Quote from: slaman29 on Today at 10:18:24 AM

Quote from: Charles-Tim on September 04, 2025, 11:37:56 AM

Some people prefer more exchanges because they do not want to have their trading coins only on one exchange, they prefer to distribute the coin on more exchanges. This is because they think an exchange can be hacked and they do not want more of their coins to be affected.

Seems like a really weird way. You want to trade, then you sacrifice your KYC and you sacrifice coin ownership, but you try to find the exchange that is best suited to your trading and most likely to keep your money safe (but this is always arguable).

I mean in this case I 'trust' Binance because they have funds to back up loss to hacking (SAFU) and already proved this before paying back people even after hack.

Why would you want to risk money on other unproven exchanges?

But anyway, I will never understand some 'traders' I guess.

Did you not sacrifice your identity document on Binance?

Were you told all your coins will be given you back if Binance is significantly affected during hack?

All I posted is not about risking your coins on many exchanges but instead of having like $600 on one exchange, you can have $200 each on three exchanges.And not the coins that you hold but the one you are using to trade. The coins that you are not using to trade should be on noncustodial wallet.

What let you think Binance is the best exchange when it comes to security? I do not believe any exchange when it come to security. I only believe in myself and which is my noncustodial wallet.