Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency Trading => Topic started by: ayatoslaw on November 26, 2020, 07:56:31 AM
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Some of you may be used to trading on wallets, but have you ever thought that it was risky?
Yes, recently a Paypal user in the US received a message from Paypal that his account was permanently limited for reasons of "potential risk",
The user said he buys bitcoins at a low price then sells them at a high price at least 10 times a week. because of this Paypal asks for an explanation for every transaction he does.
Paypal policy is currently not charging transaction fees for users who sell and buy bitcoin until 2021,
So in my opinion paypal is quite reasonable, because paypal does not want to get a loss due to high volume trading carried out by its users.
What do you think about this incident?
For more details, you can read it here:
https://cointelegraph.com/news/paypal-suspends-user-for-crypto-trading-using-paypal-s-own-service
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I find the exchange rate is poor in wallets compared to exchanges so use exchanges not wallets.
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I would like to start using additional income, I need to verify my bitcoin wallet
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Trading on exchange other than you wallet has its own limitations. Thess includes the exchange closing. It is safer to trade from your wallet.
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Trading on exchange other than you wallet has its own limitations. Thess includes the exchange closing. It is safer to trade from your wallet.
Yes i also think so. It is better to trade from own wallet. Exchange always not run sommothly as it is a fact about some risky. That's why i always prefer to trade from own wallet.
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I think it is better to use your own wallet for business transactions. Because if any exchange is phishing then they are not safe. It is important to use keys and passwords for security. So in case of security, more transactions should be done using your own wallet.
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I think it is better to use your own wallet for business transactions.
Wise choice. Using a wallet to make transactions not for trading. I think wallets are used to store our assets (receive and send) if you want to buy and sell using the exchange
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Here i am sure that PayPal does not want take the security of your assets. For this reason they try to make you restrict. So in this regard i think you better to trade in your own wallet for your security.
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Paypal already denied personal wallet security systems if anyone trading more and more within a short time duration.
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Well, it depends on the kind of wallet you are using. A non custodial private wallet where you control the keys and phrase is one of the safest ways to trade and hold digital assets. Exchanges on the other hand are some of the most risky places to trade. Several exchanges have gone under due to hacks, you should be careful with saving your assets on the exchange.
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Everyone thinks that it is better to use your wallet for business transactions. I agree with them too. Because your own people will not be harmed if you use one. However, using any other wallet can cause damage.
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Your wallet in your security so it is less risky then exchange wallet. When ever you would like to trade then you can connect your wallet. We know exchanger wallet is risky. Here lots of assets are accumulated and scammer or hacker are trying to attract exchange wallet. So i think own wallet will be best for concern.
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Obviously, PayPal doesn't want traders to make money on it! I think it's worth just finding others.
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Your wallet in your security so it is less risky then exchange wallet. When ever you would like to trade then you can connect your wallet. We know exchanger wallet is risky. Here lots of assets are accumulated and scammer or hacker are trying to attract exchange wallet. So i think own wallet will be best for concern.
Exchange wallets are risky because you do not have full control, but what happens to paypal is not that, but because users trade with deposits and withdrawals in paypal wallets too often, if it is calculated in a week at least ten times more transactions are made.
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And why is that in question when the platform(PayPal) itself has permitted it? to use the Platform to buy and sell cryptocurrencies it's not clear why they do that. I guess it's because the transaction was too often and Paypal is charging the fees from their own pocket.
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In my opinion paypal does this because of high administrative costs considering these users make buying and selling transactions on the paypal platform continuously, in fact there are no mistakes made by these users, but there are no fees for crypto holders to sell and buy crypto for make it. they incur a slight loss, because there are no fees for crypto users on the paypal account.
it's like a crypto exchange that charges 0% fees for traders. it is a little profitable for users, but the situation experienced by paypal users will be a separate lesson for paypal, that the price of crypto coins is very volatile
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Everyone knows before added cryptocurrency wallet in PayPal; there was a limitation for receiving funds in an account; that's why user account limited by PayPal due to an increase in funds volume and the users getting benefits from no fees by selling and buy BTC or any other altcoin, so I suggest PayPal wallet used for sending payments to banks or any other user and should not use for trading.
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Everyone knows before added cryptocurrency wallet in PayPal; there was a limitation for receiving funds in an account; that's why user account limited by PayPal due to an increase in funds volume and the users getting benefits from no fees by selling and buy BTC or any other altcoin, so I suggest PayPal wallet used for sending payments to banks or any other user and should not use for trading.
Yes, I agree with you too, we have to know what wallet we use so that we are not careless,
paypal area is only for users who want to store cryptocurrency as savings, or just want to exchange cryptocurrency to fiat and withdraw it to the bank, not trade and get profit.
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Well, I don't use PayPal, Infact PayPal isn't available in my country, I've always traded in-wallet using trust wallet and I've never had issues, this is why decentralization is so so important, PayPal is a centralized company running a centralized wallet, theres no way you would perform in-wallet trades with them without encountering an issue on one of the days you trade, so it's better to chose decentralized wallet if you wanna perform in-wallet trades.
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I think PayPal is capable of providing maximum protection. PayPal is a useful place for joint assets. So there are a lot of users. PayPal should be used to protect more resources.
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This is an example of a beautiful suppression of cryptocurrency arbitrage, I remember not so long ago when launching Binance P2P people also bought profitably there without a commission and sold at a higher price, especially when the market was too volatile! This is a normal practice)
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This is an example of a beautiful suppression of cryptocurrency arbitrage, I remember not so long ago when launching Binance P2P people also bought profitably there without a commission and sold at a higher price, especially when the market was too volatile! This is a normal practice)
yes, many people gather when there is a profitable place and no service fees are available, but Paypal is not the right place to do that anyway))
Paypal has given crypto enthusiasts the opportunity to be able to store FIAT and Crypto in one place, this is enough in my opinion and we must know the terms of paypal policy.
