My opinion is fully different from you. Because any custodial wallet can't be a safe place for any cryptocurrency. Because "not your keys not your coins" is the truth in crypto. I think there are many safe crypto online wallets like exodus are much safer than Binance or any other Crypto Exchange.
We should move our principal assets in a safe wallet and that may be a Hardware wallet also.
Topic: Exchangers Are safer then Banks and wallets (Read 593 times)
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.
Binance managed to refund the lost funds due to hacks a couple of times but it doesn't mean that they can be able to refund loss everytime and to realize simply use your common sense, how can an exchange return fundd to user when they lost all their money due to hacks. And Binance is the only exception because all other exchange which got hacked never returned any money in my knowledge so be your own bank instead of choosing someone to trust with your funds. 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.
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.
I know there are some exchanges that is very strong and it will take a lots of efforts for it to be hacked again. We know that Binance had been hacked before so they would have learnt from their mistakes and taken drastic actions to make their exchange strong mer than the way it was before.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.
Just because some exchanges had been having some problems making them to crash out does not mean that every other exchanges will crash too. What we should be more conscious about is is leaving our funds on exchanges with having other plans in case anything happens the exchange. Keeping coins in wallet that you have control over is better than leaving the funds in exchanges which could lead to big loses if hacked.
You are so wrong and preaching the exact opposite of what people are trying to preach. No, exchange wallets aren't safe. Binance isn't safe either. Read the news and you will see that the CEO of binance himself is encouraging people to keep their funds in their own wallet. Not to store it in an exchange. No matter how much safe the exchange says they are, they aren't safe enough to fully protect your funds and take complete responsibility in time of disaster. The same people like you thought it was safe to keep their funds in the exchange and ended up losing everything they had!
Exchangers like binance Are safer then banks and walllets.
Becouse If something happens they always refund losses.
You think exchanges are safe because they always refund losses incase something happened? Don't be too confident. Don't wait to experience the worse before you realize your mistake for having such belief. The best is to store your coins in a wallet that you have full control since you're holding the private keys. That will give you assurance that your assets are safe. Becouse If something happens they always refund losses.
Exchangers like binance Are safer then banks and walllets.
Becouse If something happens they always refund losses.
You think exchanges are safe because they always refund losses incase something happened? Don't be too confident. Don't wait to experience the worse before you realize your mistake for having such belief. The best is to store your coins in a wallet that you have full control since you're holding the private keys. That will give you assurance that your assets are safe. Becouse If something happens they always refund losses.
He might realize it too late, exchange would seem safer now but wait until they go bankrupt and are not able to pay you then you'll realized what a horrible mistakes on your path for trusting exchange platforms. Cryptocurency is an unregulated market and people can go away with doing horrible things. Nobody will be held responsible if they can make the crime not look like it was their fault.
We have seen countless of times when projects run away with investors funds yet nothing was done about such situations instead they were just speculation of arrest of the CEO but soon or later the whole issue dies down and things continue like nothing ever happened.
If you want to be guarantee of the safety of your coins then be incharge of them yourself instead of trusting a third party to safeguarded your investment for you. Centralized platforms are the worst places to safeguard your investment whicyyan exchange is a popular example.
Exchangers like binance Are safer then banks and walllets.
Becouse If something happens they always refund losses.
You think exchanges are safe because they always refund losses incase something happened? Don't be too confident. Don't wait to experience the worse before you realize your mistake for having such belief. The best is to store your coins in a wallet that you have full control since you're holding the private keys. That will give you assurance that your assets are safe. Becouse If something happens they always refund losses.
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.
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.
Yes ,its right!I agree with you, I have in mind one service for storing cryptocurrency - very safe, but I totally agree with you about Binance
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.
Try to look around and try to realize on what you are saying on here on which it could never be safe once you do deal up with exchangers.Lets say that Binance might had able to make out such compensationBecouse 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.
but you wouldnt know if they would really be doing that if ever they would be hacked again.You cant really be that so sure when it comes to risk because everything could really happen.
Banks might be shit but you cant see too often for a bank to be bankrupt, this is why its better to change off this kind of mindset because its never been right imho.
Not any exchange 100% safe for saving your fund include with most trusted exchange right now Binance, I believe if check some feedback from many Binance user with their fund freeze and faced difficult when withdrawing fund above $10,000 you will believe with not any exchange can securing than the bank.
I don't fully believe with the bank and exchange for saving assets but most prefer use hardware wallet for saving my fund, I won't give negative feedback with Binance exchange as said by OP most trusted exchange, just not found with how faced difficult when withdrawing fund at Binance with higher amount above $10,000.
I don't fully believe with the bank and exchange for saving assets but most prefer use hardware wallet for saving my fund, I won't give negative feedback with Binance exchange as said by OP most trusted exchange, just not found with how faced difficult when withdrawing fund at Binance with higher amount above $10,000.
