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KingCRP;16600 wrote:I am definitely not going to feel bad for any one who actually leaves their funds on exchanges because I believe that it's risky and doesn't show they have a good understanding of what an exchange is all about.
It is ignorance that causes some people to leave their funds on an exchange. Many experienced members tend to do it so newbies to the space just copy them also stall on exchanges.
All we can do is try to educate as many people as possible of the dangers associated with it.
Putting out this warning to other users will help to minimize the risk of lose of funds and misinterpretation of the exchange system.
Last edited by Comrade (2023-06-30 13:17:27)
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If registered with the SEC, crypto exchanges would be forced to adopt technology systems to make their order books audit-compliant. They would also face strict protocols.
If regulated it is kyc and AML regulations that sec and governments want, they do not care about the development or technology which the exchange uses, they just want to know the people that are using the exchange and when they know the people they will be able to follow their activities.
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In the U.S., AML and KYC measures are mandatory for most crypto exchanges because they are defined as money service businesses (MSBs) under federal regulations.
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The US appears to be leading in the crypto KYC/AML stakes. In the US, FinCEN (is charged with protecting the US monetary system from illicit use and combat money.
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PEACEMAKER;16649 wrote:KingCRP;16600 wrote:I am definitely not going to feel bad for any one who actually leaves their funds on exchanges because I believe that it's risky and doesn't show they have a good understanding of what an exchange is all about.
It is ignorance that causes some people to leave their funds on an exchange. Many experienced members tend to do it so newbies to the space just copy them also stall on exchanges.
All we can do is try to educate as many people as possible of the dangers associated with it.
Putting out this warning to other users will help to minimize the risk of lose of funds and misinterpretation of the exchange system.
You are right mate, because any good cryptocurrency user would always teach other newbies what they know and have learnt so far while using cryptocurrency and not watching them make huge transaction decisions that may lead to one loss of the other
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By utilizing encryption technology, cryptocurrencies can serve as both a currency and an accounting system. For beginners who want to get started trading crypto, however, the best advice is to start small and only use money that you can afford to lose.
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By utilizing encryption technology, cryptocurrencies can serve as both a currency and an accounting system. For beginners who want to get started trading crypto, however, the best advice is to start small and only use money that you can afford to lose.
Exactly, what you don't actually understand and can't control is much like a gamble, so its best to start with something that can prompt you to understand the system betters and moreover don't always focus on what you invest to avoid mental greed that can actually lead to lost.
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PEACEMAKER;16438 wrote:gap;16435 wrote:So do you actually mean that's it might not be risky to leave your fund in the exchange.
I am saying the exact opposite that it is risky to leave your funds and private information on an exchange where you have no control over what happens to the asset.
SAFU does not protect users and they should always brave up for the next hack that steals their funds or information.I like your idea and i will like to add, apart from leaving the fund i will suggest that all eyes are clear before any transaction is made and necessary tabs are watched closely.
You have a point but you need to do more than that when sending cryptocurrency to help mitigate the risk of theft and bad actors, it's important to ensure that you are sending the cryptocurrency to the correct and legitimate recipient address.
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Europ;16480 wrote:PEACEMAKER;16438 wrote:I am saying the exact opposite that it is risky to leave your funds and private information on an exchange where you have no control over what happens to the asset.
SAFU does not protect users and they should always brave up for the next hack that steals their funds or information.I like your idea and i will like to add, apart from leaving the fund i will suggest that all eyes are clear before any transaction is made and necessary tabs are watched closely.
You have a point but you need to do more than that when sending cryptocurrency to help mitigate the risk of theft and bad actors, it's important to ensure that you are sending the cryptocurrency to the correct and legitimate recipient address.
People are advised to double-check the address because any typos or errors could cause money to be sent to the incorrect person.
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joanna;16853 wrote:Europ;16480 wrote:I like your idea and i will like to add, apart from leaving the fund i will suggest that all eyes are clear before any transaction is made and necessary tabs are watched closely.
You have a point but you need to do more than that when sending cryptocurrency to help mitigate the risk of theft and bad actors, it's important to ensure that you are sending the cryptocurrency to the correct and legitimate recipient address.
People are advised to double-check the address because any typos or errors could cause money to be sent to the incorrect person.
I suggested storing and sending your cryptocurrency using reputable and secure wallets. Your private keys are kept offline and away from potential hacking attempts with hardware wallets like Ledger or Trezor or uWallet, which provide increased security.