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Each cryptocurrency user has his own approach to implementing his plans. In general, cryptocurrency can be bought not only using paypal, but also using a cryptocurrency exchange, as well as inside cryptocurrency wallets. If once I had to sell a small amount of coins on the exchange, then I spent more commission on transactions than I earned for the sale of this asset. In addition, the withdrawal of funds from the exchange also needs to pay commission fees. Based on this, there is a better way out inside the wallet, such as in the My ether Wallet.
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I am not at all interested in trading on a wallet, because in my opinion trading on that wallet is not a challenge. Lack of enthusiasm and less adrenaline rush, if we want to trade Crypto then we have to trade on exchanges. Crypto trading in that market we compete with the crowd for profit, and that's a challenge for me.
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I am not interested to use wallet. I fell that wallet is my personal issue. It is better to use exchange wallet.
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I am not at all interested in trading on a wallet, because in my opinion trading on that wallet is not a challenge. Lack of enthusiasm and less adrenaline rush, if we want to trade Crypto then we have to trade on exchanges. Crypto trading in that market we compete with the crowd for profit, and that's a challenge for me.
It is only natural that you are not interested, because after all the Wallet is only a place to store your assets, not trade them.
But it's not bad if the wallet has a place to trade, like Trust Wallet, you can easily trade on the wallet, although it is a bit limited.
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A crypto wallet is designed to store currency and exchange it within the wallet. And this is very convenient when you need to exchange some coins for others. But it is more convenient to make money by trading on a crypto exchan.
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Well, it depends on the kind of wallet you are using. A non custodial private wallet where you control the keys and phrase is one of the safest ways to trade and hold digital assets. Exchanges on the other hand are some of the most risky places to trade. Several exchanges have gone under due to hacks, you should be careful with saving your assets on the exchange.
That's true I agree with your suggestion, some exchange have been hack with lead to lost of fund!!!
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Well, it depends on the kind of wallet you are using. A non custodial private wallet where you control the keys and phrase is one of the safest ways to trade and hold digital assets. Exchanges on the other hand are some of the most risky places to trade. Several exchanges have gone under due to hacks, you should be careful with saving your assets on the exchange.
That's true I agree with your suggestion, some exchange have been hack with lead to lost of fund!!!
In order to be safe and calm, you need to choose those cryptocurrency exchanges that offer multi-layered protection. At the same time, such an exchange as Binance has a fund to cover losses to its clients who have suffered from hacker attacks.
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Actually exchange main target is to trading and keeping cryptocurrencies long term, short term staking but sometimes many wallet allow trading from wallet as example you can directly trade from trust wallet.
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A crypto wallet is designed to store currency and exchange it within the wallet. And this is very convenient when you need to exchange some coins for others. But it is more convenient to make money by trading on a crypto exchan.
The Exchange is indeed a place to trade, of course when you want to sell assets it will be more comfortable if you do it on the Exchange than in a wallet, besides that liquidity is also needed.
But I actually don't agree if the wallet provides a trading menu, it's better to provide an instant trading menu than manual trading menu.
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Then its a bug on exchange they should put a limitation on each trade per week like for example $100/day so that they can monitor each trade Paypal must know the risk of being an exchange before entering this kind of market many users using only wallet for exchange buy low sell high and vice versa.
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One way or another, on the exchange, the user will be able to get the best price offer for the sale of a particular asset. Thanks to market trends, the user can set up exactly the scene for the sale that suits him best, but if we talk about security, then the exchange acts as a wallet anyway.
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It is not possible to trade without capital and after the need for a wallet when exchanging to save capital in that case both trades of the exchange are required. Coins need to be properly selected when buying and selling coins and any exchange site which acts as a wallet to keep it well protected coins cannot be traded without being stored in a wallet.
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I do not know how crypto buy-sell work in PayPal. My country doesn't support PayPal and what I understand trade in the wallet is trading with dapps. There are many crypto wallets that allow users to use DEX in their wallet and users bear the transaction fees. But what PayPal does is for their own business. No one wants to take losses.
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I do not know how crypto buy-sell work in PayPal. My country doesn't support PayPal and what I understand trade in the wallet is trading with dapps. There are many crypto wallets that allow users to use DEX in their wallet and users bear the transaction fees. But what PayPal does is for their own business. No one wants to take losses.
Nobody is buying and selling on paypal, but the point of my thread is that someone stores cryptocurrency on paypal and repeatedly makes withdrawals and deposits to trade on other exchanges.
The trader took the opportunity because paypal did not collect a service fee until 2021. And yes, it's because paypal doesn't want to lose))
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Some of you may be used to trading on wallets, but have you ever thought that it was risky?
Yes, recently a Paypal user in the US received a message from Paypal that his account was permanently limited for reasons of "potential risk",
The user said he buys bitcoins at a low price then sells them at a high price at least 10 times a week. because of this Paypal asks for an explanation for every transaction he does.
Paypal policy is currently not charging transaction fees for users who sell and buy bitcoin until 2021,
So in my opinion paypal is quite reasonable, because paypal does not want to get a loss due to high volume trading carried out by its users.
What do you think about this incident?
For more details, you can read it here:
https://cointelegraph.com/news/paypal-suspends-user-for-crypto-trading-using-paypal-s-own-service
PayPal should expect this they do not allow withdrawal of the coin that you bought on their platform, all these buyers are traders so expect them to trade like buying low and selling high, they can add fees so they can also make a profit from these transactions.
