Crypto markets can exist without government permission

[MUGNIA]

If I only know the wallet address and the number of bitcoins I have, it's actually not a problem, because we can move it to another address that is more private. For the mixer I use Electrum Wallet, this is more useful. We also heard that bitcoin mixers are banned in several countries because they are prone to money laundering.

Yes, we can move the Bitcoin to another wallets. It is not a big problem whether we want to keep it in certain wallets.
I rarely used the service of Mixers, I only send the Bitcoin in the common way. If I send it with mixer service, I surely will make it to be untraceable transaction. Sure, it sometimes is needed but it is not for all transactions.

Yeah I think shady transactions like from gambling uses this services or any illegal funds but since we are good with the traditional transactions I don't think we need to use mixing services not unless we need it. Though I am not involved yet in gambling using crypto but I know our local e-wallets and exchanges will freeze funds from gambling platforms or the like.

sometimes it's not just frozen, if we deal with the bank our flow of funds will be tracked making it difficult to carry out loan transactions that link bank accounts,
I was confused as to why this was so, the effects of gambling plafroms were very bad in life

[TopT3ns]

sometimes it's not just frozen, if we deal with the bank our flow of funds will be tracked making it difficult to carry out loan transactions that link bank accounts,
I was confused as to why this was so, the effects of gambling plafroms were very bad in life

Exactly, therefore, when you have made a lot of profit from cryptocurrency, it is better to keep all your assets in a digital wallet such as Electrum or others. Never store it in an exchange wallet because we don't know how long the exchange will be around.

[doc]

sometimes it's not just frozen, if we deal with the bank our flow of funds will be tracked making it difficult to carry out loan transactions that link bank accounts,
I was confused as to why this was so, the effects of gambling plafroms were very bad in life

Exactly, therefore, when you have made a lot of profit from cryptocurrency, it is better to keep all your assets in a digital wallet such as Electrum or others. Never store it in an exchange wallet because we don't know how long the exchange will be around.

If you want to save assets for the long term, don't exchange them, it's very dangerous. It's best to keep it in a safe wallet, personal wallet. Electrum wallet is also good and safe. However, if we still want to trade, saving in a reputable exchange is no problem

[0t3p0t]

sometimes it's not just frozen, if we deal with the bank our flow of funds will be tracked making it difficult to carry out loan transactions that link bank accounts,
I was confused as to why this was so, the effects of gambling plafroms were very bad in life

Exactly, therefore, when you have made a lot of profit from cryptocurrency, it is better to keep all your assets in a digital wallet such as Electrum or others. Never store it in an exchange wallet because we don't know how long the exchange will be around.

Yeah if he plans to leave it there for a while then non custodial wallets or hardware wallets are athe best choice to store cryptocurrency assets. I don't personally store assets on exchanges unless a trusted and is on the top 5 but I only use it short term.

[MrSpasybo]

Exactly, therefore, when you have made a lot of profit from cryptocurrency, it is better to keep all your assets in a digital wallet such as Electrum or others. Never store it in an exchange wallet because we don't know how long the exchange will be around.

Exchanges are for trading, not for storing assets, but in reality, many users have considered Binance or Coinbase as personal wallets to store a lot of money. Honestly, we always want to make more profit from our assets, and Simple Earn or staking on CEXs is really attractive. Coinbase understands this, so they continue to maintain staking instead of giving up to avoid trouble with the SEC.

In crypto-friendly countries, users can feel secure using CEXs, even storing a lot of money on CEXs. In countries with an unclear view of crypto or constantly changing policies towards crypto, users should prioritize self-custody of crypto in personal wallets to avoid problems. For example, in Nigeria, users are facing the risk that their personal data when using Binance will be made public under pressure from the government.

[doc]

sometimes it's not just frozen, if we deal with the bank our flow of funds will be tracked making it difficult to carry out loan transactions that link bank accounts,
I was confused as to why this was so, the effects of gambling plafroms were very bad in life

Exactly, therefore, when you have made a lot of profit from cryptocurrency, it is better to keep all your assets in a digital wallet such as Electrum or others. Never store it in an exchange wallet because we don't know how long the exchange will be around.

Yeah if he plans to leave it there for a while then non custodial wallets or hardware wallets are athe best choice to store cryptocurrency assets. I don't personally store assets on exchanges unless a trusted and is on the top 5 but I only use it short term.

You are right, we can use a wallet exchange for the short term and the nominal amount is not that big, and even then we have to choose a large exchange with a good reputation. Because if FTX has the same fate as FTX, we will lose our assets

[Etranger]

In crypto-friendly countries, users can feel secure using CEXs, even storing a lot of money on CEXs. In countries with an unclear view of crypto or constantly changing policies towards crypto, users should prioritize self-custody of crypto in personal wallets to avoid problems. For example, in Nigeria, users are facing the risk that their personal data when using Binance will be made public under pressure from the government.

Even in crypto-friendly countries storing large amount of crypto on CEXes is not safe enough, because exchanges could be attacked or hacked. Moreover, when you store your assets on CEXes you don't really own them. The exchange is an owner, which gives you some kind of a certificate of ownership. But the exchange can make your assets unavailable or postpone withdrawals thus limiting your options and freedom.

[bitterguy28]

sometimes it's not just frozen, if we deal with the bank our flow of funds will be tracked making it difficult to carry out loan transactions that link bank accounts,
I was confused as to why this was so, the effects of gambling plafroms were very bad in life

Exactly, therefore, when you have made a lot of profit from cryptocurrency, it is better to keep all your assets in a digital wallet such as Electrum or others. Never store it in an exchange wallet because we don't know how long the exchange will be around.

not our key , not our bitcoin so why entrust your funds in wallet that you don't owe ?

maybe instead of using centralized wallet then it is better to use off line or cold wallet , things that we mostly do because we need to secure our funds specially for long term than just thinking for easy manage here.

