Post
Topic
Board Beginners & Help
Re: Don't deposit funds to directly CEX from the third party.
by
Samlucky O
on 27/03/2025, 21:23:12 UTC
As we all know, any centralised exchange shouldn't be treated as a crypto wallet. Well, even if we don't store the funds in exchanges, we still need to use them, though we can use decentralised exchanges.  But many of us have been using centralised exchanges due to many reasons. So even if we buy coins from the exchange, we need to move our funds into there and buy coins. Later we can move to the non-custodial wallet.
surely a centralize exchange is only used for buying and selling of coins through the use of p2p and not the right place to store bitcoin or any crypto asset. centralized exchange is just a middle man between buyers and sellers and this is the reason they have total control of all the asset in there custody and this makes it to no longer be private. results from the past record shows that most of the greatest crypto hacks was all in centralized exchange. that is enough reason we should be more focused in storring our asset in non custodial wallet, cold wallet preferably. then if there is need to exchange or sell it for fiat then it can be sent to CEX.   

The second story was learnt from the scam accusations board. Bybit asking him for transaction details with videos of where he got the funds. That user also used a mixer to send funds to Bybit 5 years ago. So Bybit is asking for proof source of funds, which is impossible.
well i have not sent coin or cryptocurrency to from mixer to exchange or non custodial, wallet but if there is need then it should be sent to the non custodial wallet where its not regulated by any centralized authority before sending to a centralized exchange. but if there is always difficulties using mixers for sending coin to exchange do to not having a trace, then there is no need to send coin where there is no trace using mixer.