Exchangers like binance Are safer then banks and walllets.
Seriously?Well, this may be your own opinion, but this is not as simple as you said.
In exchange, we seem like not owning our assets because we don't have the private keys, we have only password and email for the exchange itself. Additionally, something online will never be safe 100%. There must be any chance of losing by hacking, phishing, banning, and other probabilities. Who will guarantee you that you will be always able to access your account in the exchange? How if your account is banned or frozen and you must do somethig compex to recover?
Exchangers like binance Are safer then banks and walllets.
Seriously?Well, this may be your own opinion, but this is not as simple as you said.
In exchange, we seem like not owning our assets because we don't have the private keys, we have only password and email for the exchange itself. Additionally, something online will never be safe 100%. There must be any chance of losing by hacking, phishing, banning, and other probabilities. Who will guarantee you that you will be always able to access your account in the exchange? How if your account is banned or frozen and you must do somethig compex to recover?
Exchangers like binance Are safer then banks and walllets.
If you live in a developed country with clear banking laws, I actually think that keeping money at bank account is much safer than storing assets on an exchange, maybe the situation can be different when you live in a country with economic problems like Lebanon where citizens cannot withdraw money from the bank or can be said to be limited monthly https://www.aljazeera.com/news/2022/10/4/depositors-storm-three-lebanese-banks-over-withdrawal-limitsStoring asset in exchange may look safe because is not hacked but the value of your coin could drop significantly or even if it is an altcoin it will not valuable, even saving in an noncustodial wallet is safer than the exchange itself there is enough to store your private key in a safe place.
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.
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.
Disagree 101%!!!
As long it’s not your keys, not your coins, your funds are not safe and can be subjected to either get freezed, declined transfers, trades, deposits, withdrawals, etc. You do not have full control once you have coins and tokens stored in your exchange as it is operated by a central authority.
So ain’t safe for me when we store our money there like what happened to FTX right now. Not even Binance is exempted from it despite that they’re the juggernaut.
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.
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.
You didn't heard about bank insurance? If not read this maybe it will change your thoughts about what you are saying here.
Try to read below.
Banking Insurance
Exchange doesn't guarantee you a refund to many exchange has been hacked before and even now. See also how FTX currently goes at the moment since this creates huge problem to their users and there's no clear sign if they user will get a refund on their money left there. So if you think you can trust more the exchange than the bank I think you have a serious problem on your beliefs.
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.
It's so funny reading what @OP wrote because what if Binance was to be a scam? Who will recover the loss? We will never know about this and can only mourn this sadness without knowing how to get all our assets.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.
The safest, of course, is to store your assets in your personal wallet because you are in full control of all your assets and security is your full responsibility. If you know how to guard your private wallet, you don't have to worry about being hacked because you can make sure your assets are safe. There is no guarantee we will get a refund if we keep assets on an exchange because exchanges cannot be 100% safe either.
Exchangers like binance Are safer then banks and walllets.
A centralized exchange like Binance can never be considered safer than a bank just because they have refunded several users in the past after a hack... Btw you know what the say, " not your keys, not your coins" if binance chose to say they don't have the capacity to pay back if they were to be hacked you would take them nowhere but with banks they take the blame and will give back the money unless it's the users error that they lost money through phishing etc.Becouse If something happens they always refund losses.
Don't take their word for it! If these guys claim to refund for any account compromise why aren't the other exchanges using the same formula to guarantee users funds 
If you ask me its all word play trying to win customers, it's part of marketing! 
Exchangers are safe nowadays, especially Binance, we saw how they handled some hacks in the past. And banks are safe as well... after all, we trust them enough to hold funds there, to "lock" our funds for the interest we can receive by saving/staking/farming features.
But it's not like we should keep everything in the exchange or the bank, "don't put all your eggs in one basket" is an old saying. Something can happen and we can't stay without access to our funds, for all sorts of reasons. It's like that when a "third party" has control in their hands, and not you!
Exchanges and bank wallet are both safe to store our money but exchanges are preferable more than wallet because it's more safer and doesn't require the third party that would be deducting their charge from one's money. Exchange deduct absolutely zero charge, only when you want to withdraw your assets, that's only the way they will deduct charge which sometimes is not even up a dollar price. I have done countless times with TRC20 USDT address and their charge are better cheap compared to what the bank are embezzling from our account on a daily transfer. But it's not like we should keep everything in the exchange or the bank, "don't put all your eggs in one basket" is an old saying. Something can happen and we can't stay without access to our funds, for all sorts of reasons. It's like that when a "third party" has control in their hands, and not you!
