Quote from: Asiska02 on September 25, 2023, 01:15:35 PM

While putting some in that exchange, hope you put only the one which you can afford to lose. I’m sure you did that because no person will save more money in exchange than a decentralised wallet where they have complete ownership of the funds. Only a novice that have no knowledge of crypto will do that or the ones that are negligence in events like this.

I already know that. I don't fully believe in centralized exchanges and therefore I only put my money on the most reputable exchanges and the value of my assets is also not much.

Quote from: Jawhead999 on September 25, 2023, 01:44:30 PM

You're trusting your seed phrase over third party, I don't think it can be said as safe regardless it's encrypted or having password.

The chance you lose your funds is higher in online e.g. centralized exchange than in offline.

Well, I know that risk too. However, the exchange that I believe has been operating for a long time and has the largest valuation currently. So if you think it's more risky, I don't think so. And also the seed phrase that I put on Box.com was pre-encrypted in text form, so if someone could crack it I think he would need a quantum computer for that.

Quote from: kro55 on September 25, 2023, 02:55:07 PM

Both of his methods place trust in a third party, which is worse than trusting a bank. If I have to trust centralized exchanges or online storage services, I'd rather trust bank. How can our bitcoins be safer in the hands of others? @retreat?

My answer is clear enough. So I don't need to explain any more.