Post
Topic
Board Service Discussion
Re: Don't trust web wallets, don't trust exchanges, then where to trade?
by
mk4
on 07/02/2021, 15:51:45 UTC
No one knows when exchange will be hacked, even if you risk and leave funds on exchange for some hours, there is a chance that it will be hacked and your funds will be stolen.
I mean, obviously. It's a risk you need to take if you actually want to take advantage of the liquidity of centralized exchanges. If you don't want to risk it, pretty simple- don't trade.

And if you deposit/withdraw money on each trade, I hugely doubt you'll get any profit because nowadays there are a huge fees on transaction
Never said you had to withdraw after literally every trade. I said "just withdraw the funds when you plan on stopping trading for a while and such".

and everytime I opened my Electrum wallet, it was always warning me that fee was very high. Paying 5% of your initial capital in bitcoin transaction fees can't bring you a profit in trading.
If you only trade with a $50 trading allocation, then sure.

That's why I asked what to do and if you trade with 5% of your total holdings, even if you have high capital, it will be just a waste of time and playing for nothing.
Lol not really. It's only a waste of time if you don't make enough money trading to pay for the transaction fees.