When Binance futures went down earlier today, it reminded the risk of relying solely on a single exchange. Though I didn’t have a position opened on it at that period because i already placed a trade on Bitget at the time but i know those who were stuck. This just shows why you should have options open as a form of risk management because this can happen to any exchange at any time.
I still stand on ‘no exchange is perfect’ but having a backup to spread your activities on would definitely save some stress when the unexpected happens which is why OKX is my third one. Just like having a diversified portfolio and having multiple investments basket, having different exchanges is a good decision in my opinion. Do you also use multiple exchanges or you stick to one ?
I am sure we could make a lot of money if we just use single exchange, because that way we focus all of our money into a single place, then we could make a lot of money and if we can get a greater return then it shouldn't be that weird. People do not realize how difficult it is to take that risk but beneficial it is.
It is true, when you put all your money into a single place, you are also taking a huge risk as well because if it's gone, then all of your money is gone with it. But the return is a lot better as well, that is the point. So you take your choice, if you believe in the exchange then you should do it. I trust Binance and that is why I do not use any other exchange at the moment and I make money that way.