Exchangers are safe nowadays, especially Binance, we saw how they handled some hacks in the past. And banks are safe as well... after all, we trust them enough to hold funds there, to "lock" our funds for the interest we can receive by saving/staking/farming features.
But it's not like we should keep everything in the exchange or the bank, "don't put all your eggs in one basket" is an old saying. Something can happen and we can't stay without access to our funds, for all sorts of reasons. It's like that when a "third party" has control in their hands, and not you!
Exchanges are one of the best method to save our money in crypto assets inother to prevent any loss of money or hacks from internet fraudsters. Binance been the safest exchange in the world presently have numerous countless numbers of those saving assets with their top exchange and they're doing their best to provide decoded securities for their users. Saving our money in bank is also saved but some people have become uncomfortable with the idea and they took a step to advance more in the system.But it's not like we should keep everything in the exchange or the bank, "don't put all your eggs in one basket" is an old saying. Something can happen and we can't stay without access to our funds, for all sorts of reasons. It's like that when a "third party" has control in their hands, and not you!
Exchangers are safe nowadays, especially Binance, we saw how they handled some hacks in the past. And banks are safe as well... after all, we trust them enough to hold funds there, to "lock" our funds for the interest we can receive by saving/staking/farming features.
But it's not like we should keep everything in the exchange or the bank, "don't put all your eggs in one basket" is an old saying. Something can happen and we can't stay without access to our funds, for all sorts of reasons. It's like that when a "third party" has control in their hands, and not you!
But it's not like we should keep everything in the exchange or the bank, "don't put all your eggs in one basket" is an old saying. Something can happen and we can't stay without access to our funds, for all sorts of reasons. It's like that when a "third party" has control in their hands, and not you!
I agree with what you think.
I'm more comfortable with simple thoughts, exchangers to trade assets and wallets to store assets.
Even though I did save some of my funds on the exchange but not all of them. I'm more comfortable keeping my assets and sharing them across multiple wallets.
I agree not to keep assets in one place. I think that's a good and wise thing because it reduces the risk of losing all the assets we have.
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.
Go talk with the people that had their coins on the FTX exchange and see if they agree with you that keeping your coins at an exchange is better than having your own wallet, now you may say that the FTX exchange and Binance are not the same and that is true, but Binance like any other centralized exchange could at some point collapse, and when that happens you are going to lose whatever money you had at the time with them. 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.
All I know is that exchanges is a good source where we can exchange our cryptocurrency to our desired currency without any stress with low fee payment. There are many exchanges in the market just like Binance which is the bigger exchanges in the world. Bank holds money but crypto exchanges hold thousands of crypto coins and tokens. Since the fiat currency is fading out gradually then even the banks and big companies are finding a shelter in cryptocurrency market because this is where people attention is going and everyone wants to invest in cryptocurrency.
At least i get refund and i sleep well
Oh, really? Well, I don't understand what you mean by losses. Like in trading or when your account gets hacked?Anyways, it was several times people are answering the disadvantage of keeping your funds in the exchanger as it was not advisable. Let us say that you get the refund now but what if the Binance wallet got hacked? Do you think they will refund you?
You can only sleep well if you have the keys to your wallet but since you don't have them and you are just relying on the security of Binance exchange, that is different. For me, I couldn't unless you are just leaving a small amount there.
You are wrong but not totally wrong and you are correct but not totally correct. Some people are afraid to hold their funds by themselves. They have short memory to keep their keys well and they cannot protect their wallets from hackers. But to people who can take care of their private wallet, exchange is not the best place for them.
Some reputable exchanges refund and they have good security architecture. Binance is safe to certain level.
Generally speaking you cannot say that your money in another man's hand is safer than your money in your hand. It is not a nice thing to think about.
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.
I am not informed about this refund thing but I think not all are covered with that and there must be strict conditions that should be followed before you qualified there. Also not all exchangers have that kind of feature but majority of them won't care if you lose your fund. They are giving disclaimers right before you use them that a user must only be responsible with their funds.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.
Exchanges like binance are centralized and they are not different with the common banks that we see outside but binance is better because they are dealing with cryptos. There's also wallet who are custodial but the one crypto users should use are the wallet which allows them to hold their keys.
Exchangers like binance Are safer then banks and walllets.
Becouse If something happens they always refund losses.
They are trying their best to do anything when something malicious attack this exchange. But still, it doesn't guarantee that you will get your money back when the attack occurs. The worst possible case is maybe they can't recover your funds and you will just cope with those losses in the future. Yes if they manage to do that. But what if the exchanges scam you, or just steal your money? Can you get a refund for that?Becouse If something happens they always refund losses.
But wallet, especially if you have hardware wallet for instance. You can always check everything because the wallet is in your hand, so if something bad happens it's all yours to put a blame on.
