Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Crypto Exchanges => Topic started by: BullTrader on February 21, 2025, 05:14:19 PM
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Hi everyone. Just thinking about this. Maybe we could share suggestions
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Hi everyone. Just thinking about this. Maybe we could share suggestions
Are you want to know something about the is our money on exchange safe on future ?
And I think you are asking this most probably because of the recent 1.4 billion hack from the bybit. And I want to say this is not only one incident we have sawn on this crypto space in before we saw many exchanger like even in the top two rank holder FTX crash should be keep in our mind and I also haven't forgot hotbit.
So holding our assets on the exchange is never safe so my opinion for exchanger just keep moving your fund from the cex.
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Choosing a secure crypto trading platform can be a time consuming task. However, it becomes easier if you follow the right guidelines. Each platform comes with different features and benefits. So, choose the right exchange according to your needs. In the future you will find many new exchange platforms and it will keep pace with crypto. But all exchange platforms will have varying degrees of risk and will never guarantee 100% security for your funds. However, to understand how secure your digital assets will be, it is important to know about the specific security measures used by the exchange.
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just go where most traders go. we trade on binance for spot and binance as well for futures market. i'm not a futures trader but what i know is that majority are doing it on binance. no other top exchange dethrone binance.
when you are trading on futures, you might as well do it where you can chat with few others on their channel.
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Choosing a secure crypto trading platform can be a time consuming task. However, it becomes easier if you follow the right guidelines. Each platform comes with different features and benefits. So, choose the right exchange according to your needs. In the future you will find many new exchange platforms and it will keep pace with crypto. But all exchange platforms will have varying degrees of risk and will never guarantee 100% security for your funds. However, to understand how secure your digital assets will be, it is important to know about the specific security measures used by the exchange.
I agree with you that if we look at it technically a little better, centralized exchangers are not 100% secure for high risk fund holdings, I think they are not even 5%. But still, most of us feel comfortable keeping our funds here because of only the lower trading fee. Although I think the short-term trader could use it but the fund shouldn't be hold for long-term here.
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just go where most traders go. we trade on binance for spot and binance as well for futures market. i'm not a futures trader but what i know is that majority are doing it on binance. no other top exchange dethrone binance.
when you are trading on futures, you might as well do it where you can chat with few others on their channel.
I don't trade on futures as well but my go-to exchange is Binance but this is before when they've been banned in our country. Then, my next stop was with bybit and I think that it has been an amazing alternative after Binance. Then, when the hack with Bybit has happened, I didn't think of any other exchange but maybe because of the shills that I have seen everywhere here and the btctalk, and with many local influencers being affiliated to it, I've went to bitget to move my funds there and sold most of the funds I've got from the former exchanges that I have been with.
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just go where most traders go. we trade on binance for spot and binance as well for futures market. i'm not a futures trader but what i know is that majority are doing it on binance. no other top exchange dethrone binance.
when you are trading on futures, you might as well do it where you can chat with few others on their channel.
I don't trade on futures as well but my go-to exchange is Binance but this is before when they've been banned in our country. Then, my next stop was with bybit and I think that it has been an amazing alternative after Binance. Then, when the hack with Bybit has happened, I didn't think of any other exchange but maybe because of the shills that I have seen everywhere here and the btctalk, and with many local influencers being affiliated to it, I've went to bitget to move my funds there and sold most of the funds I've got from the former exchanges that I have been with.
I believe that there are always shall be a rationale for every action so when it comes to the selection of an exchange, I always have a reason. The trust or the lack of it in a particular platform is determined by elements related to security, legal requirements, and the words or say of others. In this case, if you go for a specific reason then it indicates that you have not gone for fashion but for the currently available circumstances. However, this is also dangerous in that frequent change may lead to the loss of control over own assets. Therefore, I like to always have a Plan B where the funds are stored somewhere else or only a limited amount is exposed to the potentially inexperienced fluctuations. People can get more or less profits on the exchanges, but the choice all the time remains and lies within our own hands.
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I don't do futures, but if I were to I would likely go with binance as it has plenty coins, enough liquidity and is a reputed platform.
