Topic: Binance CEO saying don't keep coins on exchanges - page 7. (Read 1023 times)
Its a terrible idea to keep your coin on exchanges even the most reputable exchange can runaway with your money, just keep some of the coin that you need for trading, dont make exchanges as your wallet the security of the exchanges is not too good, all of us had witnessed a lot of hackers hacked the exchanges this is one of the good reason to never store your coin on exchanges
https://cryptomenow.com/controversial-tweet-draws-fire-ceo-of-binance/
After some recent high profile hacks happening, Changpeng Zhao shares tips on keeping safe, mostly coming from a place of holding personal responsibility. But some say this is nonsense.
After some recent high profile hacks happening, Changpeng Zhao shares tips on keeping safe, mostly coming from a place of holding personal responsibility. But some say this is nonsense.
This is what we call as suggestion, suitable or not, it would be better if it was followed, of course this would not harm us right ? Even though Binance's CEO suggested something like this, are they not afraid to lose trading volume? I dont think so.
This suggestion is indeed the best, never save your large assets in a wallet that you don't have its Private Key and just make sure only you know those key.
Well duh, it may not be great business sense for him to say that but everyone knows it to be true so it's for the best. In some ways it's even good for them. They're not a wallet and don't want to be held liable for more funds than actually need to be on the exchange for trading.
The title should be to not keep all coins on the exchange. For trading some coins are needed otherwise you have to keep transferring them back and forth which takes time and money. Spread them out to different exchanges so you don't lose too much if one gets hacked
If we should not keep our coin on exchange where did he expect crypto traders to keep our coin .. they must solve the security issues rather than tell us not to keep our coin on exchange . Some time you can set a bid and forget about it so i totally disagree with him ..
OP
your quoting a crap media
crap media quoting a panda
panda is quoting an image of a tweet
image of a tweet is quoting a tweet that says
if you store coins yourself you control your security
if you store on an exchange use only a trusted exchange
OP says CEO is saying dont store on exchanges
but the quote of th quote (from panda) is saying th CEO is saying to store coins on exchanges..
but the actual tweet is unbiased either way. its just two if statements where the "if" is subtly implied
anyway best advice is dont use an exchange as a custodian wallet. they are not designed or insured as being custodial wallets. they are just a trading service. most exchanges have terms and conditions wrote towards exchange trading, which means expect losses and you cannot hold an exchange liable for losses [of trading] which if translating to fools using an exchange as a custodian. is also implying you cant hold the exchange liable for loses.. meaning if hacked, your screwed.
so only use an exchange to exchange. and yes expect loses. dont think your funds are insured
your quoting a crap media
crap media quoting a panda
panda is quoting an image of a tweet
image of a tweet is quoting a tweet that says
if you store coins yourself you control your security
if you store on an exchange use only a trusted exchange
OP says CEO is saying dont store on exchanges
but the quote of th quote (from panda) is saying th CEO is saying to store coins on exchanges..
but the actual tweet is unbiased either way. its just two if statements where the "if" is subtly implied
anyway best advice is dont use an exchange as a custodian wallet. they are not designed or insured as being custodial wallets. they are just a trading service. most exchanges have terms and conditions wrote towards exchange trading, which means expect losses and you cannot hold an exchange liable for losses [of trading] which if translating to fools using an exchange as a custodian. is also implying you cant hold the exchange liable for loses.. meaning if hacked, your screwed.
so only use an exchange to exchange. and yes expect loses. dont think your funds are insured
All the articles from that website are crap. Seriously!
All they (you probably) did was copy some paragraphs from other news and even on this failed miserably!!!
Mistyping his name twice, naming him Changpeng Zha once and Chanpeng Zhao the other time, then wrote
Moral of the story...
Don't trust pandas with your finances
All they (you probably) did was copy some paragraphs from other news and even on this failed miserably!!!
Mistyping his name twice, naming him Changpeng Zha once and Chanpeng Zhao the other time, then wrote
your quoting a crap media
crap media quoting a panda
panda is quoting an image of a tweet
image of a tweet is quoting a tweet that says
~
OP says CEO is saying dont store on exchanges
but the quote of th quote (from panda) is saying th CEO is saying to store coins on exchanges..
crap media quoting a panda
panda is quoting an image of a tweet
image of a tweet is quoting a tweet that says
~
OP says CEO is saying dont store on exchanges
but the quote of th quote (from panda) is saying th CEO is saying to store coins on exchanges..
Moral of the story...
Don't trust pandas with your finances
You shouldn't hold coins on an exchange. You should always withdraw it to a place where you control the private key.
https://cryptomenow.com/controversial-tweet-draws-fire-ceo-of-binance/
After some recent high profile hacks happening, Changpeng Zhao shares tips on keeping safe, mostly coming from a place of holding personal responsibility. But some say this is nonsense.
After some recent high profile hacks happening, Changpeng Zhao shares tips on keeping safe, mostly coming from a place of holding personal responsibility. But some say this is nonsense.
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