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full;16854 wrote:joanna;16853 wrote:You have a point but you need to do more than that when sending cryptocurrency to help mitigate the risk of theft and bad actors, it's important to ensure that you are sending the cryptocurrency to the correct and legitimate recipient address.
People are advised to double-check the address because any typos or errors could cause money to be sent to the incorrect person.
I suggested storing and sending your cryptocurrency using reputable and secure wallets. Your private keys are kept offline and away from potential hacking attempts with hardware wallets like Ledger or Trezor or uWallet, which provide increased security.
Make sure you have the most recent security updates and bug fixes by routinely updating your wallet software and any associated programs. Vulnerabilities in outdated software may exist and be used by malicious parties.
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thrive;16856 wrote:full;16854 wrote:People are advised to double-check the address because any typos or errors could cause money to be sent to the incorrect person.
I suggested storing and sending your cryptocurrency using reputable and secure wallets. Your private keys are kept offline and away from potential hacking attempts with hardware wallets like Ledger or Trezor or uWallet, which provide increased security.
Make sure you have the most recent security updates and bug fixes by routinely updating your wallet software and any associated programs. Vulnerabilities in outdated software may exist and be used by malicious parties.
Set up two-factor authentication for your exchange and wallet accounts. Requiring a second verification step, typically through a different device or app, when accessing your account or authorizing transactions, adds an additional layer of security.
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IyaJJJ;16857 wrote:thrive;16856 wrote:I suggested storing and sending your cryptocurrency using reputable and secure wallets. Your private keys are kept offline and away from potential hacking attempts with hardware wallets like Ledger or Trezor or uWallet, which provide increased security.
Make sure you have the most recent security updates and bug fixes by routinely updating your wallet software and any associated programs. Vulnerabilities in outdated software may exist and be used by malicious parties.
Set up two-factor authentication for your exchange and wallet accounts. Requiring a second verification step, typically through a different device or app, when accessing your account or authorizing transactions, adds an additional layer of security.
Be wary of phishing scams as well, where con artists pretend to be reputable websites or people in an effort to trick you into disclosing your private keys or sensitive data.
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level;16858 wrote:IyaJJJ;16857 wrote:Make sure you have the most recent security updates and bug fixes by routinely updating your wallet software and any associated programs. Vulnerabilities in outdated software may exist and be used by malicious parties.
Set up two-factor authentication for your exchange and wallet accounts. Requiring a second verification step, typically through a different device or app, when accessing your account or authorizing transactions, adds an additional layer of security.
Be wary of phishing scams as well, where con artists pretend to be reputable websites or people in an effort to trick you into disclosing your private keys or sensitive data.
I'll advise you to double-check URLs, only use official apps and websites, and never give out your private keys or login information to anyone.
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joanna;16859 wrote:level;16858 wrote:Set up two-factor authentication for your exchange and wallet accounts. Requiring a second verification step, typically through a different device or app, when accessing your account or authorizing transactions, adds an additional layer of security.
Be wary of phishing scams as well, where con artists pretend to be reputable websites or people in an effort to trick you into disclosing your private keys or sensitive data.
I'll advise you to double-check URLs, only use official apps and websites, and never give out your private keys or login information to anyone.
When interacting with cryptocurrency-related websites or platforms, make sure the connection is secure by looking for "https" in the URL and a lock symbol in the browser address bar. This suggests that the connection is encrypted, which lowers the possibility of data interception.
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full;16862 wrote:joanna;16859 wrote:Be wary of phishing scams as well, where con artists pretend to be reputable websites or people in an effort to trick you into disclosing your private keys or sensitive data.
I'll advise you to double-check URLs, only use official apps and websites, and never give out your private keys or login information to anyone.
When interacting with cryptocurrency-related websites or platforms, make sure the connection is secure by looking for "https" in the URL and a lock symbol in the browser address bar. This suggests that the connection is encrypted, which lowers the possibility of data interception.
Another thing is to use strong, original passwords for exchange accounts and wallets. Avoid using the same password on multiple platforms because a breach on one platform could expose your credentials elsewhere.
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thrive;16867 wrote:full;16862 wrote:I'll advise you to double-check URLs, only use official apps and websites, and never give out your private keys or login information to anyone.
When interacting with cryptocurrency-related websites or platforms, make sure the connection is secure by looking for "https" in the URL and a lock symbol in the browser address bar. This suggests that the connection is encrypted, which lowers the possibility of data interception.