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just go where most traders go. we trade on binance for spot and binance as well for futures market. i'm not a futures trader but what i know is that majority are doing it on binance. no other top exchange dethrone binance.
when you are trading on futures, you might as well do it where you can chat with few others on their channel.
I don't trade on futures as well but my go-to exchange is Binance but this is before when they've been banned in our country. Then, my next stop was with bybit and I think that it has been an amazing alternative after Binance. Then, when the hack with Bybit has happened, I didn't think of any other exchange but maybe because of the shills that I have seen everywhere here and the btctalk, and with many local influencers being affiliated to it, I've went to bitget to move my funds there and sold most of the funds I've got from the former exchanges that I have been with.
our country banned binance. i understand that some of us also stopped using them . however i'm just used to using it and i don't have any other account to other exchanges. after all binance still is accessible using the apps so there is no problem in it besides there are lots of us buying p2p transacstions.
i did try futures in binance back when we need to borrow using our coins. i'm not sure how to it anymore. that was just a test and lost the small capital. its just less than a hundred. i'm not comfortable with leverage.
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I don't do futures, but if I were to I would likely go with binance as it has plenty coins, enough liquidity and is a reputed platform.
I also stay away from Futures, I've had enough stress being in this market and I'm not ready to use leverage for my trading strategy, at least not until I'm confident in my trading skills and mental management. Some of my friends have gotten rich from Futures, which makes me curious and want to join, but I know my own limits.
Personally, I think until traders can view trading as a boring game of probability and capital allocation, they shouldn't rush into Futures. Spot might be a more suitable service for them to buy and sell without using financial leverage.
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I don't do futures trading, so i cannot directly recommend any exchange to you, however, you can do futures trading on any 'reputable' exchange. I believe the question should be if you have the skills to handle the risk in futures trading and not even the exchange to trade.
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I don't do futures, but if I were to I would likely go with binance as it has plenty coins, enough liquidity and is a reputed platform.
I also stay away from Futures, I've had enough stress being in this market and I'm not ready to use leverage for my trading strategy, at least not until I'm confident in my trading skills and mental management. Some of my friends have gotten rich from Futures, which makes me curious and want to join, but I know my own limits.
For people don't know how to trade, futures is as good as gambling and even if you may have made money from it before (all credits to sustained bull trend), that money is bound to go sooner or later.
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Nothing have changed my approach towards exchanges, i already know them to be of two kinds, the decentralized ones and the centralized exchanges, which i also know why i should use either of them all for my safety and conveniency, once its all about privacy, then i should consider the use of a decentralized exchange while a centralized one should only be considered for trading and exchange of currencies, this will make me not to be in panic over what the future may gives upon my portfolio in crypto while using the secured one.
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For people don't know how to trade, futures is as good as gambling and even if you may have made money from it before (all credits to sustained bull trend), that money is bound to go sooner or later.
I agree, and even if you know how to trade, you can have a very bad streak trading futures or any kind of trading for that matter. So many people believe that trading and gambling are completely different, but i do not agree, i think they share similarities and risks.
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Hi everyone. Just thinking about this. Maybe we could share suggestions
I have not used any other exchange to trade asides from Bybit. I have other exchange apps but I haven’t traded there before or even if I did it may just be once or twice. This is not because other exchanges are not good for trading but because I’m convenient using it and allows me for their P2P service in my region. Bybit may not be a top exchange but since I don’t keep funds there for too long and just for trading, I don’t have problems using their services or fear of hack or freeze of large funds from there.
Hi everyone. Just thinking about this. Maybe we could share suggestions
And I think you are asking this most probably because of the recent 1.4 billion hack from the bybit. And I want to say this is not only one incident we have sawn on this crypto space in before we saw many exchanger like even in the top two rank holder FTX crash should be keep in our mind and I also haven't forgot hotbit.
ByBit hack really made a lot of people to be concerned about their funds in the centralized exchanges but I was happy how they handled the whole issue and resolve it without people funds been held or blocked from withdrawal due to the hack. This is just another remembrance that we should not always leave out funds in an exchange for too long when we are not using it for something there like trading or for p2p services. It’s risky and unsafe.
