Quote from: Z-tight on June 15, 2024, 08:36:04 PM

Quote from: bettercrypto on June 15, 2024, 05:47:28 PM

but it depends on the trust you give to the exchange or how reputable it is, like Binance, Bitget, and Bybit. In short, do it at your own risk.

Take note that you should not trust any exchange or custodial service with your funds, no matter how reputable you believe the exchange is. Recent events have shown that any centralized exchange can collapse and even if they don't, they could still confiscate your funds for any reason at all. Store your funds only in your self custody, back up your seed phrase in a safe location and add extra layers of security.

because in principle the exchange is actually a place to convert or trade, not to store our assets. although I'm sure there are still those who do it (storing assets on the exchange), they definitely have their own reasons and they accept the risk.
Those who do this are not unaware of the risks or have not read history. they have that knowledge, but perhaps out of necessity, they still take that risk.

To minimize risk, it is better not to leave assets on the Exchange in large amounts or for long periods of time. if there is nothing you want to do with the assets on the exchange, such as make a trade. It is recommended to make a withdrawal immediately.
I know the main reason they don't make withdrawals every time is trading or fees that may be charged every time they want to make a transaction on the exchange.