I’ve been seeing a lot of talk about their high fees, some claims of scamming people into selling BTC, and issues with the law.
Edit: If the answer is yes, can anyone suggest trustworthy apps
I’ve not faced any issues with them and their support is top-notch for big exchanges
Just avoid using a centralized exchange for keeping your funds. Buy your coin and transfer it to your wallet
Austin said:
Just avoid using a centralized exchange for keeping your funds. Buy your coin and transfer it to your wallet
What about earning interest on it? Isn’t it better to use some BTC instead of just holding on to it
@Brynn
It’s your choice but remember this: if you don’t have it in your wallet, it’s not really yours.
Many, including myself, learned that the hard way when FTX went down.
Austin said:
@Brynn
It’s your choice but remember this: if you don’t have it in your wallet, it’s not really yours.
Many, including myself, learned that the hard way when FTX went down.
Good advice, I’ll keep that in mind. Is a hot wallet like MetaMask safe, or should I look into a cold wallet
@Brynn
Cold wallets are safer
I’ve been using Binance for some time now. I think they’re really good. Their software is reliable and their APIs are the best around
Best practice is to not trust anything. Don’t keep your crypto on exchanges. Self-custody is the way, use decentralized exchanges when you can
MintMingle3 said:
Best practice is to not trust anything. Don’t keep your crypto on exchanges. Self-custody is the way, use decentralized exchanges when you can
Are fees lower on decentralized exchanges
@Washington
It depends on the DEX and what you are buying, but usually yes if you compare it to Coinbase. I’m not sure about Binance since I can’t use it in my country
MintMingle3 said:
@Washington
It depends on the DEX and what you are buying, but usually yes if you compare it to Coinbase. I’m not sure about Binance since I can’t use it in my country
Which DEXs would you recommend? I dislike KYC
MintMingle3 said:
@Washington
It depends on the DEX and what you are buying, but usually yes if you compare it to Coinbase. I’m not sure about Binance since I can’t use it in my country
Are you in Canada
They’re fine but that whole trading against their customers part is concerning
Baileyfrank4 said:
They’re fine but that whole trading against their customers part is concerning
Really? What do you mean
Baileyfrank4 said:
They’re fine but that whole trading against their customers part is concerning
Really? What do you mean
They’ve been doing it since the start. Who can stop them? Then they got hit with huge fines. It really affects their cash flow. If you have traded there, it can feel rough
@Baileyfrank4
I traded there for two years before the ban in Canada
Hmm… I don’t view Binance as a bad choice. I’d say just stay away from things you don’t understand
BlackRock is trying to buy up as much Bitcoin as they can… I can’t see that being a good thing
I think they’re the best among the necessary evils.
I keep my main portfolio on cold storage and only about ten percent in CEXs for staking or trading purposes. I find their APIs easy to use. If I have to pick a CEX, Binance feels the safest