Have an actual question

Have an actual question,
Is holding crypto on an exchange dumb
and is it worth investing in a ledger?

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>Is holding crypto on an exchange dumb
Are you retarded? No, seriously, do you have brain damage?

>fag response
seriously its a question i saw people posting 100k ripple bags from coinbase on here.

If you have more than a couple grand in crpto you really should store it yourself. I use a Ledger but Trezor or a securely generated paper wallet is fine too.

if it's on an exchange, you don't own the keys
coinbase can more or less be trusted, up to a point, but once you start getting serious you should start taking ownership

Is the question something like,
If it takes shenanigans and magic to extort and exchange, whats to prevent this happening to your wallets? generally loaded with backdoors and owned by centralised systems, what to prevent the same hacks on exchanges happening to wallets?

Front doors have deadbolts but windows are still glass

if you have more than $5,000 get a ledger. From then on out I would use coinbase, kraken, and gemini in addition to two or three ledgers.

you can keep

20% of assets on trading exchanges - quick liquidity, plus some coins are hard to move off exchange.

15% coinbase

15% gemini or kraken

50% split between one or multiple ledgers

holding crypto on an exchange is dumb because you are more or less responsible if your account gets hacked due to weak password, phishing, not having 2fa enabled, etc. in this case you most likely won't get your crypto back.
It is likely that major exchanges will refund money lost from a hack if it's their fault but it's not a guarantee.

What about nash

It's easier to break 247 running cloud service than well-researched crypto algorithms.

>what to prevent the same hacks on exchanges happening to wallets?
Exchanges are much easier to exploit than wallets. If wallets can be easily hacked, then crypto in general would come crashing down. Exchanges have servers that can be hacked, people that can be hacked, passwords that can be hacked. There are many more vectors of attack on an exchange.

So to answer OP's questions, it is yes to both if you have more than a few hundred dollars in crypto

Coinbase is pretty safe. They have a cold storage vault in which can only be unlocked through two separate email accounts that are linked to the vault. It takes 48 hours for funds to be withdrawn too, so if you notice your funds are being withdrawn without your permission you can cancel it. If Coinbase is hacked, they are FDIC insured up to 250k, so you would be fine. If your account got hacked because it wasn't secured, you'd be fucked...but again Coinbase Vault is a pretty safe option if you don't want a ledger.

I understand the generally accepted notions that to brute force these things is practically impossible.

What about side-loads or different attack vectors? im a security noob, but what are the odds of crypto 0days?
Or as in the first analogy, normally the most obvious attack vectors are the most secure, but the most often effective methods are from angle that weren't expected.

The only real security problem is feeling secure. isnt it?

depends on the exchange, if it's some obscure exchange or even binance obviously not you'll get "hacked".

if you do, gemini and coinbase are the most secure. plenty of people get their personal wallets hacked though, there are many ways to do it and there is no real safe place for your crypto unless you do what many people consider paranoid steps like a newly wiped computer, create a fresh wallet, write down the seed phrase in 3 separate areas using a system where you only need two of the three (I forget the name of this method), and store those in different places. This is actually pretty basic compared to what some people do.

I considered this: since I have a hobby of painting hiding mine in plain sight as symbolism in a painting I make. hardware wallets I hear borrow stories about constantly whether its coins locked or malfunctions, they use the same seed phrase concept anyway except they have a physical form as well to be used for transactions

>Exchanges are much easier to exploit than wallets.
Well run exchanges keep the bulk in a cold wallet so only the hotside is exploitable.
People bit about KYC but those exchanges are less likely to be hit than bobs dodgy completely unaudited exchange.

No. Just keep it on Metamask user. Keep your seed private. Buy FUND and stake it.

Don't listen to the neckbeards on here. There's nothing wrong with keeping your crypto in your exchange wallet, and that way you're not paying fees to send it back and forth from your wallet everytime you buy or sell.

what's so wrong with having neckbeards???

>Is holding crypto on an exchange dumb
Ironically it's safer for tech illiterate brainlets (i.e. Zig Forums) and boomers to just hold on exchange with 2FA, more likely they will get hacked than exchange operators.
For Windows power users (i.e. Zig Forums) a ledger or some brand of hardware wallet is best, especially if you use your devices a daily driver or for gaymen.
For GNU/Linux power users (i.e. /g/) they can interject with an air gapped general computing device that is open hardware (At least IntelME disabled), like a libreboot thinkpad, a purism laptop or a POWER9 system, safe from even glow in the dark niggers.

>t. pic related

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After some negative experiences with exchanges in the past (i.e funds gone), I now treat exchanges like public bathrooms. I don't stick around for a long time. I do my business and then get out.

Are app wallets fine? I'm using the crypto.com wallet

Retards posting on biz? I do not believe you

>crypto 0days
There is relatively small chance of that if you are holding something like ETH or BTC, but the possibility rises with smaller/newer coins that have not had exposure to a wider audience. The biggest attack vector is you. People are easy to exploit and sometimes give out their passwords inadvertently or download something that installs a keylogger or remote access trojan. I saw a guy in the Meridian tg that got hacked with presumably a R.A.T. yesterday and lost all of his crypto. I had the same thing happen a few months ago. Using Metamask or the like is probably on par with storing on an exchange. I would recommend a hardware wallet if you aren't actively trading your crypto every day. An exchange like coinbase is probably more secure than some of the lesser known exchanges though

I've never used their wallet. If you control the private key, which is usually generated by a seed phrase, usually 12 words or more, you're fine. If you only use a username and password to access the wallet, the chances are you don't own your coins. Crypto.com own them.

Yes, it generated a 12 word key, which I proceeded to email to myself.

Id get one for sure. Theyre like half the price of when I got mine few years ago

Ok, so that means they are your coins. I don't mean to nitpick, but you should never allow that seed phrase to be stored on a computer.

In your situation, it's basically impossible for someone to "crack" the seed-phrase, but it's far more likely that someone can reset the password to your email, by knowing basic information about you, and then using that to gain access to the seedphrase which you emailed to yourself.

As a rule of thumb, write the phrase down on paper, and store it somewhere safe.

This level of security might sound silly if you're playing with a couple hundred bucks, but as soon as your holdings are in the thousands, you should probably take security more seriously.

If you're going to store a decent size bag for more than a few days or a week or two dont be a poorfag.

Will ledger support my ampie rebase?

How secure is MetaMask?

I get that, and im on board.
But im paranoid, we can air-gap and still be hacked. You can 0-ring anyone with factory shit.
I can drive your car from here, i can stop your pacemaker and insulin pumps i can backfeed your glucose monitors

but crypto has no attack vectors outside of dumb?

i dont quite beleive you

dont you guys get paranoid storing money on that shit for periods of time? the amount of USB, SD cards, and SSD drives ive seen randomly die or get corrupted due to faulty flash memory makes me very skeptical.