Another thing is to use strong, original passwords for exchange accounts and wallets. Avoid using the same password on multiple platforms because a breach on one platform could expose your credentials elsewhere.
Avoid using public Wi-Fi networks to send or access your cryptocurrency wallets because they can be insecure and open to hacking attempts. When transacting in cryptocurrencies, use a reliable, secure internet connection.
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IyaJJJ;16868 wrote:thrive;16867 wrote:When interacting with cryptocurrency-related websites or platforms, make sure the connection is secure by looking for "https" in the URL and a lock symbol in the browser address bar. This suggests that the connection is encrypted, which lowers the possibility of data interception.
Another thing is to use strong, original passwords for exchange accounts and wallets. Avoid using the same password on multiple platforms because a breach on one platform could expose your credentials elsewhere.
Avoid using public Wi-Fi networks to send or access your cryptocurrency wallets because they can be insecure and open to hacking attempts. When transacting in cryptocurrencies, use a reliable, secure internet connection.
Recall that maintaining security and safeguarding your cryptocurrency investments necessitate constant attention to detail and adherence to security best practices.
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level;16869 wrote:IyaJJJ;16868 wrote:Another thing is to use strong, original passwords for exchange accounts and wallets. Avoid using the same password on multiple platforms because a breach on one platform could expose your credentials elsewhere.
Avoid using public Wi-Fi networks to send or access your cryptocurrency wallets because they can be insecure and open to hacking attempts. When transacting in cryptocurrencies, use a reliable, secure internet connection.
Recall that maintaining security and safeguarding your cryptocurrency investments necessitate constant attention to detail and adherence to security best practices.
We must keep up with the most recent security measures and exercise caution when it comes to any risks related to the crypto ecosystem.
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joanna;16870 wrote:level;16869 wrote:Avoid using public Wi-Fi networks to send or access your cryptocurrency wallets because they can be insecure and open to hacking attempts. When transacting in cryptocurrencies, use a reliable, secure internet connection.
Recall that maintaining security and safeguarding your cryptocurrency investments necessitate constant attention to detail and adherence to security best practices.
We must keep up with the most recent security measures and exercise caution when it comes to any risks related to the crypto ecosystem.
The more we do so we should actually learn to cultivate the habits of making research and understand the system to a certain development and improvement aspects.
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full;16871 wrote:joanna;16870 wrote:Recall that maintaining security and safeguarding your cryptocurrency investments necessitate constant attention to detail and adherence to security best practices.
We must keep up with the most recent security measures and exercise caution when it comes to any risks related to the crypto ecosystem.
The more we do so we should actually learn to cultivate the habits of making research and understand the system to a certain development and improvement aspects.
A secured measures vast a level of safe outcome and this will haste a continuous commitment to in the same process.
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The US appears to be leading in the crypto KYC/AML stakes. In the US, FinCEN (is charged with protecting the US monetary system from illicit use and combat money.
The US is very strict with cryptocurrency exchanges, they are so strict that i no longer know what their intentions are for cryptocurrency exchanges, some people say they are just doing this to find a way to get to crypto through cryptocurrency exchanges, i will tell US citizens to use decentralized exchanges for now.
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joanna;16870 wrote:level;16869 wrote:Avoid using public Wi-Fi networks to send or access your cryptocurrency wallets because they can be insecure and open to hacking attempts. When transacting in cryptocurrencies, use a reliable, secure internet connection.
Recall that maintaining security and safeguarding your cryptocurrency investments necessitate constant attention to detail and adherence to security best practices.
We must keep up with the most recent security measures and exercise caution when it comes to any risks related to the crypto ecosystem.
You are right mate, one cannot keep up on security measures by themselves if they are not in any genuine forum like the Utopia P2P ecosystem, I know many strategies and security measures against scammers I have learnt from being on the forum
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The Internet is home to several such fake cryptocurrency exchanges, and forums and review sites already list warnings about them. It seems we're never short of Bitcoin scams banking on the popularity of Elon Musk.
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Read various cryptocurrency discussions in the cryptocurrency Forum. Here you can talk about cryptocurrency economics, mining, project development, marketplace, and trading with enthusiasts. Also, you get to read the latest news, play games, exchange cryptocurrencies, or engage with the community. A perfect example is the Utopia ecosystem.
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