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 ?
You should always choose top tier exchangers for trading because they have high liquidity for each coin, due to which you can exit your trade at any time. In futures trading, when trading with leverage, there is already a lot of risk and if you use an exchanger where liquidity is low, then you will have to accept a big loss at the time of exit. Because there will be a big difference between the buy and sell orders of the coin because there are fewer traders there. So far, I use Binance the most and this exchange is enough for trading so far. Because the liquidity of all the coins listed here is very high.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 ?