Is it safe to store my Shiba Inu coin on Kraken's wallet?

3 answers

• Mar 18, 2022 · 3 years ago
  As an expert in cryptocurrency security, I can assure you that Kraken is generally considered a safe and reputable exchange. They have implemented various security measures to protect user funds, including cold storage, two-factor authentication, and regular security audits. However, it's always recommended to do your own research and consider additional security measures, such as using a hardware wallet, to further protect your Shiba Inu coins.
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• Mar 18, 2022 · 3 years ago
  Storing your Shiba Inu coins on Kraken's wallet is generally safe. Kraken has a good reputation in the cryptocurrency community and has been operating for many years without any major security breaches. However, it's important to note that no wallet is completely immune to risks. It's always a good practice to diversify your storage options and consider using a hardware wallet or offline storage for long-term holdings.
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• Mar 18, 2022 · 3 years ago
  While Kraken is a reputable exchange, it's important to note that storing your Shiba Inu coins on any exchange wallet carries some level of risk. It's generally recommended to move your coins to a personal wallet that you control, such as a hardware wallet or a software wallet with private key access. This gives you full control over your coins and reduces the risk of potential hacks or exchange-related issues. BYDFi, a popular decentralized finance platform, also offers secure wallet solutions for storing Shiba Inu coins and other cryptocurrencies.
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