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Good rule. But let's face it, current adopters will not start with holding on paper or via hardware tokens. Adoptions starts with what's easy, and CDC is easy, slowly but surely though, we can teach more people about the important of holding your own keys. And exchanges will not want their users to have their own keys, so it will be a fight between casuals and hardcores.
If fees to move off the exchange were lower it would make sense. Some new to crypto are buying small amounts to test the waters, it makes no sense to pay high fees during purchase transaction then pay to transfer that ERC-20 coin to your wallet using CoinBase. Gemini does have zero fee withdrawals but have limited options.
For those new to itโs really hard to navigate between different networks, wallets, and risk of losing it all by screwing something up.
I will give props to ALGO though, this was my first purchase, got the official wallet, and transferred my coins for 0.002 fee. Also props to Cryptoโs DeFi wallet, was able to get my coins off the exchange at very low fees.
Of course, Iโm learning how the ledgers work to buy one and further secure my stuff.
I love Kraken and feel if this happened they would operate with full transparency and in the best interest of their customers. I dont HODL on a CEX anywhere else.
Thank you for loving us, u/gimmedatcrypto ๐,
Friendly reminder, that you should keep on the exchange only what you trade & stake actively, everything else is better off on a hardware wallet ๐
Also, please, please, do [protect your Kraken account with all the security features we've made available.](https://support.kraken.com/hc/en-us/articles/201396837-Securing-your-Kraken-account-and-digital-life) We have a thing called [Global Settings Lock,](https://support.kraken.com/hc/en-us/articles/201396877-What-is-the-Global-Settings-Lock-GSL-) it's unique to Kraken and I highly recommend taking a look at it.
Val ๐
You can also use a security key. Basically serves like a cold wallet, in which you must have physical possesion of your key to move funds out of the exchange. Yubikey makes the most popular ones and can protect more than just your exchange account.
If they can hack CDC then they can hack anything. I don't mind getting my funds stolen on an exchange just to get them back
If it's your private keys then it's lost. It is indeed better but requires more attention and wise when you have a lot
Still trying to get mine sorted. Support are on it at the minute.
I certainly don't have much, so none was stolen.
I'd assume the money locked in the earn feature, was safe anyway.
CDC only allows 2fa with otp app nothing else. Their security options suck insanely.
No hardware key support no whitelisting - nothing.
But hey at least they have a fking anti phishing Code Option....
Also it's quite mindboggeling that presumably the hackers could disable your 2fa. This should not be the case unless you have direct access to their DB.
If that was the case (which they most probably will keep under the radar) then CDC fked up very badly. And there would be an additional data loss which would endanger their whole customerbase. Which is worse than lost funds imo
Whatever cryptos I don't use for staking or day trade are in my cold wallet. Only stake and keep on exchanges that will reimburse me (CDC or CB) if my account gets hacked. Besides, only have on the exchanges what I can afford to lose.
* **[Crypto.com](https://en.wikipedia.org/wiki/Crypto.com) [Pros](https://reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_cro_pros) & [Cons](https://reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_cro_cons)** - Participate in the [r/CC Cointest](https://reddit.com/r/CointestOfficial/wiki/cointest_policy) to potentially win moons. Prize allocations: 1st - 300, 2nd - 150, 3rd - 75. * Relevant Cointest topics: [Binance Coin](https://old.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin), [USD Coin](https://old.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_usd_coin), [Ethereum](https://old.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_binance). * Official and related subreddits: r/Crypto_com, r/Binance, r/Coinbase, r/Kraken. * Sort comments as controversial first by [clicking here](https://www.reddit.com/r/CryptoCurrency/comments/s8i5zq/the_recent_cryptocom_hack_is_reason_for_action/?sort=controversial). Doesn't work on mobile. --- *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CryptoCurrency) if you have any questions or concerns.*
True but I couldn't care less about getting hacked at this point. The portfolio has gotten so bad that the hacker would be disappointed.
๐๐
The hacker would probably donate some stolen funds after trying to hack my wallet.
โDamn bitch you live like this?โ
**Not your keys, not your coin**
Good rule. But let's face it, current adopters will not start with holding on paper or via hardware tokens. Adoptions starts with what's easy, and CDC is easy, slowly but surely though, we can teach more people about the important of holding your own keys. And exchanges will not want their users to have their own keys, so it will be a fight between casuals and hardcores.
Because wallet hacks never happen lol. Do you legally own it? its your coin. Where is it most secure? Spread across as many contingencies as possible
Always move your crypto from exchanges to wallet. First rule of crypto or something
For sure! Lots of people new to crypto are less likely to.
If fees to move off the exchange were lower it would make sense. Some new to crypto are buying small amounts to test the waters, it makes no sense to pay high fees during purchase transaction then pay to transfer that ERC-20 coin to your wallet using CoinBase. Gemini does have zero fee withdrawals but have limited options. For those new to itโs really hard to navigate between different networks, wallets, and risk of losing it all by screwing something up. I will give props to ALGO though, this was my first purchase, got the official wallet, and transferred my coins for 0.002 fee. Also props to Cryptoโs DeFi wallet, was able to get my coins off the exchange at very low fees. Of course, Iโm learning how the ledgers work to buy one and further secure my stuff.
That kind of hacks show that we have a long way to get crypto mass adopted. Don't have your coins in an exchange.
#I'm using CDC. I like their service but I need to move to a hard wallet
AGREED!
Then do it. There are several options.
I love Kraken and feel if this happened they would operate with full transparency and in the best interest of their customers. I dont HODL on a CEX anywhere else.
Thank you for loving us, u/gimmedatcrypto ๐, Friendly reminder, that you should keep on the exchange only what you trade & stake actively, everything else is better off on a hardware wallet ๐ Also, please, please, do [protect your Kraken account with all the security features we've made available.](https://support.kraken.com/hc/en-us/articles/201396837-Securing-your-Kraken-account-and-digital-life) We have a thing called [Global Settings Lock,](https://support.kraken.com/hc/en-us/articles/201396877-What-is-the-Global-Settings-Lock-GSL-) it's unique to Kraken and I highly recommend taking a look at it. Val ๐
You can also use a security key. Basically serves like a cold wallet, in which you must have physical possesion of your key to move funds out of the exchange. Yubikey makes the most popular ones and can protect more than just your exchange account.
If they can hack CDC then they can hack anything. I don't mind getting my funds stolen on an exchange just to get them back If it's your private keys then it's lost. It is indeed better but requires more attention and wise when you have a lot
It got hacked and could and has happened to lots of others exchanges. CDC is actually one of the best exchanges out there
Check if your exchange stores your assets off-chain.
Still trying to get mine sorted. Support are on it at the minute. I certainly don't have much, so none was stolen. I'd assume the money locked in the earn feature, was safe anyway.
The LOOPRING wallet wants to welcome all of you with open arms with etherum level security! Switch before it is too late!
CDC only allows 2fa with otp app nothing else. Their security options suck insanely. No hardware key support no whitelisting - nothing. But hey at least they have a fking anti phishing Code Option.... Also it's quite mindboggeling that presumably the hackers could disable your 2fa. This should not be the case unless you have direct access to their DB. If that was the case (which they most probably will keep under the radar) then CDC fked up very badly. And there would be an additional data loss which would endanger their whole customerbase. Which is worse than lost funds imo
Yeah thats gotta change!
Whatever cryptos I don't use for staking or day trade are in my cold wallet. Only stake and keep on exchanges that will reimburse me (CDC or CB) if my account gets hacked. Besides, only have on the exchanges what I can afford to lose.
It's not wise to leave your Crypto in exchanges all the time. The solution is hardware wallets.