Every wallet or place to put your money in are at risks to be stolen but the way people/exchanges manage to secure the money is what makes they all have differences.
Not your keys, not your wallet, and most of all, that's the scariest part because you don't have any control of your funds no matter how reputable a certain exchange is. Hardware wallets and cold wallets are much safer in my opinion, because you hold your own keys and funds, I guarantee that's much better and will let you sleep at night more peaceful.
You give right to stealing ?
All the crypto business is going on exchangers not in wallets.
Futures options Are on exchangers spot trading don't Feed us but futures and options margins Are what making income.
Not your keys, not your wallet, and most of all, that's the scariest part because you don't have any control of your funds no matter how reputable a certain exchange is. Hardware wallets and cold wallets are much safer in my opinion, because you hold your own keys and funds, I guarantee that's much better and will let you sleep at night more peaceful.
Now a days, I believe that few exchange like binance, kucoin, hitbtc are better than banks and wallets. Some secure systems are given in the exchange which is good for us. Most important thing, you should secure your private key and your wallet password or pin code.
Congrats smart comment finallly here yes you say right thing binance are better then Banks many people transfer their wealth on binance becouse it's safer then Banks becouse binance Are the crypto Center
You are wrong but not totally wrong and you are correct but not totally correct. Some people are afraid to hold their funds by themselves. They have short memory to keep their keys well and they cannot protect their wallets from hackers. But to people who can take care of their private wallet, exchange is not the best place for them.
Some reputable exchanges refund and they have good security architecture. Binance is safe to certain level.
Generally speaking you cannot say that your money in another man's hand is safer than your money in your hand. It is not a nice thing to think about.
Exchangers are safe nowadays, especially Binance, we saw how they handled some hacks in the past. And banks are safe as well... after all, we trust them enough to hold funds there, to "lock" our funds for the interest we can receive by saving/staking/farming features.
But it's not like we should keep everything in the exchange or the bank, "don't put all your eggs in one basket" is an old saying. Something can happen and we can't stay without access to our funds, for all sorts of reasons. It's like that when a "third party" has control in their hands, and not you!
But it's not like we should keep everything in the exchange or the bank, "don't put all your eggs in one basket" is an old saying. Something can happen and we can't stay without access to our funds, for all sorts of reasons. It's like that when a "third party" has control in their hands, and not you!
There is no argument here i believe everyone operate based on their experience has far crypto wallet usage is concerned. If OP feels custodial wallet gives a better security and usefulness to coin then it is fine but hope there will be no future thread by same user condemning CEX in the future because it never always end the way it started something horrible will always come in to the picture
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.
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.
As far as I know, cryptocurrency is the best way to exchange money as long as you are sure of the crypto coin you are going to exchange for your capital or savings. But not to the point that the exchange platform is safer compared to the bank, Yes, Binance is one of what we can say is a stable exchange here in this field industry and is known in this business, But let's admit to ourselves that even though it is stable and among the Binance is the top exchange in the market, it has been hacked several times, although the Binance exchange system blocked it immediately so they resolved it immediately, Binance was still robbed.
In short, all exchanges in cryptocurrency still have a real risk, it's really up to us how much value we leave here, so some of us here say only leave the amount you are ready to lose, not almost all of it of your savings, put it in a crypto exchange, or if you put cryptocurrency and save it, it's better that you hold your private key or seed phrase, no one else.
People do business in exchangers we stake we trade we use leverage it's like NASA or hospital you cant just close it.
That's why big guys are close to exchangers binance is backed up wall Street.
If something happens then who gona belive in crypto anymore ??
If they close it they get coins and USDT but those are worthless without people who's using it.
It's a whole big crypto economy USDT USDC busd and btc and other crypto you cant just close it it went too far.
The intrinsic value of cryptocurrencies is independent of the exchanges (except for coins issued by exchanges), there are some cryptocurrencies that have an inherent utility that will not be lost by the influence of the exchange, and they still have value transacted on a p2p basis. But it is undeniable that most of today's crypto holders are traders, if the exchange problems affect prices then the market reaction is not a question of confidence, but another concern of avoiding the risk of loss due to massive selling. That's why big guys are close to exchangers binance is backed up wall Street.
If something happens then who gona belive in crypto anymore ??
If they close it they get coins and USDT but those are worthless without people who's using it.
It's a whole big crypto economy USDT USDC busd and btc and other crypto you cant just close it it went too far.
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.
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.
You are wrong but not totally wrong and you are correct but not totally correct. Some people are afraid to hold their funds by themselves. They have short memory to keep their keys well and they cannot protect their wallets from hackers. But to people who can take care of their private wallet, exchange is not the best place for them.
Some reputable exchanges refund and they have good security architecture. Binance is safe to certain level.
Generally speaking you cannot say that your money in another man's hand is safer than your money in your hand. It is not a nice thing to think about.
