Post
Topic
Board Beginners & Help
Re: Newbie Reminder: Treat Exchanges as Marketplaces
by
cryptoaddictchie
on 11/11/2022, 11:44:27 UTC
Dear newbies, please treat exchanges, such as Binance, KuCoin, Kraken, Huobi, OKX, and Coinbase, as marketplaces. What do I mean? Just as you do not leave your goods on the market after you have paid for them, you take them home with you. Consider your coins as the goods you bought at the marketplace. Your bitcoins should only be stored in cold storage wallets after purchase, and transferred out when you want to sell them. It takes less than 10 minutes. Remember, if you don't have the keys, it's not your coins.
This is a good suggestion. But what if a guy always trade big bulks of tokens and stablecoins? He should pass the level or the minimum withdrawal he can only do and stick to that everyday. (Im talking about a lot of money or whales). Also possibly that liqudity on dex might not be enough. Usually big pool or the market is on cex due to trading volume. But what you said is right, as much as possible keep on non custodial wallet.