Topic: Exchanges allowing fixed monthly investment in BItcoin - page 2. (Read 362 times)

If you really want to store bitcoin in the exchange and you are forced to, maybe it is better to use DEX (decentralized exchange), because you just connect your wallet address here. It depends on which network you use, because, as far as I know, it is also possible to store bitcoin using a metamask.

And this is the transaction link on how to transfer bitcoin to Metamask. Just read and follow the instructions on how to do it, as long as you understand it correctly, so you don't make a mistake.

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https://cointelegraph.com/news/how-to-store-bitcoin-on-metamask
https://www.youtube.com/watch?v=BpufIlp5xY8

OP you should have been aware of this before now. Am surprised you are still searching for an exchange where you will give away your money. If you are really interested in Bitcoin, then you should get a wallet wfor storing them. Any time you want to buy some you buy you deposit your fiat buy your bitcoin and send it back to your wallet. Simple as that. Stop risking your funds and your investments. Centralized exchanges are not advisable for storing Bitcoin you may lose your entire fortune if you ignore what i just said. If you dont know a good wallet then you should try Electrum it is one of the most recongnizable as of now.

Although, I also object to the OP because he is looking to store his bitcoins on centralized platforms, which is quite risky. But I will not agree with you that, all centralized exchanges are planning to scam investors' bitcoins. They do not force you to store your bitcoins on their platform, you come to them voluntarily, so how can you say that they are planning to scam you? Furthermore, not all exchanges are scams or will collapse, there are still some exchanges that are still doing well today. For example, Coinbase is an exchange that has been around since 2012 and have you seen them scam anyone? Don't use the exchange the wrong way and blame them when the choice is yours.

You're right, Exchanges offers low rate, also your coins might not really be there. What you see is a promise that if you ask for your bitcoin, they will give it to you. But if the exchange gets hacked or if the CEO fakes his identity and takes the private keys or if the government steps in, all coins could go into their pockets. It's better not to leave your coins in exchange, to eliminate the risk, withdraw your coins now.

I don't understand if OP wasn't in this forum and how come he doesn't know that it is gambling when you leave your coins in an exchange, or is it greed of making profit that has taken over him that made him to ask this question. Bitcoin is best kept in a noncustodial wallet and you have to invest in a long term for you to benefit from your investment.

If you are the type of investor that think bitcoin is a get rich quick scheme, you are getting it wrong because bitcoin investment needs patience and discipline to reap from it. Exchanges will such offers have plans to scam you of your bitcoin.

Frankly speaking, exchanges are also a part of the cryptocurrency industry and even an indispensable part. I believe that all cryptocurrency investors will at least use 1 or 2 centralized exchanges, only a rare few will use no centralized exchanges at all. We should not deny the role of centralized exchanges and their contributions to the cryptocurrency industry.

You're right, using a centralized exchange is not as bad as many people are saying. And if we use them for the purpose for which they were created such as exchanging, buying, selling, converting...then there is nothing wrong here. But if we use them for long-term storage then it is really a wrong decision.

Before you invest in Bitcoin, you should know what the main goal of Bitcoin, and that is to protect privacy and security. And in this case, if you choose these exchangers to keep your funds, then the privacy of your personal data will not be protected here. Yes centralized exchangers also have reputable exchangers but your funds are never safe in centralized exchangers. Yes centralized exchangers also have reputable exchangers but your funds are never safe in centralized exchangers. You should go for non custodial wallet where you will get security of your funds that is more in case of Bitcoin.

If you don't trade peer to peer, in person face to face, you will need an exchange to buy and sell Bitcoin. Nothing wrong if you need an exchange for your buying and selling.

The wrong is if you need an exchange to store your bitcoin there, long or longer than you need. Because storing bitcoin on exchanges means you can lose your coins anytime.

If you afford to lose your bitcoin anytime, go next with exchange account as your bitcoin wallet. I don't recommend it and many expert neither advise to do it like here, there.

Why are you looking for exchanges, buddy? It seems you got some air-droppedd merits, which means you are here for awhile, but didn't you read any threads where authors warned readers that you should not keep your money on online accounts? Theymos has wrote a thread with this title. Yet you are searching for an exchange to invest.

I have seen atomic wallet where you could stake your crypto's (Not Bitcoin) and make some money. But since the last hack of Atomic wallet, I do not trust them anymore. So, I recommend not to use any kind of centralized exchanges to stake your money.

Have you forgotten the collapse of FTX last year and the loss of hundreds of billions of dollars? FTX was once considered one of the top exchanges and was even ranked second only to Binance. But then you saw what happened, millions of investors still haven't received any compensation even though they were promised a lot. I believe this will also be the 2nd Mt.gox, they will promise and promise but never give you your money back.

What percentage of interest will you get on the 1BTC you stake? 5% or 10%? While the risk you will face is losing all the bitcoins you have. Do you think it's worth the risk?

You are required to deposit bitcoin on them for a certain period of time. Do you think that it is worth it? With all the news left and right about exchanges being hacked, are you confident with that?

Sorry to say but just keep your Bitcoin on your non-custodial wallet.

And with that, peace of mind is priceless when you know that your Bitcoin is being kept safely by you.

