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RE: Poloniex Situation Update

in #steemit7 years ago

Heya

Please don't be put off by what happened to me. If you take simple precautions for example "DONT" enable the withdraw function for the API, and also whitelist your IP address, and let's not forget using API keys in video tutorials, then you will be as safe as any other exchange. I think what is important is to never keep large amounts on an exchange.

For me it was the mistake of enabling the withdraw function in the API that caused the damage.

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Thanks for the heads up, i haven't got much right now so I'm able to manage in exchanges, however when i do make bigger investments, I'll need to move to offline wallets ..

Were you using bot trading?

I saw that In poloniex, to withdraw, you need email confirmation

No i was trading manually through Coinigy mostly. I have had an account with Poloniex from when i first started Steemit and that was what i used it for was selling steem and SBD. But the first ICO (waves) I did i needed to use Bittrex and thats what set me on that path with Bittrex. After what happened i decided to re visit my Poloniex but found the site is extremely slow which is very annoying. But i think if you have smaller amounts on each exchange you also reduce the risk of losing alot in one hit. But like i said if you take precautions i think most exchanges will be much the same.

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