Quote from: Marvell1 on Today at 05:23:29 AM

Quote from: fokinlipat on Today at 04:28:07 AM

Many here are suggesting that they do not keep anything on exchanges. I doubt this. They must be having good amount on exchanges. They operate with huge amounts and must be involved in trading crypto also. It will not make much difference to their net worth even if they loose funds on one exchange due to hack. They keep the risk versus reward ratio in mind before taking such decisions. Keeping the money idle in hardware wallets or paper wallets will give them no returns at all.

The majority here are maximalists and bitcoin holders, so it is not surprising that they do not like centralized exchanges and never store assets on them. I believe what everyone says because everyone is aware of the risks of storing assets on centralized exchanges. But if someone is a day trader and says so then they are lying because no trader has enough time and money to deposit and withdraw money at the end of the day after trading.

I'm still using centralized exchanges for my P2P transactions but I'm holding my bitcoins with a hardware wallet and I don't need nor care about the small profits from staking or trading in day. Not everyone is in a hurry to make money as fast as you and take risks when staking your crypto assets on exchanges, don't impose your thoughts on others.

The fact that most people say they support a certain mode doesn't mean that they speak for everyone. It's very important for people to fully understand and accept that their financial plans, whether they're dealing with bitcoin or another product, are unique and based on their risk tolerance and circumstances. Day traders are always tied to centralized sites because they make trades so quickly, whether they admit it or not. Is it even possible for them to pay and withdraw money every day?

You bring up an important point with your use of a hardware wallet, and it's important to remember that not everyone is in the crypto space to make quick money. Some people might be interested in trading and staking, but for others, the very idea of bitcoin (decentralized power and financial independence) is more interesting. We need to stop thinking in a one-size-fits-all way and see that different people have different goals and plans.