I don't want to hear this crap anymore
If you think keeping your coin on exchange is the best, then you can go ahead nobody is stopping, since you already made up your mind then you are free, it's your money, if anything happens to it then you will be the one to lose not me, so you can leave all your funds on exchange, but whenever anything happens to your money you shouldn't come here and complain.Also am sure some newbies will be reading this post, I don't want you to mislead them.
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.
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.
This is completely wrong. Binance is currently refunding their customers after any incident, as long as they have the amount of funds they were able to refund. But if they face a massive any incident that puts them in such situation then they will have no words except to say "Sorry" to their customers. Then the trader will be stuck there. So be careful and don't trust any exchange blindly, the mighty today can also be the loser tomorrow.
then it would really be that hard on at least making that compensation or patching up on whats been lost.This is why its never been a good thing or ideal on trusting up 100% of these platforms.
Im aint saying that Banks and wallets are much safer but we should not make ourselves not too get blinded or being too confident on things that do happens around currently.
Everything could really happen in a snap and this is why we should really be that careful.
Exchangers like binance Are safer then banks and walllets.
No, genuine and experienced crypto investors will agree with you on this one because everything you said is totally false and I believe you'll ignore everything you said here in the future when you experience a worse situation with exchange like Binance.
Becouse If something happens they always refund losses.
Binance have done this many times and i know there someone to watch over my wealth.
This idea was created by Binance to gain the crypto community's trust but have you wondered where the fund they used to refund the losses come from? Its actually come from you because Binance charge ridiculous withdrawal fee especially for BTC.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.
If rivate crypto wallet is hacked is totally though the human error of the wallet owner. We live of generation of refund, in crypto main thing Are refund what i did learn about.
At least i get refund and i sleep well
I think what's happening currently to FTX exchange should have teach lot's of people not to leave their coin on exchange, the only thing I always advice people to do is to immediately transfer their coin from exchange after buying it to your non custodial wallet address, we have seen lot's of exchanges being hacked in history of crypto and lot's of people have lost their money, I think you are talking like this because you haven't experienced exchange hack before, but its really a bad advice leaving your coin on exchange.Incase their is no hack, exchange can decide to freeze your account any moment and they will definitely give you reason that you go against their rules. Always avoid leaving your coin on exchange, anything can happen to any exchange any moment.
Refund Will be FTX have full responsebility actially the owner have liabilities.
Don't take other people money then If you cant have responsebility If your mistake you pay , it's Simple as that
People need to start Taking responsebility you cant just take money and say i just took it.
I don't want to hear this crap anymore
At least i get refund and i sleep well
I think what's happening currently to FTX exchange should have teach lot's of people not to leave their coin on exchange, the only thing I always advice people to do is to immediately transfer their coin from exchange after buying it to your non custodial wallet address, we have seen lot's of exchanges being hacked in history of crypto and lot's of people have lost their money, I think you are talking like this because you haven't experienced exchange hack before, but its really a bad advice leaving your coin on exchange.Incase their is no hack, exchange can decide to freeze your account any moment and they will definitely give you reason that you go against their rules. Always avoid leaving your coin on exchange, anything can happen to any exchange any moment.
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.
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.
This is completely wrong. Binance is currently refunding their customers after any incident, as long as they have the amount of funds they were able to refund. But if they face a massive any incident that puts them in such situation then they will have no words except to say "Sorry" to their customers. Then the trader will be stuck there. So be careful and don't trust any exchange blindly, the mighty today can also be the loser tomorrow.
People do business in exchangers we stake we trade we use leverage it's like NASA or hospital you cant just close it.
That's why big guys are close to exchangers binance is backed up wall Street.
If something happens then who gona belive in crypto anymore ??
If they close it they get coins and USDT but those are worthless without people who's using it.
It's a whole big crypto economy USDT USDC busd and btc and other crypto you cant just close it it went too far.
So it's like electricity or water system.
After believing all these backup stories, think about how correct it is to think of the exchange as a bank. Exchanges are the worst place to hold funds, any exchange is safe until the black chapter of that exchange comes out. Any experienced trader, investor tries their best to keep their funds safe. I can't keep my funds anywhere on someone's word, anything can happen at any time and they can refuse to return my funds.
So be careful not only binance but any exchange. I have no confidence in your words, I think all this is not so easy as you think. So give priority to caution rather than influencing people in the wrong direction.
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.
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.
This is completely wrong. Binance is currently refunding their customers after any incident, as long as they have the amount of funds they were able to refund. But if they face a massive any incident that puts them in such situation then they will have no words except to say "Sorry" to their customers. Then the trader will be stuck there. So be careful and don't trust any exchange blindly, the mighty today can also be the loser tomorrow.