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PayPal should expect this they do not allow withdrawal of the coin that you bought on their platform, all these buyers are traders so expect them to trade like buying low and selling high, they can add fees so they can also make a profit from these transactions.
Paypal will add a withdrawal fee in 2021, I am not a paypal user, but I read the article that this year paypal has not provided a withdrawal fee for its users.
and because of this someone saw an opportunity and abused it.
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nowadays even ledger wallets get new viruses so it gets attacks from malicious hackers. As long as it's a system then nothing is safe, there's always a loophole. As a depositoment of assets we should not be distracted also from the attack because some wallets already provide extra security such as 2fa.
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nowadays even ledger wallets get new viruses so it gets attacks from malicious hackers. As long as it's a system then nothing is safe, there's always a loophole. As a depositoment of assets we should not be distracted also from the attack because some wallets already provide extra security such as 2fa.
Do you mean trezor wallet or ledger nano? I also read the news if there is a hacker who sells Trezor wallet data on the dark web.
If the news is true, then this is bad news because ledger wallets are known for being secure wallets.
If a wallet like Ledger nano can be hacked what about paypal ))
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In Exchanges there are more volume ,pairs of coins for trading .In wallets all trading facilities may not be available and in wallets you have to compromise more fee than exchanges.Wallets are the best place to store your coins in the safe way .use exchange only for trading.Use wallets for holding.
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Trading from wallet to exchange is still the best of both worlds. Pick your exchanges from the top 10 and after trading transfer your funds to your secured wallet. Not a fan of leaving potential tokens on exchanges though.
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One way or another, on the exchange, the user will be able to get the best price offer for the sale of a particular asset. Thanks to market trends, the user can set up exactly the scene for the sale that suits him best, but if we talk about security, then the exchange acts as a wallet anyway.
That's right, you noticed. Trading on the exchange provides the trader with more freedom and the ability to choose prices for placing orders. This means that we can determine our own profit. Wallets are more intended for storing cryptocurrency and exchanging it if necessary.
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In Exchanges there are more volume ,pairs of coins for trading .In wallets all trading facilities may not be available and in wallets you have to compromise more fee than exchanges.Wallets are the best place to store your coins in the safe way .use exchange only for trading.Use wallets for holding.
The trading menu in the wallets is of course incomplete when compared to exchanges, but usually wallets only provide instant swaps. So it's easier if you want to exchange assets.
Trading from wallet to exchange is still the best of both worlds. Pick your exchanges from the top 10 and after trading transfer your funds to your secured wallet. Not a fan of leaving potential tokens on exchanges though.
Trading on an exchange is indeed the best choice and then saving it to your wallet, rather than trading on a wallet which could increase the risk of having your account being restricted due to abuse of privacy or unwanted things.
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Trading in exchanges are proven the best place to grow your money specially if you used the best crypto exchanges like Binance while Wallet is known as the best safety keeper of your assets so after using the exchanges during your trade then make sure you will keep your assets in the wallet as keeping them in the exchanges is very risky if the exchanges will be compromised.
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Trading in exchanges are proven the best place to grow your money specially if you used the best crypto exchanges like Binance while Wallet is known as the best safety keeper of your assets so after using the exchanges during your trade then make sure you will keep your assets in the wallet as keeping them in the exchanges is very risky if the exchanges will be compromised.
Binance is not bad for saving money even though Binance is an exchange, because now Binance gives you a few percent profit if you keep your USDT there,
very different if you save on Paypal, Paypal still doesn't support staking or the like, so you won't get any profit when saving there.
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Some of you may be used to trading on wallets, but have you ever thought that it was risky?
Yes, recently a Paypal user in the US received a message from Paypal that his account was permanently limited for reasons of "potential risk",
The user said he buys bitcoins at a low price then sells them at a high price at least 10 times a week. because of this Paypal asks for an explanation for every transaction he does.
Paypal policy is currently not charging transaction fees for users who sell and buy bitcoin until 2021,
So in my opinion paypal is quite reasonable, because paypal does not want to get a loss due to high volume trading carried out by its users.
What do you think about this incident?
For more details, you can read it here:
https://cointelegraph.com/news/paypal-suspends-user-for-crypto-trading-using-paypal-s-own-service
Yes we should careful about that incident .when we take anything more easily then it brings some problem .so I think it will wise decision to trade on the exchange and avoid others riskful way that bring lose the treader's profit .
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Some of you may be used to trading on wallets, but have you ever thought that it was risky?
Yes, recently a Paypal user in the US received a message from Paypal that his account was permanently limited for reasons of "potential risk",
The user said he buys bitcoins at a low price then sells them at a high price at least 10 times a week. because of this Paypal asks for an explanation for every transaction he does.
Paypal policy is currently not charging transaction fees for users who sell and buy bitcoin until 2021,
So in my opinion paypal is quite reasonable, because paypal does not want to get a loss due to high volume trading carried out by its users.
What do you think about this incident?
For more details, you can read it here:
https://cointelegraph.com/news/paypal-suspends-user-for-crypto-trading-using-paypal-s-own-service
Yes we should careful about that incident .when we take anything more easily then it brings some problem .so I think it will wise decision to trade on the exchange and avoid others riskful way that bring lose the treader's profit .
Therefore, if you have a wallet that contains a very large amount of cryptocurrency, I recommend that you not use it as a whole trading, maybe you can use another wallet to buy cryptocurrency and for paypal, there are certainly many cases that harm many people.
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Some of you may be used to trading on wallets, but have you ever thought that it was risky?
Yes, recently a Paypal user in the US received a message from Paypal that his account was permanently limited for reasons of "potential risk",
The user said he buys bitcoins at a low price then sells them at a high price at least 10 times a week. because of this Paypal asks for an explanation for every transaction he does.
