Re: Pass all the security procedures before sending assets to an exchange.
by on 13/12/2025, 14:57:42 UTC
Why leaving the coins on the exchange at first? He supposed to convert the coin he wants to convert to or buy coins with fiat and withdraw it too noncustodial wallet.
What if the exchange temporarily halt withdrawal? This can happen on any exchanges at anytime because on exchanges, you do not have full control.
If you want full control, make use of noncustodial wallet. Tell your friend that.
I can't agree more with you but charles in reality, almost 90% of the total crypto users are using centralized exchanges and if they are using then giving them the right guide is necassary.What if the exchange temporarily halt withdrawal? This can happen on any exchanges at anytime because on exchanges, you do not have full control.
If you want full control, make use of noncustodial wallet. Tell your friend that.
Now I do agree that we don't own those funds, that we deposit on the CEXs and they can raise any flags they want or by the order of governments they can do whatever they want with our funds with their new policies. And also they can tax highly. Therefore we must own our funds with the keys in our hands.
We must follow necassary steps if we are using CEX or DEX does not matter, but we should not prefer CEXs for holding purposes.