People do business in exchangers we stake we trade we use leverage it's like NASA or hospital you cant just close it.
That's why big guys are close to exchangers binance is backed up wall Street.
If something happens then who gona belive in crypto anymore ??
If they close it they get coins and USDT but those are worthless without people who's using it.
It's a whole big crypto economy USDT USDC busd and btc and other crypto you cant just close it it went too far.
So it's like electricity or water system.
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.
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.
This is completely wrong. Binance is currently refunding their customers after any incident, as long as they have the amount of funds they were able to refund. But if they face a massive any incident that puts them in such situation then they will have no words except to say "Sorry" to their customers. Then the trader will be stuck there. So be careful and don't trust any exchange blindly, the mighty today can also be the loser tomorrow.
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.
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.
Exchanges are the worst place to keep your funds. Op you have wrong impression on wallets. Use hardware wallets or probably Ledger to store your funds. These are the best and secure method to keep your funds safe. The reason for which I am saying that exchanges are not safe is that, it don’t give complete access to our own coins, and by somehow they have access to our coins. Moreover already there are many examples in the history where there was security breach in exchanges and for which the coins are stolen from exchanges.
If your coins indeed were safe with exchanges, why have all suspended withdrawals (for 24 hours plus) due to unscheduled maintenance (I'm not sure about coinbase but I remember binance having a 48 hour one - some exchanges have been known to start manually confirming withdrawals too which doesn't make sense - if it was because you expected some accounts could cheat, why wouldn't you just tell them specifically and not affect everyone else). I'd expect any problem exchange side to be fixed within 2 hours or for them to have a float (/hot wallet) of funds they can still use to process withdrawals and don't mine losing in case a vulnerability persists.
The main reason exchanges have closed so far is due to mismanagement of funds, don't trust when there's no reason to. It might not take many conspiring individuals to completely empty an exchanges wallet in future too.
The main reason exchanges have closed so far is due to mismanagement of funds, don't trust when there's no reason to. It might not take many conspiring individuals to completely empty an exchanges wallet in future too.
@OP, what was your worst experience from a bank? Afaik, banks are closer to government oversight and they're more responsible for your money.
One case binance may consider you to retract your remarks[1]. Binance in some clauses follows the rules of crypto mechanisms in general such as transactions are irreversible, withdrawal speed depends on network traffic, etc.
1. https://bitcointalksearch.org/topic/binance-stuck-my-withdrawal-5370726
One case binance may consider you to retract your remarks[1]. Binance in some clauses follows the rules of crypto mechanisms in general such as transactions are irreversible, withdrawal speed depends on network traffic, etc.
1. https://bitcointalksearch.org/topic/binance-stuck-my-withdrawal-5370726
Worse, you're talking to the new polo7 and 325btc clones, when they taking a break and are not talking to each other.
Interesting. Then we have a ban evader.
I've added him to my ignore list and will also report him.
I dont agree i belive Same things becouse i went Same economy course with polo7 he knows economy very well so i learn from Him but 325 i dont know about probably 325 might be student of polo7
Worse, you're talking to the new polo7 and 325btc clones, when they taking a break and are not talking to each other.
Interesting. Then we have a ban evader.
I've added him to my ignore list and will also report him.
But I seem to talk with walls, so I let you in your dream world.
Worse, you're talking to the new polo7 and 325btc clones, when they taking a break and are not talking to each other.
The same ideas he has posted a hundred times with each of his identities, cex are good, stablecoins are better than bitcoin and better than fiat, the economy that is going to be destroyed and can be saved with printing tokens, etc etc.
Cryptocurrency Exchangers are the ones who is motivated to keep our money in safe!
Otherwise People take a money out of there!
So yes They are our Banks!!
New generation banks
Cryptocurrency Exchangers fully recover all the losses!!
If anyone Will complain about cryptocurrency Exchanger stolen funds its a red Alert for all cryptocurrency generally When People Don't trust They just Go away from cryptocurrency Right Now its safe no problems!!
So cryptocurrency must be secure our wealth Very seriously wich They do it
Otherwise People take a money out of there!
So yes They are our Banks!!
New generation banks
Cryptocurrency Exchangers fully recover all the losses!!
If anyone Will complain about cryptocurrency Exchanger stolen funds its a red Alert for all cryptocurrency generally When People Don't trust They just Go away from cryptocurrency Right Now its safe no problems!!
So cryptocurrency must be secure our wealth Very seriously wich They do it
Also, just as a heads-up he also has another alt that is just posting the same garbage and they have gone one step further congratulating each other on their views
https://bitcointalksearch.org/topic/loan-is-key-to-wealth-here-is-how-without-liability-5420265
Exchangers like binance Are safer then banks and walllets.
