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Counterparty Risk on Exchanges

  • Post #1
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  • First Post: Aug 14, 2019 4:14pm Aug 14, 2019 4:14pm
  •  TMR
  • Joined Jan 2007 | Status: OG | 618 Posts
Just a friendly piece of advice to the new crypto traders out there. Counterparty risk on crypto exchanges is REAL. Over the last 6 years I have observed multiple exchanges get hacked, get seized by law enforcement, freeze withdraws, and run away with users funds.

I would advise only to trade on reputable exchanges with large daily trade volume.

Also never keep large balances and idle funds on crypto exchanges. If your funds are not in an open position, I would recommend transferring them to cold storage.

Please do your due diligence in selecting an exchange that works best with your trading style. https://coinmarketcap.com/rankings/exchanges/reported/
Money isn't real
  • Post #2
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  • Aug 15, 2019 5:23pm Aug 15, 2019 5:23pm
  •  vanillaice
  • | Joined Jul 2019 | Status: Member | 217 Posts
Quoting TMR
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Also never keep large balances and idle funds on crypto exchanges. If your funds are not in an open position, I would recommend transferring them to cold storage.
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PREACH!
 
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  • Post #3
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  • Aug 16, 2019 3:42am Aug 16, 2019 3:42am
  •  TMR
  • Joined Jan 2007 | Status: OG | 618 Posts
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https://www.cryptocraft.com/news/941...rypto-platform
Money isn't real
 
 
  • Post #4
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  • Last Post: Aug 16, 2019 1:30pm Aug 16, 2019 1:30pm
  •  MarkGman
  • Joined Jul 2019 | Status: Member | 145 Posts
Thanks for starting this thread. Ranking of exchanges is helpful.
 
 
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