a crypto forum but I’d just need some leads regarding Music NFTs
- → More athletes like Francis Ngannou start asking for their pay in crypto, you’ll see massive adoption in a couple of months time
- → A day before Elon Musk’s Twitter poll asking if he should sell his shares, his brother sold $108 million in Tesla shares. Stop using this guy for promoting crypto. The memes are part of his facade to distract people
- → White House asking for options on crypto assets energy consumption. Make your voice heard let them know this is a clean energy problem, not a new issue just because of POW.
- → Bank of America doing survey asking about crypto [Image]
- → Top 10 replies to people asking about your crypto portfolio after a 70% drop.