You have to be kidding right, after everything that has happened lately and with the exchanges track record so far.No, he's not kidding and he's not even trolling, he actually believes this crap, just as he believes a lot of the stuff he has posted with both this new one and his other three to five as I've lost count of his accounts. So just like NeuroticFish fish above, sorry to bring you the bad news that you've completely wasted your time with him, and also, don't try further, it's impossible to have a discussion, you're talking to the walls and he is yelling back at you.
I have group of traders who have Same mindset together we can win.
No, he's not kidding and he's not even trolling, he actually believes this crap, just as he believes a lot of the stuff he has posted with both this new one and his other three to five as I've lost count of his accounts.
But I seem to talk with walls, so I let you in your dream world.
Worse, you're talking to the new polo7 and 325btc clones, when they are taking a break and are not talking to each other.
The same ideas he has posted a hundred times with each of his identities, cex are good, stablecoins are better than bitcoin and better than fiat, the economy that is going to be destroyed and can be saved with printing tokens, etc etc.
Cryptocurrency Exchangers are the ones who is motivated to keep our money in safe!
Otherwise People take a money out of there!
So yes They are our Banks!!
New generation banks
Cryptocurrency Exchangers fully recover all the losses!!
If anyone Will complain about cryptocurrency Exchanger stolen funds its a red Alert for all cryptocurrency generally When People Don't trust They just Go away from cryptocurrency Right Now its safe no problems!!
So cryptocurrency must be secure our wealth Very seriously wich They do it
Otherwise People take a money out of there!
So yes They are our Banks!!
New generation banks
Cryptocurrency Exchangers fully recover all the losses!!
If anyone Will complain about cryptocurrency Exchanger stolen funds its a red Alert for all cryptocurrency generally When People Don't trust They just Go away from cryptocurrency Right Now its safe no problems!!
So cryptocurrency must be secure our wealth Very seriously wich They do it
Also, just as a heads-up he also has another alt that is just posting the same garbage and they have gone one step further congratulating each other on their views
https://bitcointalksearch.org/topic/loan-is-key-to-wealth-here-is-how-without-liability-5420265
Exchangers like binance Are safer then banks and walllets.
You have to be kidding right, after everything that has happened lately and with the exchanges track record so far.No, he's not kidding and he's not even trolling, he actually believes this crap, just as he believes a lot of the stuff he has posted with both this new one and his other three to five as I've lost count of his accounts. So just like NeuroticFish above, sorry to bring you the bad news that you've completely wasted your time with him, and also, don't try further, it's impossible to have a discussion, you're talking to the walls and he is yelling back at you.
Nothing wrong with Fiat as long as they print it and give to me 
And you're wrong again. A lot is wrong with fiat (it's an overly manipulated and inflationary IOU that is based on you trusting on institutions that are not as trustable as they are advertised). But I seem to talk with walls, so I let you in your dream world.
We live of generation of refund, in crypto main thing Are refund what i did learn about.
What if Binance get hacked and i don't mean your personnal wallet on their exchange, the entire exchange will there still be a refund? And even if they do it will take a very long time and obviously getting the exact worth of the coin left in their exchange is impossible.Hardware wallet gives full control and decentralisation it gives this peace one gets when they know their funds is in safe hands. When seeking a wallet to save coin never trust CEXs they can disappear at any time even Binance is not too big to abscond. Imagine if multiple users get their account hacked in one day picture how long it will take to get a refund....
Exchangers like binance Are safer then banks and walllets.
You have to be kidding right, after everything that has happened lately and with the exchanges track record so far.Becouse If something happens they always refund losses.
Yeah, right. They may cover some smaller loses due hacks, but when shit hits the fan (like in FTX case) you will see how they "always refund losses".Binance have done this many times and i know there someone to watch over my wealth.
Yes, what we would do without dear CZ and him watching over our wealth.Private wallets they can be hacked but nobody dont refund.
Yes, because if you get hacked it no one else's fault by your own. Man up, take responsibility for your actions instead expecting someone else to do it better for you. We live of generation of refund, in crypto main thing Are refund what i did learn about.
Then unfortunately you learned nothing.Nothing wrong with Fiat as long as they print it and give to me
Ever heard for something called inflation? Crypto refunds are more easy they can create coin
I don't know, maybe Binance can create BNB, maybe FTX could create FTT. But they cannot create Bitcoin, they cannot create Ethereum, they cannot care the honest valuable coins. They're not central banks and the coins are not just "printed paper". That's why we are leaving the fiat behind.
Even more, if they do create their (shit)coins out of thin air to pay their customers, those coins will become worthless as soon as people find out.