Paypal policy is currently not charging transaction fees for users who sell and buy bitcoin until 2021,
So in my opinion paypal is quite reasonable, because paypal does not want to get a loss due to high volume trading carried out by its users.
What do you think about this incident?
For more details, you can read it here:
https://cointelegraph.com/news/paypal-suspends-user-for-crypto-trading-using-paypal-s-own-service
Yes we should careful about that incident .when we take anything more easily then it brings some problem .so I think it will wise decision to trade on the exchange and avoid others riskful way that bring lose the treader's profit .
Therefore, if you have a wallet that contains a very large amount of cryptocurrency, I recommend that you not use it as a whole trading, maybe you can use another wallet to buy cryptocurrency and for paypal, there are certainly many cases that harm many people.
Yes, if I prefer another wallet than paypal, because I also don't really like the appearance of paypal, as you know, paypal is actually a special wallet for FIAT not cryptocurrency, so the policy is definitely different from cryptocurrency wallets in general.
but many cases like what do you mean? what about the account being suspended by paypal?
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Some of you may be used to trading on wallets, but have you ever thought that it was risky?
Yes, recently a Paypal user in the US received a message from Paypal that his account was permanently limited for reasons of "potential risk",
The user said he buys bitcoins at a low price then sells them at a high price at least 10 times a week. because of this Paypal asks for an explanation for every transaction he does.
Paypal policy is currently not charging transaction fees for users who sell and buy bitcoin until 2021,
So in my opinion paypal is quite reasonable, because paypal does not want to get a loss due to high volume trading carried out by its users.
What do you think about this incident?
For more details, you can read it here:
https://cointelegraph.com/news/paypal-suspends-user-for-crypto-trading-using-paypal-s-own-service
Thanks. But don't forget trading has it limits on some exchange, to me my wallet is best for trading, I'll say I am already used to my wallet.
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When I saw the topic i honestly thought you were against DEX, but after going through the post I realized you are referring to PayPal, and I support this cause PayPal is a shady platform plus it is centralized meaning storing your bitcoin there is very risky cause your account can get banned at any time and you won't be able to retrieve the money in your wallet, left to me alone I would never use PayPal for crypto transactions, I have seen tons of people complaining about how their account got permanently banned, I don't want to be amount that list.
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When I saw the topic i honestly thought you were against DEX, but after going through the post I realized you are referring to PayPal,
Yes, I purposely created an abstract title, so I can see who is actually reading my thread and not,
I would never use PayPal for crypto transactions, I have seen tons of people complaining about how their account got permanently banned, I don't want to be amount that list.
A wise decision, because indeed there are so many paypal users who get into trouble for transacting using paypal, but we can't blame paypal because paypal has its own privacy policy, in my opinion it's better to use services that are specifically for crypto such as trust wallets.
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Trading is supposed to be in an exchange because if you trade on a wallet then it can pose a danger to all the assets you use unless you want to trade on the wallet so you have to provide a new wallet specifically for trading only.
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Trading is supposed to be in an exchange because if you trade on a wallet then it can pose a danger to all the assets you use unless you want to trade on the wallet so you have to provide a new wallet specifically for trading only.
That means you have to send your main asset to a temporary wallet then trade there? This is not a good idea if you are holding Ethereum, as Ethereum transaction fees are still very expensive, but of course it doesn't matter if you have a lot of Ethereum.
In my opinion, it is better to choose a wallet that provides instant swap services, atomic and trust wallets have this feature, even trust wallets have DEX features in their wallet.
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Have been seeing alot of complains like this, about how a user get blocked from accessing their PayPal account for no just cause, even coinbase do the same thing to some their users, I really feel for alot of them cause sometimes their accounts are blocked with huge amount of money inside, trying from a custodian wallet is very risky, it's best you trade in a DEX where no one can block or deny u access to your funds.
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I think trading on a crypto wallet will be more inconvenient than on an exchange. I usually just swap tokens in my wallet because I don't want to waste time.
Maybe some people don't want KYC tokens on an exchange, so they decide to do it in a crypto wallet.
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Every cryptocurrency address on the blockchain is tied to a pair of private and public encryption keys. The public key allows other users to send money to that address
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Yes i support your decision. Directly trade in wallet most of the time it is risky. If you use any non brand token then your wallet assets may steal by some one. So it should be avoid as early as possible.
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And why is that in question when the platform(PayPal) itself has permitted it? to use the Platform to buy and sell cryptocurrencies it's not clear why they do that. I guess it's because the transaction was too often and Paypal is charging the fees from their own pocket.
They permit by their wallet and after some days they escape from the decision. On the other hand scammer are always try to steal your assets they can make fake assets and influence to connect your assets. It is very risky to connect your wallet.
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Obviously, PayPal doesn't want traders to make money on it! I think it's worth just finding others.
Undoubtedly PayPal a strong Marchant organization which already given permission to use cryptocurrencies but we all trading on exchange not on PayPal wallet or any others external wallets.
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Have been seeing alot of complains like this, about how a user get blocked from accessing their PayPal account for no just cause, even coinbase do the same thing to some their users, I really feel for alot of them cause sometimes their accounts are blocked with huge amount of money inside,
I think the case of coinbase with paypal is different, although I don't know the specific reason for coinbase, but after all coinbase and paypal are different, coinbase is an exchange and paypal is a wallet, exchanges and wallets have different policies.
it's best you trade in a DEX where no one can block or deny u access to your funds.
DEX is indeed safer because you trade without moving your funds, it's just that you have to make sure the DEX you use is well-known, because otherwise there is a possibility that DEX is a scam, and the risk is that your funds will be vulnerable to hackers because your Private Key has never been used on the DEX. .
