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Crypto Exchanges / Re: Is it safe to put the tokens on the exchange?
« on: May 07, 2024, 09:20:44 PM »Hey, it's okay to keep your tokens on a big exchange! Just make sure to use a strong password and extra security (2-factor authentication). Most exchanges are pretty safe, but if you're worried, you can always move your tokens to a personal wallet for extra protection. Exchange this days are really investing a lot of money in to their security.
It is true that there are exchanges with high security, but remember that security is never 100% in any case. What if the exchange changed its KYC policy and required more personal information? What would happen is that the user would have to sell privacy to be able to withdraw the funds. What would happen if the exchange suffers a DDoS attack for days and the website becomes inaccessible? That the user cannot dispose of his funds. What would happen if some government shut down the exchange for an indeterminate period of time? The user would not have the funds either...
A personal and secure wallet is the best option for our coins/tokens. The rest is playing a lottery that could be very expensive any day.