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Basic Questions about Cryptos / Re: A wallet as a container of money or exchange?
« on: May 19, 2024, 11:50:18 PM »-snip-I also follow the news about Notcoin and indeed Bybit is quite problematic so there is a delay in deposits, But compensation worth $ 26 million is a big compensation and it's proof that Bybit cares about the problems that happen to its users.
I am one of the participants in the Notcoin airdrop, and I have withdrawn my Notcoin from Bybit. They had some issues with the Ton blockchain, which caused a delay in deposit. In compensation, Bybit distributed 26 Million dollars to customers' spot accounts. I used to be a centralized exchange hater, but I am using a couple of them.
But with regard to storing money on centralized exchanges it will have some risks, such as what happens to bybit or on other exchanges and Even I have experienced problems with some exchanges when I want to withdraw coins that I have, it was suspended and in the end had to contact CS then within 48 hours Coins can be withdrawn to my personal wallet.
Such risks make centralized Exchange a non-recommended place for long-term storage, because we do not have full control.