Exchangers Are safer then Banks and wallets - page 4.

DaveF

legendary

Activity: 3500

Merit: 6320

Crypto Swap Exchange

Quote from: Fullbear2222 on November 10, 2022, 07:36:25 AM

Quote from: Altryist on November 10, 2022, 07:34:00 AM

Quote from: Fullbear2222 on November 10, 2022, 07:16:39 AM

Exchangers like binance Are safer then banks and walllets.

We live of generation of refund, in crypto main thing Are refund what i did learn about.

This is a delusion, if you store your coins on the exchange, then they are not yours and you can lose them at any time. Keeping coins on exchange is a very bad habit, whether it is Binance or any other exchange, they can still be frozen or stolen by hackers, the risks are too high to trust your coins to exchanges. And I'm not sure that the exchange will reimburse stolen coins, there are many examples of this.

They have to refund

No they do not.
There have been dozens (hundreds?) of times when exchanges got hacked and people lost their coins and got nothing back.
There are countless times when people got their user info hacked and lost their coins and got nothing back.
There are dozens (hundreds?) of times when exchanges just closed their doors and took everyone's coins and they got nothing back.

And so on. Get a hardware wallet, learn how to use it and keep your coins in your control.
Anything else is just asking to loose them.

-Dave

Fullbear2222

member

Activity: 479

Merit: 11

Quote from: Altryist on November 10, 2022, 07:34:00 AM

Quote from: Fullbear2222 on November 10, 2022, 07:16:39 AM

Exchangers like binance Are safer then banks and walllets.

We live of generation of refund, in crypto main thing Are refund what i did learn about.

This is a delusion, if you store your coins on the exchange, then they are not yours and you can lose them at any time. Keeping coins on exchange is a very bad habit, whether it is Binance or any other exchange, they can still be frozen or stolen by hackers, the risks are too high to trust your coins to exchanges. And I'm not sure that the exchange will reimburse stolen coins, there are many examples of this.

They have to refund

Altryist

legendary

Activity: 2100

Merit: 1340

Quote from: Fullbear2222 on November 10, 2022, 07:16:39 AM

Exchangers like binance Are safer then banks and walllets.

We live of generation of refund, in crypto main thing Are refund what i did learn about.

This is a delusion, if you store your coins on the exchange, then they are not yours and you can lose them at any time. Keeping coins on exchange is a very bad habit, whether it is Binance or any other exchange, they can still be frozen or stolen by hackers, the risks are too high to trust your coins to exchanges. And I'm not sure that the exchange will reimburse stolen coins, there are many examples of this.

Oshosondy

legendary

Activity: 1652

Merit: 1208

Gamble responsibly

Quote from: Fullbear2222 on November 10, 2022, 07:26:53 AM

At least i get refund and i sleep well

I have my private key to control my coins and I sleep well, but not for my funds on exchanges. Opening a long term position on any exchange, like on Binance, my mind will always be there because I know my coin is no with me, but with the exchange, they have control over it, unlike when it is in my wallet which is the safest and best.

If you want to make fast payment and withdraw is suspended, you will sleep well? Or your friend sent you money and it was freezed and the exchange said it is tainted, will you sleep well if not solved before you want to sleep?

Do not make false statement that will let newbies to go to wrong direction. If you are not trading, or you have your coins not active on an exchange, move it to a noncustodial wallet where you have complete control. Cold storage for big amount.

Fullbear2222

member

Activity: 479

Merit: 11

Quote from: Oshosondy on November 10, 2022, 07:22:45 AM

Quote from: Fullbear2222 on November 10, 2022, 07:16:39 AM

Exchangers like binance Are safer then banks and walllets.

Wrong

Go on trusting your coins with another party. If I have my private key, it is my coin, i can do whatever I like with it at anytime, but if you have it in an exchange, they have control over your coins, this may give you some inconveniences like freeze of account, freeze of coins, unable to withdraw and withdraw suspended. Exchanges can also be hacked, your data can also be hacked and be used against you. I prefer bank, there are robberies in bank, but you can still go to another branch and withdraw your money, that is how it works in my country, but fiat is not an investment means, which is the reason I prefer crypto. For crypto, to best and safest is to control your coins by having your private key, you have to use noncustodial wallet to do that. There is nothing safe as noncustodial wallet which I can be able to have complete control over my coins.

At least i get refund and i sleep well

Oshosondy

legendary

Activity: 1652

Merit: 1208

Gamble responsibly

Quote from: Fullbear2222 on November 10, 2022, 07:16:39 AM

Exchangers like binance Are safer then banks and walllets.

Wrong

Go on trusting your coins with another party. Until you are frustrated by the exchange or something bad happened to the exchange would be when to realize the truth.

If I have my private key, it is my coin, I can do whatever I like with it at anytime, but if you have it on an exchange, they have control over your coins, this may give you some inconveniences like freeze of account, freeze of coins, unable to withdraw and withdrawal suspended.

Exchanges can be hacked, your data can be hacked and be used against you.

I prefer bank, there are robberies in bank, but you can still go to another branch and withdraw your money, that is how it works in my country. Bank is robbed, but I do not think my money is lost, but if the exchange i am using is hacked while mu trading funds are there, i will panic. But fiat is not an investment means, which is the reason I prefer bitcoin.

For bitcoin and crypto generally, the best and safest is to control your coins by having your private key, you have to use noncustodial wallet to do that. There is nothing safe as noncustodial wallet which I can be able to have complete control over my coins.

Fullbear2222

member

Activity: 479

Merit: 11

Exchangers like binance Are safer then banks and walllets.
Becouse If something happens they always refund losses.
Binance have done this many times and i know there someone to watch over my wealth.
Private wallets they can be hacked but nobody dont refund.

We live of generation of refund, in crypto main thing Are refund what i did learn about.

Topic: Exchangers Are safer then Banks and wallets - page 4. (Read 612 times)