I understand actually but it depends on the CEX you’re using, I once posted an article on how to choose your choice of CEX and another thing is “Do not base your investment on people’s opinion or advice always DYOR”
So why are you talking like you have not done your own research? Because if you have done your own research, you will know how centralized platforms are not advisable for staking or investment.
I will advice you to stake on noncustodial wallet instead, if you want daily APR return.
Staking on noncustodial wallet has been in existence since and it as proven to work in Ponzi format as a lot of friends lost money there already. This isn’t an argument anyways, you choose the right CEX and you’re going to enjoy CEX investments.
Like seriously,one can stake on a noncustodial ? Nah.. I can see that you are so carried away with the stake thing on CEx. You cant loss your bitcoin when it is in a noncustodial wallet which only you have the keys to. When you are greedy and looking for money where you don't want to work or invest on,you will end up losing what you gat. It isn't safe to keep your coins on a Centralized exchange,much more of staking your coins there. The possibility of you losing your coins is 50-50. I hope that this topic is about bitcoin and if it is not,I will advise you to move this thread to alternative cryptocurrency board. Invest wisely and don't be decieved with high APR.
I think you need to do more research! You can stake on non custodial wallet!
I understand actually but it depends on the CEX you’re using, I once posted an article on how to choose your choice of CEX and another thing is “Do not base your investment on people’s opinion or advice always DYOR”
So why are you talking like you have not done your own research? Because if you have done your own research, you will know how centralized platforms are not advisable for staking or investment.
I will advice you to stake on noncustodial wallet instead, if you want daily APR return.
It seems that he understands the risks of staking on centralized exchanges and he has taken the risk to achieve the amount of return he deems worth the risk he is taking. I am neither for nor against as long as he has done the research and is willing to take the risk of leaving his assets on those centralized platforms. it is the choice of each person. for me, if we want to make profit every day then we should learn about trading.
If it's a long-term investment, just hold it in a non-custodial wallet.
This is a good point of view.
l don't think investing in a centralized platform is a good idea, as there is a high tendency of big risk and losing money. Majority of the centralized investment platforms are not trustworthy according to very reliable source. As for me, l have invested in bitcoin in a decentralized platform and made reasonable gain, and l' m still into it currently.
The same way have invested in some centralized exchanges, and to the best of my knowledge it is profitable.
You can try it on Binance, KuCoin, and several other exchanges. That can be a way for you to generate a decent return but it will depend on how much amount you use. But that is if you are okay with the risk because holding on to an exchange comes with risks. Not your keys and not your coins.
Oh cool, have you tried it there?
I've tried BTC, XRP and cardano. Think to try ETH
It’s a good one though, did you use CEX or DEX
If you are just holding your asset in a centralized exchange it's a big no because it's their coin, not yours because you don't have a fully authorization with your asset still there's a limit on this access, instead if you are just holding your coins better to use a hot or cold wallet, the essence of the crypto is the anonymity but because of this kind of services of being convenient the centralized platform removes it, you can get an idea here with GazetaBitcoin content related to the things I'm talking about
12 years later and people still don't know to use Bitcoin nor what it's good for. Also take care with different projects and hype better to make sure those investment you are joining is reliable and brings you a profit and not get honeypot.
Good insight and definitely CEX are not bad.
I only tried to invest in casino bankroll in few years ago, but now I already leave any centralized platform.
Banks are regulated by the government and there's an institution willing to give an insurance in case the bank went to bankrupt, bur as a Bitcoin enthusiast, centralization isn't never been safe. While Binance, Coinbase, Kucoin, DEFI etc aren't regulated, if their exchanges went to bankrupt, it's over and there's no such insurance. Just like FTX bankrupt, the punishment is SBF going to jail, that's it.
Don’t do casino, flexible trading is okay. Bitget is okay for flexible savings.