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There is zero benefit to holding coins on an exchange unless you are trading with them at the immediate time of doing it. There is extreme risk in doing so. T

• naijaboiler 4y ago
  smart money should get their money out now.
• rdtwo 4y ago
  Exactly, stay off the exchanges unless you are converting
• simple-thoughts 4y ago
  Many people aren’t even capable of using a password manager, forget passwords, and rely on text message authentication to access their accounts. They are not able to remember a private key or store it with backups, as hard to believe as that might be. So they expect exchanges to manage their keys for them. These cex scams will not end until there’s better private key management and backup options such as better social recovery.
  • throwaway22032 4y ago
    Yeah, then those people will just keep being scammed over and over and over and over and over. Cryptocurrency and custodial legal ownership just doesn't really make sense as a concept. It can be done algorithmically, but if it's done via the legal system, the end result is that they'll be locked down to such a degree that they will not accept censorship-free transfers. At that point you have no value proposition and thus no point in even bothering besides engaging in Ponzi schemes.
• fvdessen 4y ago
  In theory, exchanges should be more competent at securing funds that the average customer, as they have the economy of scale necessary to hire all kind of experts to make sure everything is done by the book. I mean it works for banks and makes a profitable business. But 'for some reason' the crypto guys keep losing it all on gambles and fraud instead.
  • landemva 4y ago
    No, that is not the theory. The btc blockchain protocol provides the security. Putting coins into a centralized database managed by a few javascript devops wunderkids is a break of the security of the protocol.
• cyanydeez 4y ago
  There is zero benefit in crypto without exchanges