Post
Topic
Board Bitcoin Discussion
Re: Investing in Bitcoin with Tiffin money of my college life.
by
Aanuoluwatofunmi
on 02/02/2023, 10:26:19 UTC
Never leave you coins on an exchange, Binance is an exchange. To have full control over your asset, use noncustodial wallet. Cold wallets are safest wallet type.

Addition advise why you should avoid centralized exchanges.

1. They can get hacked from any attacking source
2. There's no privacy in using them because they can leak your data to third party
3. You cannot recover your asset with them whenever there's something wrong with the exchanges either being attacked or went bankrupt because your keys for decoding your wallet address on blockchain is with them
4. You're prone to KYC and AML agencies to investigate your informations abd account being subjected to them.
5. You're no difference from someone using a bank because everything you do under a centralized exchange is from a central authority like the banks and other centralized institutionizations did.