Topic: A helping hand - page 2. (Read 369 times)
Roqqu is a centralized exchange. He will have to do KYC on the platform at some point and that defeats the purpose of staying anonymous. You tried your best to help your friend in your own little way but a better solution would be to tell him to use a open source wallet to receive the bitcoins. It’s bad practice to store bitcoins in a centralized exchange.
Roqqu is more like a centralized exchange which holds your coins so if your trader friend isn’t going to keep the bitcoin for a long time then he can make use of the Roqqu exchange or the trader could move to a more popular centralized exchange if he doesn’t cares about losing his privacy to centralized exchanges. But if he cares for privacy then he can use decentralized exchanges like BISQ to do that.
But if he is holding the coin then he should go for a wallet like electrum. He can make use of it on an airgapped device or better off get a hardware wallet
We should always ask questions in areas of the market, where we failed to understand, bringing on more experienced traders to solved them. Though I'm still learning and know what to expect from the system. These projects are weigh out of control and I've watch the top trends of them, not all of them will end up generating profits. Roqqu is one of the appropriate and best wallets I've come acrossed in the system, knowing the tight corners and doing everything within our circle. When it comes to selecting wallets, we're different and we have our choices to make. But if he is holding the coin then he should go for a wallet like electrum. He can make use of it on an airgapped device or better off get a hardware wallet
He then opened an account with Roqqu. I wanted to know if him creating a Roqqu was the right choice.
As far as I know, Roqqu provides an exchange and custodial wallet service for cryptocurrencies like Bitcoin. This means they hold the private keys to customer funds, making the service easier to use but placing trust in Roqqu for security and customers do not have full control compared to a non-custodial wallet where they hold the keys. If your friend wants more control and independence with his Bitcoin, he may want to consider moving it to a non-custodial wallet that gives him sole ownership of the keys. However this also transfers all security responsibility onto him.
Roqqu is more like a centralized exchange which holds your coins so if your trader friend isn’t going to keep the bitcoin for a long time then he can make use of the Roqqu exchange or the trader could move to a more popular centralized exchange if he doesn’t cares about losing his privacy to centralized exchanges. But if he cares for privacy then he can use decentralized exchanges like BISQ to do that.
But if he is holding the coin then he should go for a wallet like electrum. He can make use of it on an airgapped device or better off get a hardware wallet
But if he is holding the coin then he should go for a wallet like electrum. He can make use of it on an airgapped device or better off get a hardware wallet
How I suggested a trader to use Bitcoin for domestic and international trading. Bitcoin is a significant and prominent currency. I've known this trader for years, but a few days ago, we were talking about how he wanted to receive some money from his Texas-based business partner without having to tell anyone else the amount. So, I introduced him to Bitcoin, and with the help of the forum, I was able to explain it in more detail. He then opened an account with Roqqu. I wanted to know if him creating a Roqqu was the right choice.
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