Don’t put your money on exchanges unless you’re going to send crypto or you’re going to trade cryptocurrencies. With what happened to FTX you would@?3 expected people to be more responsible when handling their crypto but we still gotta inform them every week to about “not your keys, not your coins”. In any case just use a coldxwallet and set a reminder for yourself ever month or so. If you’re looking to DCA tht’s the most consistent and safest option out there, and most of all you’re not going to pay for taxes and fees when you transfer these coins into your wallet, so it’s a massive win-win for you. Using cold wallets are easy too, just find the one that suits you the best and you’re good to go.

Obviously, your coins are more secure if you put them in a Lectrum wallet, sparrow wallet, metamask, unstoppable, or hodl. This is if you don't buy a hardware wallet, but if you do, it's better to buy one.

Because if you buy from an exchange, it will not appear that you are the one in control of your coins here because it is centralized, where they can freeze or hold your account on such platforms at any time. And when that happens, you have no objection to recovering the assets that are on the exchange platform.

This is strange really coming from an old member like yourself I mean by now, I think you would have been familiar with the term of not your keys not your coins because exchanges are really the best place for one to have the certainty that his or her coin is safe because you don't actually have full control of what might happen to your coins if you actually save your coin in an exchange. This theory has been prove series of time as we all see exchange crash all of a sudden leaving investor stuck with the regret of not moving their coins to their own wallet.

Full member rank, and you are yet looking for an exchange that will pay you just a little nonsensical profit, whereas your asset is put at risk. Before you grow from brand new to the rank you are now, you are supposed to know the rules of "not your key, not your coin." You are supposed to have read about the issues that Binance Exchange was faced with some months ago; you should have read about how the FTX exchange collapsed; you are supposed to have read the news about one exchange called Precillia or whatever, but you should have read how it collapsed. You should have read about so many warnings regarding maintaining a successful investment. All that information is in this forum.

Some months ago, when the transaction fee for Bitcoin was very high, Binance Exchange disabled withdrawals. So what if the withdrawal was disabled at the time you wanted to make use of your asset? OP, Bitcoin is not centralized; be very wise not to store your coins on centralized exchanges or platforms.

Seems you want to apply the DCA method but your means of achieving this seems to be risky. Like many have already advised here, centralized exchanges is not the right place to save your Bitcoin.

I understand that withdrawals can eat up significant portion of the investment if you have to be buying small amounts regularly and transferring to your private wallet. You can do it cumulatively to reduce the fees. You can deposit and buy then withdraw I two months interval or as you choose but never to save the coin in the CEX. 

Alternatively, you can use any of the numerous decentralized exchanges.

Once again, never save your funds where you do not control the provate key

The two statements you have mentioned are against and contradict each other. What do I mean here?

First of all, once you send money in an exchange, for whatever purpose, it's like you share the authorization of your funds with a third party. Therefore, if some epic failed shit happened on that exchange, your money will also be doomed and the worst, you won't now be able to ever touch your funds for good.

If you fully understand the risks, you can consider checking the Binance Earn feature as it might be close to what you are looking for. But before you proceed, I told you that exchange for education and feeding your mind purpose. Some additional knowledge on what can you expect once you push that idea and I hope you can realize and understand if it's worth trying or not.

Oh, dear what are you talking about here, Not even on a  single centralized platform your funds are secure, Here on Bitcointalk I have mastered one of f the key lessons you can say the top-tier Earth Class technique (In anime terminology) that Not_Your Key_Not Your_Funds.

On any close source Self Cutotidal and Centralized Custodial wallets, your funds are at great risk, and more on that your privacy is worth nothing there. So my friendly advice here is that please never prefer any centralized platform to store your funds better choose a good non-custodial (Self Custodial wallet).

Actually my thought about this, Any exchange would love to see a monthly deposit from a single user so OP can basically use any existing exchange we have on the internet. But there would be some major issues especially with the security. OP should know how risky is it to store your bitcoins in an exchange, as far as I know, they are not liable with their users losses once they got attacked by hackers, or any breaching incidents that caused their platform to go bankcrupt. Best, if you could store it in your personal possession, don't think about the annual profit you can get from storing it to exchanges, think about how much bitcoin you can get in a year.

I know an exchange that can do that for you but for that you'll have to download an open-source wallet software like Electrum and then create your own personal wallet on that wallet software. Once your wallet is created then you'll have to save your seed words and private keys.

Never share the private keys and seed phrase with anyone and write those on a paper as well as save those on a SSD and then copy your wallet address and disable the internet on the computer where you have installed your wallet software and never connect it on internet again. You'll only need that wallet address that you have generated and other than that you don't need anything else.

Now you can use any centralized exchange or decentralized exchange to buy Bitcoin and once you have bought the Bitcoin then withdraw those Bitcoin into the wallet address that you have copied. You can do that every month by buying Bitcoin on those online exchanges and withdrawing those Bitcoin into your own personal wallet that I referred as an exchange in order to make your Bitcoin secure.

That's the most secure way to buy and store Bitcoin and you'll never have to worry about any theft or any other issue as long as you don't use your seed phrase or private key on any other computer. The moral of this post is to never trust the exchanges that have control over your keys because if the keys are not yours then the coins aren't yours. In Bitcoin investment trusting anyone can be dangerous and trusting online wallets is the stupidest thing that anyone can do.