Post
Topic
Board Bitcoin Discussion
Re: Will there ever be any safe centralised exchange ?
by
Cryptmuster
on 27/12/2022, 09:25:31 UTC
Exchanges should be used to exchange, not to store your Bitcoin.

Buy bitcoin there, then send to your own wallet, that's the only way to truly known you just bought real Bitcoin, and not some fake IOU

People that keep their "bitcoin" in exchanges are always in a position in which they can lose all that money overnight.

To buy bitcoin, you can also use other resources with a good reputation, and thus you can not use the CEX, but among the centralized exchanges there are also those with a good reputation that are suitable for buying bitcoin. But they are not suitable for storing bitcoins there. Only if you are a trader and you need to keep some part of the funds on the exchange, and this should be an insignificant part of your portfolio, in other cases, storing bitcoin on exchanges should be excluded for your own safety.