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I do not know how crypto buy-sell work in PayPal. My country doesn't support PayPal and what I understand trade in the wallet is trading with dapps. There are many crypto wallets that allow users to use DEX in their wallet and users bear the transaction fees. But what PayPal does is for their own business. No one wants to take losses.
Nobody is buying and selling on paypal, but the point of my thread is that someone stores cryptocurrency on paypal and repeatedly makes withdrawals and deposits to trade on other exchanges.
The trader took the opportunity because paypal did not collect a service fee until 2021. And yes, it's because paypal doesn't want to lose))
I have read many posts in the thread but did not get a clear idea, but the main point is revealed in your statement. Since PayPal has accepted cryptocurrency and there is no restriction, PayPal should allow the user to use his account at will if there is no security breach. If there is a security issue, PayPal should fix it; The user should not be restricted. My advice as a crypto user is to risk someone's cryptocurrency somewhere Should not be traded or invested.
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I have read many posts in the thread but did not get a clear idea, but the main point is revealed in your statement.
I purposely made this thread a little different from other threads, so I can confirm if someone reads my thread before replying))
If there is a security issue, PayPal should fix it; The user should not be restricted. My advice as a crypto user is to risk someone's cryptocurrency somewhere Should not be traded or invested.
There is no security problem on paypal, it is only related to paypal policy regarding users who use paypal as a cryptocurrency wallet, we as users of course cannot do much because it is the company's decision.
But there is nothing wrong if you try to give suggestions to paypal via email.
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Always we should make trade in exchange wallet. Personal wallet is your store house assets if you trade here you may have risk to loss your all assets. So avoid trade by connecting personal wallet.
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Always we should make trade in exchange wallet. Personal wallet is your store house assets if you trade here you may have risk to loss your all assets. So avoid trade by connecting personal wallet.
Wouldn't it be safer to trade linking your personal wallet to DEX? of course you have to use a very reliable DEX like UNISWAP, rather than you have to move your funds to a centralized exchange, because you do not have full control of your assets in a centralized exchange, unlike trading on DEX, you have full control of your assets that are in in your wallet.
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Always we should make trade in exchange wallet. Personal wallet is your store house assets if you trade here you may have risk to loss your all assets. So avoid trade by connecting personal wallet.
Wouldn't it be safer to trade linking your personal wallet to DEX? of course you have to use a very reliable DEX like UNISWAP, rather than you have to move your funds to a centralized exchange, because you do not have full control of your assets in a centralized exchange, unlike trading on DEX, you have full control of your assets that are in in your wallet.
When connecting our assets, we also deposit funds on the exchange and leave them there. So that in this way we can also lose coins if we do not immediately transfer them to our wallet. Such an example would be the Idex exchange. In addition, if there are few coins received from the bounty, then it is more difficult to sell them on such an exchange because there are certain limits on the withdrawal of the number of coins. And this is bad because it is impossible to simply withdraw such coins back if they have not been sold.
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Trading on an exchange is very good, but when trading using a wallet such as a platform that has DEX technology, it will be dangerous because everyone will know the private key and can be used by the website developer where the exchange is located, so stay alert and use a safe exchange to trade.
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Paypal already denied personal wallet security systems if anyone trading more and more within a short time duration.
Not only PayPal but also every marchant account should deny wallets trading. Wallets trading is very risky and it's have possible to lost money.
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I believe that trading from your wallet is the safest. However in the case of PayPal you're talking about OP, the PayPal wallet is not decentralized thus the exchange cannot be in the wallet. Using PayPal exchange put you at risk such as that you're sighting an example with, Centralization don't come with freedom but with restriction and strict monitoring.
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Yes you told right. I also think Trading On Exchanger is Best, And trading on wallet is not secure. Exchanger trading is best and it is also more secure. I never trade on wallet. PayPal already Denied to wallet trading. So i told that exchanger trading is best and secure.
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I have absolutely no interest in trading on a wallet, because I think that trading on an exchange is the correct trade. Trading on a wallet is definitely limited by many terms and conditions, whereas trading on an exchange we can do it with many options.
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So i told that exchanger trading is best and secure.
If you use DEX of course it's safe, but if CEX I don't agree, because it's safe and doesn't depend on the control you can do, and you don't have full control of your funds at CEX.
I have absolutely no interest in trading on a wallet, because I think that trading on an exchange is the correct trade. Trading on a wallet is definitely limited by many terms and conditions, whereas trading on an exchange we can do it with many options.
Very detailed terms and conditions exist only in wallets like Paypal, while wallets like Atomic or Trust wallets have simple privacy policies and don't harm their users.
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In my opinion, i feel this issue is related only to PayPal wallet, I use the trust wallet and i use it for trading both on several dexes on the erc20 dexes and also on the binance smart chain. I wil encourage others to learn to trade on the crypto wallets; it saves you fees and time, you can use dexes on your wallet apps be it a tron blockchain, or eth or bsc etc.
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In my opinion, i feel this issue is related only to PayPal wallet,
Yes, this problem only occurs in Paypal and I have never encountered a problem like this in other wallets, but maybe other wallets will have problems like paypal, so at least this problem can be a lesson for us.
you can use dexes on your wallet apps be it a tron blockchain, or eth or bsc etc.
I just heard Dexes, is it an android wallet like Trust Wallet?
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PayPal and others marchant wallets are risky to trade but some dapps are worthy to trade . Trust wallet is the best wallet where we can undoubtedly trade without Risk.
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PayPal and others marchant wallets are risky to trade but some dapps are worthy to trade . Trust wallet is the best wallet where we can undoubtedly trade without Risk.
