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How secure is Crypto Currency

  • Thread starter Thread starter Abas10b
  • Start date Start date
one of the ways you can secure your cryptocurrency is to use two-step verification method whenever you are logging into your wallet. You can also make use of fingerprint to secure your wallet
 
If you want to.secure your Cryptocurrency you shouldn't use any wallet you see online. Always use renowned options like trust-wallet, Binance and xD to secure your coins.
 
Abas10b said:
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.
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Storing you crypto currency on exchangers is not good. I will prefer offline wallet to exchangers. Because with offline wallet is very secure once we save our pass phrase secure.
 
I think these very day cryptocurrency exchange is very secure because the security is more secure like before, so cryptocurrency exchange is 60% secure.
 
Cryptocurrency can only be made to be as secured as the owner of the assets wants it to be. Beyond that, your cryptocurrency assets can be hacked by brutt force hackers and schemers if you're not security conscious of your wallets
 
Cryptocurrency is secured that's why it achieved longevity. If no longevity it wouldn't have gain the worldwide popularity and acceptance.
 
Justin said:
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.
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That's true but there are still people who don't used any security to secured their wallet and this make them vulnerable to hacker to hacked their wallet.
 
Kingstone said:
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
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That's a very sad news that binance experience hacking before. Today it is still operating and I hope no incidents of hacking can happen because I believe they have learned their lessons and are tightening the security.
 
Sincerem said:
Cryptocurrency is secured that's why it achieved longevity. If no longevity it wouldn't have gain the worldwide popularity and acceptance.
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But recently we have been coming across some hacking on exchanges which is worrying. It gains popularity because of it ROI not the security..
 
Dowenship said:
But recently we have been coming across some hacking on exchanges which is worrying. It gains popularity because of it ROI not the security..
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Most of exchange platforms are still secured, they never been hacked nor compromised before. Coinbase never experienced any hacking before.
 
Crypto is very secured. The wallets providers are also coming up everyday with means to secure your wallet. Take for example, trustwallet - they provide unique phrases meant for you and that's a great move
 
Depends on the planform and service, but for the most part, they're pretty safe. The only downside, is that I don't think there's a way to get your crypto back if it's somehow stolen. So that's something you need to keep in mind.

I think there's a lot of risk with them, because they're not as safe as say a bank with money.
 
Crypto is secured when you're using a legit and tight security exchange or wallet platform to hold your coins. And you should also lock your wallet with strong security.
 
kayode10 said:
one of the ways you can secure your cryptocurrency is to use two-step verification method whenever you are logging into your wallet. You can also make use of fingerprint to secure your wallet
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Yes I have done that 2 factor authentication steps in order to make my cryptocurrency wallet secured. I really wonder how cryptocurrency exchange platform are hacked with this kinds of authenticator are in placd.
 
Cryptocurrencies can only be made secured depending on how secured you want it to be. If one is very careless with their cryptocurrencies wallets passwords and phrases as well as private keys, then you're compromising your cryptocurrencies safety yourself
 
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
 
Cryptocurrency wallet is secure if you don't ignorantly reveals your security code to the third part, it can not be be hacked easily like form of bank account
 
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.I think is very secured
 
Kaffyfolla said:
Cryptocurrency wallet is secure if you don't ignorantly reveals your security code to the third part, it can not be be hacked easily like form of bank account
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That is right. It is very much secure unless you reveal your wallet address to hackers. It is best to hide from other parties the password and other security features.
 
Abas10b said:
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.
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I think that any system that is considered to be an online system can be hacked to a certain extent and i think that total security when it comes to online systems is never going to be a thing as every system has a back door that can be taken advantage off if the hackers choose to do so.
 
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