BITCOIN
$22,885.68
%-1.06
ETHEREUM
$1,573.50
%-0.66
DOGE
0.09219000
%7.26
BINANCE COIN
$310.30
%0.94
RIPPLE
0.40090000
%0.38
SOLANA
$23.77
%-1.78
SHIBA
0.00001171
%0.95
coins

Why It Is Risky To Leave Your Cryptocurrency In Exchange?

There are a number of risks to leaving your cryptocurrency in an exchange:

  1. Hack attacks: Cryptocurrency exchanges are vulnerable to hack attacks, and there have been numerous instances of exchanges being hacked and cryptocurrency being stolen.
  2. Insider theft: There have also been instances of exchange employees stealing cryptocurrency from customer accounts.
  3. Exchange failures: Cryptocurrency exchanges can fail or go bankrupt, which can result in the loss of customer funds.
  4. Lack of control: When you leave your cryptocurrency in an exchange, you are giving up control over your funds to the exchange. This means that you are at the mercy of the exchange's policies and procedures.
  5. Volatility: Cryptocurrency prices can be highly volatile, and leaving your cryptocurrency in an exchange exposes you to the risk of price fluctuations.

For these reasons, it is generally considered to be riskier to leave your cryptocurrency in an exchange than to store it in a secure wallet that you control. However, it's worth noting that there are also risks associated with storing cryptocurrency in a wallet, such as the risk of losing access to your wallet if you lose your private keys or if your device is lost or stolen.