Nothing wrong with Fiat as long as they print it and give to me
Im not against fiat system Im against that there is limited options to get those Fiat currency in my pocket
I don't Care about If its worth or not i care only how any currency come in my pocket more is good
Crypto refunds are more easy they can create coin
I don't know, maybe Binance can create BNB, maybe FTX could create FTT. But they cannot create Bitcoin, they cannot create Ethereum, they cannot care the honest valuable coins. They're not central banks and the coins are not just "printed paper". That's why we are leaving the fiat behind.
Even more, if they do create their (shit)coins out of thin air to pay their customers, those coins will become worthless as soon as people find out.
Well we all know much now FTX people will get refund so yes safe
Sorry to say, but people's wishes is not what reality is. As much as I hope FTX will refund, I fear that the chances that not to happen are... increasingly high.
Exchangers like binance Are safer then banks and walllets.
Becouse If something happens they always refund losses.
Becouse If something happens they always refund losses.
Actually there were plenty of cases there were no refunds, even in the more recent history.
Even more, at least in Europe the banks are regulated and the deposits until 100k EUR are refunded by the state, no matter what. By the law. This doesn't happen with exchanges and they will refund only if they can (not insolvent) and want to (eg if not under some odd jurisdiction they can get away without paying).
Binance have done this many times and i know there someone to watch over my wealth.
Binance is one of the exchanges. For now, they did refund and this increased their popularity. What will happen in the future or with other exchanges... I would not take chances.
Private wallets they can be hacked but nobody dont refund.
Private wallets are ... private responsibility. Even if you're not tech inclined you can buy a hardware wallet and your funds are pretty much safe (unless you publish online the backup seed).
We live of generation of refund, in crypto main thing Are refund what i did learn about.
You live in a dream world. I wish your dreams come true, but I fear that if you continue on this path, sooner or later a cold shower awaits you.
Crypto refunds are more easy they can create coin
Well we all know much now FTX people will get refund so yes safe
Sorry to say, but people's wishes is not what reality is. As much as I hope FTX will refund, I fear that the chances that not to happen are... increasingly high.
Exchangers like binance Are safer then banks and walllets.
Becouse If something happens they always refund losses.
Becouse If something happens they always refund losses.
Actually there were plenty of cases there were no refunds, even in the more recent history.
Even more, at least in Europe the banks are regulated and the deposits until 100k EUR are refunded by the state, no matter what. By the law. This doesn't happen with exchanges and they will refund only if they can (not insolvent) and want to (eg if not under some odd jurisdiction they can get away without paying).
Binance have done this many times and i know there someone to watch over my wealth.
Binance is one of the exchanges. For now, they did refund and this increased their popularity. What will happen in the future or with other exchanges... I would not take chances.
Private wallets they can be hacked but nobody dont refund.
Private wallets are ... private responsibility. Even if you're not tech inclined you can buy a hardware wallet and your funds are pretty much safe (unless you publish online the backup seed).
We live of generation of refund, in crypto main thing Are refund what i did learn about.
You live in a dream world. I wish your dreams come true, but I fear that if you continue on this path, sooner or later a cold shower awaits you.
This is first time someone has come up with the idea that Exchangers are safer. We are already in the privacy driven market and there are only two things either you are the custodian or you are not the custodian of your coins. I highly doubt any exchanger would give away money for the hacks and shits to incur that loss in their own business. Unless it’s highly special and genuine case.
Define safety of your coins? In the world where we can’t even trust a penny next door you are claiming an exchanger would take care of our funds. That’s insane thought and you better upgrade it or it could put up wrong trust with your funds in someone’s hand.
Define safety of your coins? In the world where we can’t even trust a penny next door you are claiming an exchanger would take care of our funds. That’s insane thought and you better upgrade it or it could put up wrong trust with your funds in someone’s hand.
Well we all know much now FTX people will get refund so yes safe
This is first time someone has come up with the idea that Exchangers are safer. We are already in the privacy driven market and there are only two things either you are the custodian or you are not the custodian of your coins. I highly doubt any exchanger would give away money for the hacks and shits to incur that loss in their own business. Unless it’s highly special and genuine case.
Define safety of your coins? In the world where we can’t even trust a penny next door you are claiming an exchanger would take care of our funds. That’s insane thought and you better upgrade it or it could put up wrong trust with your funds in someone’s hand.
Define safety of your coins? In the world where we can’t even trust a penny next door you are claiming an exchanger would take care of our funds. That’s insane thought and you better upgrade it or it could put up wrong trust with your funds in someone’s hand.
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.We live of generation of refund, in crypto main thing Are refund what i did learn about.
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
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.We live of generation of refund, in crypto main thing Are refund what i did learn about.
They have to refund
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. We live of generation of refund, in crypto main thing Are refund what i did learn about.
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.
Exchangers like binance Are safer then banks and walllets.
WrongGo 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
Exchangers like binance Are safer then banks and walllets.
WrongGo 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.
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.
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.
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