I believe that each user chooses what is best for him. The fact is that when trading on a cryptocurrency exchange, you do not pay high commissions, which you have to pay, for example, in a mobile wallet. In addition, a negative example of trading on uniswap using metamask can be cited, where the commission for the transaction, as well as for the transaction itself, increases several times, which is very expensive for small traders.
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PayPal and others marchant wallets are risky to trade but some dapps are worthy to trade . Trust wallet is the best wallet where we can undoubtedly trade without Risk.
Yes, there is no doubt about trust wallets, we can see the price continues to rise until today and had touched the price of 0.4 usd per TWT.
In addition, a negative example of trading on uniswap using metamask can be cited, where the commission for the transaction, as well as for the transaction itself, increases several times, which is very expensive for small traders.
I have never been interested in using Metamask, there are too many issues, such as higher fees and also many wallets get hacker attact after using Metamask for a long time.
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In my opinion trading in wallet could be risky because wallet is not made for trading they are just for storing cryptocurrency for trading we can use exchange and other thing is in wallet fee is too high as compared to exchanges.
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Personally I think it all depends on the medium of trade and the wallet application. I mean, I have been using Luno wallet application for many times than I can keep track of and it has been excellent so far so good. Though I agree wallets shouldn't be made like an exchange but it could be used in quick time once in a blue moon. Recently, I used trust wallet too for Dogecoin.
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I have been here in the cryptocurrency for a couple of years now where most of the time the hackers attacked in the exchange, then one of the example for this before are Etherdelta, Mt. GOx, Binance, Kucoin, and more. This means that we need to be cautious anyway at all things that we are going to do here.
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Though I agree wallets shouldn't be made like an exchange but it could be used in quick time once in a blue moon. Recently, I used trust wallet too for Dogecoin.
Do you use a Trust wallet to trade Dogecoin? or just keep it?
Because I also occasionally use Trust Wallet to trade small amounts, like TWT when it was pumping a few days ago.
I have been here in the cryptocurrency for a couple of years now where most of the time the hackers attacked in the exchange, then one of the example for this before are Etherdelta, Mt. GOx, Binance, Kucoin, and more. This means that we need to be cautious anyway at all things that we are going to do here.
Mt.Gox is the old hacking news but the most popular because it hacked hundreds of thousands of bitcoins, but the Mt.Gox incident should have been a lesson for investors to keep their coins in the wallet, not on an exchange, unfortunately this doesn't affect that and some people still choose to keep their coins on the market.
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Some of you may be used to trading on wallets, but have you ever thought that it was risky?
Yes, recently a Paypal user in the US received a message from Paypal that his account was permanently limited for reasons of "potential risk",
The user said he buys bitcoins at a low price then sells them at a high price at least 10 times a week. because of this Paypal asks for an explanation for every transaction he does.
Paypal policy is currently not charging transaction fees for users who sell and buy bitcoin until 2021,
So in my opinion paypal is quite reasonable, because paypal does not want to get a loss due to high volume trading carried out by its users.
What do you think about this incident?
For more details, you can read it here:
https://cointelegraph.com/news/paypal-suspends-user-for-crypto-trading-using-paypal-s-own-service
One thing you have to understand is that Paypal is not a crypto currency wallet; PayPal is a universal payment platform that has incorporated bitcoin trading into its platform and mobile app. When we mention crypto currency wallets, we are talking about the likes of trust, coinomi, imtoken etc.
And in that respect; i say the wallet is the best place to trade; no unnecessary withdrawal or deposit charges, you complete swaps in 2 seconds and more.
Just keep your seed phrases safe
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Though I agree wallets shouldn't be made like an exchange but it could be used in quick time once in a blue moon. Recently, I used trust wallet too for Dogecoin.
Do you use a Trust wallet to trade Dogecoin? or just keep it?
Because I also occasionally use Trust Wallet to trade small amounts, like TWT when it was pumping a few days ago.
Yeah. I traded fiat for Doge recently when I needed to purchase some for the bullish trends through MasterCard. I think it was much easier without need for transfers for the fact that I can also keep them inside as a safe wallet too. I think it is a new feature.
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Though I agree wallets shouldn't be made like an exchange but it could be used in quick time once in a blue moon. Recently, I used trust wallet too for Dogecoin.
Do you use a Trust wallet to trade Dogecoin? or just keep it?
Because I also occasionally use Trust Wallet to trade small amounts, like TWT when it was pumping a few days ago.
Yeah. I traded fiat for Doge recently when I needed to purchase some for the bullish trends through MasterCard. I think it was much easier without need for transfers for the fact that I can also keep them inside as a safe wallet too. I think it is a new feature.
For Doge and other cryptocurrencies, a new cryptocurrency wallet called the Atomic wallet can be used very conveniently. You can be convinced of its usefulness for storing and exchanging cryptocurrencies. But I can't figure out how you used Trust Wallet to store Doge coin?
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If I do it for security reasons, trading on the market is certainly safer than trading on a Wallet! Besides that Wallet is for storing tokens, not for trading. So there is a place for each!
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If I do it for security reasons, trading on the market is certainly safer than trading on a Wallet!
But there are things that must be considered if the market is also not safe,, such as DEX which is better than CEX, and even you also have to choose an exchange that has high liquidity, such as Uniswap which has the highest liquidity rating on DEX and Binance which has the highest liquidity rating on CEX.
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Paypal already denied personal wallet security systems if anyone trading more and more within a short time duration.
PayPal doesn't understand this yet. They have added crypto anew. I think a world-class company like PayPal will be able to get the job done right in a few more days.
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If I do it for security reasons, trading on the market is certainly safer than trading on a Wallet!
