How secure is Crypto Currency

[Abas10b]

Cryptocurrency exchanges and third parties offer storage for your coins through hot wallets, which are secure, but still online ( Let's be Honest it's Hackable ). Crypto held on an exchange or in a wallet is not FDIC-insured like money in the bank.

 

[Thinker009]

Most crypto exchange platform usually have a special funds incase any form of issues arise, and some even insure the company incase of any issue happens , it all depends on the exchange platform you are using , I consider them as safe

 

[Kingstone]

It was on this platform that someone commented that Binance has been hacked before. I was shocked though. But they have must have had a backup plan to recover the money if any was stolen. Binance is still up and running

 

[Lens]

The wallet in exchanges or online wallets are not totally resistant to cyber criminals. The hackers develop different malware to capture your wallets keys and in turn steal your funds. It's advisable not to download software from unknown sources.

 

[Victorial]

The wallet is not 100 percent safe, to begin with. And people can be careless to allow their passwords and keys to hack into their wallets.

 

[Josemendez]

Cryptocurrency exchanges and third parties offer storage for your coins through hot wallets, which are secure, but still online ( Let's be Honest it's Hackable ). Crypto held on an exchange or in a wallet is not FDIC-insured like money in the bank.

Cryptocurrency held in exchanges are not secured . They are prone to hack because they are centralized and once the single entity is hacked every other aspect is taken control off.

 

[Alexandoy]

We also have the PDIC here which, I believe, is the counterpart of FDIC that gives you your bank deposit when something goes wrong with the bank. Most likely the wallets are not secured with an insurance. When the wallet provider is hacked and the crypto coins are stolen then I don't know if there is a recovery measure.

 

[Hena101]

The wallet is not 100 percent safe, to begin with. And people can be careless to allow their passwords and keys to hack into their wallets.

Yeah serious most at time people are careless with their password and this give other people access to their wallet and this make it easy to be hacked.

 

[jeff87]

Cryptocurrency exchanges and third parties offer storage for your coins through hot wallets, which are secure, but still online ( Let's be Honest it's Hackable ). Crypto held on an exchange or in a wallet is not FDIC-insured like money in the bank.

Thanks for reminding us that cryptocurrency wallet can be hacked. That is why putting high security measures like password, sms authentication, and email verification can make our cryptocurrency wallet secured from easily hacking incident.

 

[Justin]

Crypto currency transactions are secured, crypto currency wallets are also secured provided, you have used every security measures available to you, such as two factor authentication.

 

[Nurudeen]

No doubt that the system is hackable and that is why you need to find a good crypto currency exchange platform that is safe like binance and kucoin and will help you save your money

 

[Abas10b]

No doubt that the system is hackable and that is why you need to find a good crypto currency exchange platform that is safe like binance and kucoin and will help you save your money

in 2019 binance was hacked. did you remember thaf

 

[Abas10b]

Crypto currency transactions are secured, crypto currency wallets are also secured provided, you have used every security measures available to you, such as two factor authentication.

Nothing is 100% Secure

 

[mcjerry]

Cryptocurrency exchanges and third parties offer storage for your coins through hot wallets, which are secure, but still online ( Let's be Honest it's Hackable ). Crypto held on an exchange or in a wallet is not FDIC-insured like money in the bank.

I will never advise someone that wants to store his crypto currency to store them on exchangers and other third parties like online wallet. Because the person will not have full control of his crypto currency.
Offline wallet is the best and most secure way to store our crypto currencies

 

[Nomad]

Crypto currency exchanges and crypto currency wallets, mainly web wallet and mobile wallet, are not fully secure, they are prone to hacking. You need to use hardware wallet, which are more safer than mobile and web wallets and centralized exchanges.

 

[Yusuf]

Crypto currency exchange Business is safe for anybody and that is if you are using a good crypto currency exchange platform that has strong security system like two factor authentication.

 

[Dowenship]

Cryptocurrency exchanges and third parties offer storage for your coins through hot wallets, which are secure, but still online ( Let's be Honest it's Hackable ). Crypto held on an exchange or in a wallet is not FDIC-insured like money in the bank.

Is not as if money stored in a bank is also secured 100 percent... No doub't that this wallets are hackable that's the reason why crypto is an high risk business/ investment....

 

[gammarays]

The wallet in exchanges or online wallets are not totally resistant to cyber criminals. The hackers develop different malware to capture your wallets keys and in turn steal your funds. It's advisable not to download software from unknown sources.

Yes no online wallet is safe as we've gotten many news of crypto theft. It can be bypassed easily with software,smart contracts or malicious apps. There's a recent scam target at wallet users by just sending scam coins to the wallet.

 

[Kelly5]

Cryptocurrency can only be as secured as you the owner will want it to be for you. If you are very careless of your cryptocurrency assets, you'll quickly lose them all to hackers in no time
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Cryptocurrency can only be as secured as you the owner will want it to be for you. If you are very careless of your cryptocurrency assets, you'll quickly lose them all to hackers in no time

 

[HayKay]

I think day by day, more secure means of safeguarding any coins are being discovered. One thing I like though is the wallet address thingy and the security it comes with - most have 2 factor authentication. So to an extent, it's 60% safe