Post
Topic
Board Beginners & Help
Re: Why non-trader beginners prefer to leave their BTC on CEX?
by
Becassine
on 20/07/2023, 15:19:11 UTC
Even though I feel everyone will disagree with me but I'll raise my opinion anyways and not care...I am not always right btw but thats just how I feel

I agree with you on few points of course, but I disagree with other points...mainly you calling people who use CEX are newbies, If you consider me as a newbie which I might be then thats fine, the word itself doesn't bother me. (...)
I am sorry for the long post but as you can see I disagree with 90% of you guys for the above reasons. I just want cryptocurrency to get bigger and this is the only way. Otherwise it will be "Crypto-scammurecy" instead of "Cryptocurrency" which it already is a big scam space if you think about it, and where do most the scams happen? In telegram with metamask approving/connecting thir wallet to places thinking its another place type of people. Its painful to see.

First I was talking about beginners who do not trade. Who do nothing special (Hold =/- DCA) and who should therefore rather use a cold wallet. Then I don't think we are in disagreement: at the beginning certainly for all the reasons I have listed, you feel more confident on a CEX. It seems easier and more secure and then we understand that it is not difficult to have a cold wallet.

The case of your wife has nothing to do with the subject: indeed if she knows nothing about bitcoin and she has to recover btc on a CEX or a cold wallet, it will be the same thing. She will have to learn. In addition it can even be more complicated on a CEX: indeed she will need your password, access to your phone, access to your email. Whereas with a cold wallet, you leave her the keys and she will have immediate access.