But there are things that must be considered if the market is also not safe,, such as DEX which is better than CEX, and even you also have to choose an exchange that has high liquidity, such as Uniswap which has the highest liquidity rating on DEX and Binance which has the highest liquidity rating on CEX.
I understand that, but I still prefer trading on an exchange rather than trading on a wallet. Uniswap and Binance are highly popular exchanges with their respective advantages.
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PayPal doesn't understand this yet. They have added crypto anew. I think a world-class company like PayPal will be able to get the job done right in a few more days.
There is nothing that paypal has to do, it is purely paypal's policy for its users, so whatever the reason and the problem that is happening, I am sure it will not make paypal change the policy he has. at least in the near future ))
I understand that, but I still prefer trading on an exchange rather than trading on a wallet. Uniswap and Binance are highly popular exchanges with their respective advantages.
Yes, both Uniswap and Binance certainly have their respective advantages, that's no doubt because they are exchanges that have the best liquidity in the world.
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For Doge and other cryptocurrencies, a new cryptocurrency wallet called the Atomic wallet can be used very conveniently. You can be convinced of its usefulness for storing and exchanging cryptocurrencies. But I can't figure out how you used Trust Wallet to store Doge coin?
Yeah. You read that right. Trust wallet is a multi-currency wallet. And also, it supports both trading (though not a good practice) and storing of it. I don't know why you are surprised. Or maybe you aren't aware of this.
Go to your wallet. Search for Doge and click to create a wallet. Simple.
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For Doge and other cryptocurrencies, a new cryptocurrency wallet called the Atomic wallet can be used very conveniently. You can be convinced of its usefulness for storing and exchanging cryptocurrencies. But I can't figure out how you used Trust Wallet to store Doge coin?
Yeah. You read that right. Trust wallet is a multi-currency wallet. And also, it supports both trading (though not a good practice) and storing of it. I don't know why you are surprised. Or maybe you aren't aware of this.
Go to your wallet. Search for Doge and click to create a wallet. Simple.
Undoubtedly, Trust Wallet is a very good and reliable wallet, which are compared to the Internet by Meta Mаsk, But when it comes to trading in wallets or on cryptocurrency exchanges, then you need to choose between high commissions and security.
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It is not convenient for me to trade in the wallet, since I have a habit of working and trading on a PC. For this reason, I only trade on exchanges.
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If you want to trade you have to select any exchanger not in a wallet because wallet is not for buy and sell its just for store few currency. so don't use wallet for trading just try for hold.
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You are wrong, is not about the wallet but The main problem is because of the centralized wallet.. PAYPAL. Yes PayPal is the main problem
It's okay trading on the wallet, check Uniswap and other DEX.. direct on the wallet but everything okay..
So no more trust centralized company anymore, Leave PayPal and other centralized company alone and take your financial freedom
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I really have not traded using wallet before, cause I take wallet as a place I keep my coins and the exchange as a place I trade them for other coins. Trading with exchange is more safer as it is designed for trading and making exchange with your own coins for other coins, with different pairs and also other benefits of trading using that particular exchange. It is also more safer to trade in exchange to avoid mistake in wallet address, There are lots of benefits in trading with exchange than trading using wallets.
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Trade in wallet is very risky. I have seen one of my friend already have lost his all assets by connecting main wallet. So use exchange wallet that would be good decision.
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Trade in wallet is very risky. I have seen one of my friend already have lost his all assets by connecting main wallet. So use exchange wallet that would be good decision.
I also trade directly in my wallet connect my wallet to the platform and everything okay. It's not about trade on exchanges or wallet, but it's about what platform do you use. If you use the trusted platform you don't need to worry, everything safe
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I really have not traded using wallet before, cause I take wallet as a place I keep my coins and the exchange as a place I trade them for other coins. Trading with exchange is more safer as it is designed for trading and making exchange with your own coins for other coins, with different pairs and also other benefits of trading using that particular exchange. It is also more safer to trade in exchange to avoid mistake in wallet address, There are lots of benefits in trading with exchange than trading using wallets.
I agree with you, in general the Exchange is better for trading, a wallet is only a place to store coins,
but now many wallets support instant swap, you can use this menu for quick trading in case the market suddenly crashes deeply.
Trade in wallet is very risky. I have seen one of my friend already have lost his all assets by connecting main wallet. So use exchange wallet that would be good decision.
Ddoes your friend trade via DEX? and what DEX do your friends use?
however trading with DEX is not recommended using the main wallet, you have to create a second wallet to trade on DEX, this strategy is used to anticipate if the DEX you are using is a scam.
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Does your friend trade via DEX? and what DEX do your friends use?
however trading with DEX is not recommended using the main wallet, you have to create a second wallet to trade on DEX, this strategy is used to anticipate if the DEX you are using is a scam.
Very right Ayatoslaw. Particularly, I have come across such fake Airdrop and exchange (swap) ; VCC swap where VCC tokens are sent to participants Tron wallets and attempts to swap the tokens in VCC scam exchange steals all TRX present in such wallets. Dex are much risky. It is just better creating a separate wallets dealing with them.
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Connecting a wallet for direct trading is very risky. At any time the wallet may become empty. Moreover, the wallet is the place to keep all your assets. None of us want your assets to be at risk for a small trade. So avoid connecting the wallet as much as possible.
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I think wallet is just for storing funds and also making transaction like sending and receiving funds, it was never meant for trading. Exchanges are meant for trading, many are complaining about high transaction fees and insecurity in most exchange, try to look for an exchange which has strong security features and also charge low fees like Binance , coinbase, kucoin etc.
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So avoid connecting the wallet as much as possible.
