Post
Topic
Board Trading Discussion
Re: Best Practices for sending to exchange
by
Lucius
on 23/01/2021, 14:47:38 UTC
Thanks for all of your thoughts. To those bemoaning my paranoia I say that my paranoia is of the healthy sort. I trust my local process and I trust the exchange I am using, but these processes have risk.

In the crypto world, every mistake is expensive and therefore I don't see any problem with someone asking for advice publicly, no matter how simple the question may seem. Even the much more experienced users check everything a few times before clicking the send button, especially if you are using some exchanges for the first time or sending a larger amount.

In a specific situation where you want to transfer funds as soon as possible and dispose of them on the exchange, it would be logical to send everything in one transaction to avoid paying multiple fees, which is especially evident when these fees are quite high. What you should always pay special attention to is checking the deposit address, a simple clipboard malware can very easily replace that address and your funds will go in a completely different direction.