[Doovla]

Fortunately, I have no complications with withdrawing money and investing it in my country. ATM machines were made 5 years ago and the services are very easy and undemanding. There are also websites so that you don't have to go to certain cities.

[MrSpasybo]

Even in crypto-friendly countries storing large amount of crypto on CEXes is not safe enough, because exchanges could be attacked or hacked. Moreover, when you store your assets on CEXes you don't really own them. The exchange is an owner, which gives you some kind of a certificate of ownership. But the exchange can make your assets unavailable or postpone withdrawals thus limiting your options and freedom.

I understand that the best way to secure crypto assets is through self-custody in personal accounts. However, this means giving up many benefits or profits from them. In crypto-friendly countries, the risk of CEXs being attacked and user accounts being frozen is not high, which can make users more comfortable.

The opposite can happen in countries like Nigeria: the government requires CEXs to provide user transaction data, the government blames CEXs, the government arrests people illegally... I don't think crypto can develop in such harsh conditions, even though crypto can still exist in personal accounts and be traded P2P.

[Etranger]

Even in crypto-friendly countries storing large amount of crypto on CEXes is not safe enough, because exchanges could be attacked or hacked. Moreover, when you store your assets on CEXes you don't really own them. The exchange is an owner, which gives you some kind of a certificate of ownership. But the exchange can make your assets unavailable or postpone withdrawals thus limiting your options and freedom.

I understand that the best way to secure crypto assets is through self-custody in personal accounts. However, this means giving up many benefits or profits from them. In crypto-friendly countries, the risk of CEXs being attacked and user accounts being frozen is not high, which can make users more comfortable.

The opposite can happen in countries like Nigeria: the government requires CEXs to provide user transaction data, the government blames CEXs, the government arrests people illegally... I don't think crypto can develop in such harsh conditions, even though crypto can still exist in personal accounts and be traded P2P.

It’s just important to set priorities and decide what is more important to you. Of course, exchanges are much more convenient to use and their commissions are lower than on cold wallets. There, your funds are easier to exchange, sell, withdraw or buy new assets. But if your priority is security, then the risks of storing cryptocurrency on an exchange will always be higher. And in this case, you should use a cold wallet that is not connected to the Internet.

[pacar_tiri]

Fortunately, I have no complications with withdrawing money and investing it in my country. ATM machines were made 5 years ago and the services are very easy and undemanding. There are also websites so that you don't have to go to certain cities.

For withdrawing money that we earn from cryptocurrency in certain countries there may still be obstacles that ultimately make it difficult for us to withdraw money, but I am sure there will be many companies that will try to make it easier for traders who want to make withdrawals. Because in my country there is also an exchange that makes it very easy to withdraw cryptocurrency to fiat.

[Gurujebs]

Exactly, therefore, when you have made a lot of profit from cryptocurrency, it is better to keep all your assets in a digital wallet such as Electrum or others. Never store it in an exchange wallet because we don't know how long the exchange will be around.

No matter how you spread this information, people that will leave their coins on the exchange will leave their coins there and people that will used external wallet will make used of the external wallet, because when you look at the amount of coins that are stored on centralized exchanges, the coins are large and definitely they don't belong to the exchanges, it belongs to the users who decide to keep their coins on such exchanges. If you do some math's and calculate the amount of coins in the hands of exchange, is usually larger than the coins on external wallets.

[rizqillah]

Fortunately, I have no complications with withdrawing money and investing it in my country. ATM machines were made 5 years ago and the services are very easy and undemanding. There are also websites so that you don't have to go to certain cities.

For withdrawing money that we earn from cryptocurrency in certain countries there may still be obstacles that ultimately make it difficult for us to withdraw money, but I am sure there will be many companies that will try to make it easier for traders who want to make withdrawals. Because in my country there is also an exchange that makes it very easy to withdraw cryptocurrency to fiat.

In fact, in many countries it is easy to withdraw money from crypto which is converted to dollars or FIAT in that country, although not in cash because there are ATMs, we can do it at our country's local exchange. So far I have used it safely and easily.

[Tribalchief]

If you want to save assets for the long term, don't exchange them, it's very dangerous. It's best to keep it in a safe wallet, personal wallet. Electrum wallet is also good and safe. However, if we still want to trade, saving in a reputable exchange is no problem

I think many of us sometimes overlook the logical aspects of exchange usage. For those who trade often, it would make more sense to leave your trading funds on the exchange you use frequently to minimize transaction fees associated with moving funds between wallets. However, you should be aware that your funds are in the hands of another individual, so you should always be vigilant and keep checking. On the other hand, for those who are holding onto assets for the long term or for reasons unrelated to trading, it would make more sense to store them in an external wallet.

Exactly, therefore, when you have made a lot of profit from cryptocurrency, it is better to keep all your assets in a digital wallet such as Electrum or others. Never store it in an exchange wallet because we don't know how long the exchange will be around.

In crypto-friendly countries, users can feel secure using CEXs, even storing a lot of money on CEXs. In countries with an unclear view of crypto or constantly changing policies towards crypto, users should prioritize self-custody of crypto in personal wallets to avoid problems. For example, in Nigeria, users are facing the risk that their personal data when using Binance will be made public under pressure from the government.

I don't think Nigerians currently have too much business with Binance since the peer-to-peer medium isn't available to them. Although there are a few services they can utilize, I came across news that doesn't make sense from any angle. Are all Nigerian Binance users under investigation or what? Like I said before, Binance would really love to see more involvement from Nigerian traders, which might possibly result in them releasing such sensitive data. Just saying...