Actually connecting a wallet to multiple DEX or wallets like metamask is fine, but with a note that the wallet you are using is a spare wallet, not the main wallet :)
try to look for an exchange which has strong security features and also charge low fees like Binance , coinbase, kucoin etc.
look for exchanges that have two wallets at once, such as exchange.bitcoin has both a hot wallet and a cold wallet,, so you have to move your main fund to the trading fund.
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That's PayPal, we don't call it a wallet, but we call it third party storage, and so risky using a third-party platform.
Are you familiar with Defi?? All defi projects using the direct wallet to trade it. Almost 3 months I joined Defi, From the Ethereum blockchain and now the BSC blockchain, I trade directly from wallet, and until now everything is safe.
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Almost 3 months I joined Defi, From the Ethereum blockchain and now the BSC blockchain, I trade directly from wallet, and until now everything is safe.
Trading on wallet and exchange can actually be done well, and it is a common thing. However, most people are more familiar with trading on exchanges. So they find trading on the wallet less convincing.
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Some of you may be used to trading on wallets, but have you ever thought that it was risky?
Yes, recently a Paypal user in the US received a message from Paypal that his account was permanently limited for reasons of "potential risk",
The user said he buys bitcoins at a low price then sells them at a high price at least 10 times a week. because of this Paypal asks for an explanation for every transaction he does.
Paypal policy is currently not charging transaction fees for users who sell and buy bitcoin until 2021,
So in my opinion paypal is quite reasonable, because paypal does not want to get a loss due to high volume trading carried out by its users.
What do you think about this incident?
For more details, you can read it here:
https://cointelegraph.com/news/paypal-suspends-user-for-crypto-trading-using-paypal-s-own-service
Trading from wallet seem safe, I noticed that was a good idea back when i did that in my luno wallet but for some reason like having access to many other cryptocurrencies, you my ight find wallet trading a bit limited to few options so for that reason, exchange trading still seems better for me and you most do this with only the big exchanges and of course there are always risk in all.
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PayPal will do anything to protect its users from losing their money, and that is why things like this happen! It's good to trade on exchanges and make PayPal the final wallet maybe to trade Bitcoins only twice per day to avoid any restrictions.
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It is never right to trade by connecting directly to the wallet. This is extremely risky. It is important to avoid this if you want to protect your wallet. Otherwise you can fall prey to hackers at any time.
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Connecting a wallet for direct trading is very risky. At any time the wallet may become empty. Moreover, the wallet is the place to keep all your assets. None of us want your assets to be at risk for a small trade. So avoid connecting the wallet as much as possible.
Cryptocurrency continues to develop rapidly and I hope that in the near future we will see new useful, convenient and safe opportunities for trading our cryptocurrencies. So far, I am only studying the possibility of trading from a wallet. It seems very convenient, but from a security point of view, I don't know. Many here warn about such a danger, but I do not see any specific complaints about hacks, for example, the Trust wallet.
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We need to use a secure and reliable wallet to trade it is not possible to save capital while trading without using a wallet this requires the use of a reliable wallet and wallet access cannot be shared with anyone. The number of scams is increasing due to the rapid development of crypto you can choose the wallet by analyzing the market well.
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At present there are some miscreants who are always looking at the wealth of others. Whom we call hackers. They always attack when they find various small bugs. In this environment it is more risky if you have all your assets in hand that means trade by connect wallet . So I think you should avoid by connecting wallet for trade.
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At present there are some miscreants who are always looking at the wealth of others. Whom we call hackers. They always attack when they find various small bugs. In this environment it is more risky if you have all your assets in hand that means trade by connect wallet . So I think you should avoid by connecting wallet for trade.
We cannot avoid hackers who have become a culture for them and have even become a source of livelihood, where they look for the weaknesses of everyone who are inconsistent in protecting their possessions, and there are still many that happen and never continue to learn from the mistakes they have made.
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Currently, with the introduction of DEX, many people decide to conduct transactions directly from crypto wallets such as MetaMask, MEW through the swap feature. However the transaction costs are quite high, around 0.3% + gas of the blockchain, so I don't think it's a good choice for full-time professional traders. It should only be considered as an option to increase the liquidity of tokens in wallets, but if for transactions, users should use CEXs such as Binance, KuCoin, Yobit, Houbi...
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Currently, with the introduction of DEX, many people decide to conduct transactions directly from crypto wallets such as MetaMask, MEW through the swap feature. However the transaction costs are quite high, around 0.3% + gas of the blockchain, so I don't think it's a good choice for full-time professional traders. It should only be considered as an option to increase the liquidity of tokens in wallets, but if for transactions, users should use CEXs such as Binance, KuCoin, Yobit, Houbi...
I agree and I don't really remember to see those as cryptocurrency exchanges and what goes on in there to me doesn't really sound like trading but swapping cryptos and like you said, those fees are way higher compare to centralize exchanges like you mentioned.
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Currently, with the introduction of DEX, many people decide to conduct transactions directly from crypto wallets such as MetaMask, MEW through the swap feature. However the transaction costs are quite high, around 0.3% + gas of the blockchain, so I don't think it's a good choice for full-time professional traders. It should only be considered as an option to increase the liquidity of tokens in wallets, but if for transactions, users should use CEXs such as Binance, KuCoin, Yobit, Houbi...
I agree and I don't really remember to see those as cryptocurrency exchanges and what goes on in there to me doesn't really sound like trading but swapping cryptos and like you said, those fees are way higher compare to centralize exchanges like you mentioned.
The fact is that decentralized exchangers will be in demand only among those cryptocurrency users who trade large volumes of cryptocurrency and therefore it is beneficial for them to hide their data so that in a certain sense they do not have problems in the future.
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Of course, everyone uses the exchange to trade cryptocurrencies, since this is the most secure place to trade.