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ByBit hack really made a lot of people to be concerned about their funds in the centralized exchanges but I was happy how they handled the whole issue and resolve it without people funds been held or blocked from withdrawal due to the hack. This is just another remembrance that we should not always leave out funds in an exchange for too long when we are not using it for something there like trading or for p2p services. It’s risky and unsafe.
In fact, I would call Bybit Exchange very lucky in this journey because if they had not received proper support from the situation they were in, their comeback would not have been possible. In particular, they have received support from every crypto whale and giant platform that has been able to create a positive impact on people's minds and moreover, their financial partners have financially supported them and those are the main cause of recovering themselves.
But that doesn't mean it will be happen every time we also see the ftx exchanger so for storing fund for the long term I think avoiding centralise exchanger would be wise idea
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As far as Cex exchanges are concerned, there are many them to actually trade the future options, like Binance, Bybit, Kucoin, Gate, and many others are all great exchanges to trade future options. I don't frequently trade future but I have used Binance and Kucoin exchanges at sperate time to trade future and they are great exchanges.
However, trading future requires experience and attention, you must be on the watch to the market trends, and to reduce losses, future traders must trade with "Stop Loss" features to avoid being liquidated.
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As far as Cex exchanges are concerned, there are many them to actually trade the future options, like Binance, Bybit, Kucoin, Gate, and many others are all great exchanges to trade future options. I don't frequently trade future but I have used Binance and Kucoin exchanges at sperate time to trade future and they are great exchanges.
However, trading future requires experience and attention, you must be on the watch to the market trends, and to reduce losses, future traders must trade with "Stop Loss" features to avoid being liquidated.
I also use Binance for futures trading, but only for a short time and don't use futures trading anymore because of the greater risk.
There are no problems with futures trading on CEXs at the moment, they all have complete features and are indeed quite competitive,
but my first experience was with Binance.
Now I focus on Spot trading and long-term investing, no longer using Futures trading because it is indeed high risk and I have also lost a lot of money in futures.
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Hi everyone. Just thinking about this. Maybe we could share suggestions
Well, my go to exchange for futures trading is no other than Binance, this atleast for a long time now have remained the top exchanges in terms of trading volume and liquidity, and we all know that futures trading requires good liquidity as this is the only way traders can be able to buy and sell instantly without any form of delays and also at the market prices.
Another good option aside Binance is Bybit, Bybit has been up and doing very well for themselves, with their good relation with Binance, I am not surprised at their success since I remember how small this exchanges started back then, and today, its one of the top exchanges around in the world.
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I also use Binance for futures trading, but only for a short time and don't use futures trading anymore because of the greater risk.
There are no problems with futures trading on CEXs at the moment, they all have complete features and are indeed quite competitive,
but my first experience was with Binance.
Now I focus on Spot trading and long-term investing, no longer using Futures trading because it is indeed high risk and I have also lost a lot of money in futures.
We shouldn't play with our future. It's really dangerous for our accounts and our fate in this market :)
So many famous people on Youtube always encourage their followers to join Futures through their referral links to CEXs like Binance and Bybit, maybe because the commission fees are really attractive. I don't touch Futures, I see it as just a tool that CEXs create to make money from customers more easily by amplifying greed through financial leverage.
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So many famous people on Youtube always encourage their followers to join Futures through their referral links to CEXs like Binance and Bybit, maybe because the commission fees are really attractive. I don't touch Futures, I see it as just a tool that CEXs create to make money from customers more easily by amplifying greed through financial leverage.
Every trader in the YouTube showcasing their wins and encouraging users to join through their referral links are all showing signs of them depending very much on this commissions given to them. These exchanges are encouraging them to bring more customers to them while they also get their benefits through the losses incurred from this newbie traders. Trading futures may be very risky and not advisable for a beginner to venture into it, but what is most important is that you should have the right knowledge of it, you’ll end up being amongst those that will be rated above the 1% of speculated profitable traders.
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Exchanges remains what they are, you cant avoid them and you must not rely on them, because they have risk in which they are known for, we should not have our assets on them for a long time, because they are custodial exchanges and they can be hacked while our asset on them can be under the risk of not been recoverable if anything happens, because we do not have the keys to unlock them on the blockchain as coded, while on the other hands, they can be suitable for trading and you get lots of offers on them.