A wallet as a container of money or exchange?

[Learn Bitcoin]

80% in the wallet 20% in the exchange if you are not looking to sell.

60% in the wallet 40% in the exchange if you are looking to sell

if you do sell pull most of the cash out.

I am interested in knowing what you do as a miner. Especially after halving. Do you really plan to sell some of your earnings to pay electricity bills? Are you guys mining at a profit at this moment? Do you keep your money on exchanges just as you described here? If these are not too personal questions, I guess the answers will be interesting.

Even though it is not recommended to keep money on exchanges, sometimes we have to move funds due to the network congestion and the fees. Maybe you don't have this problem because you can add your transactions as a miner 

[Dr.Bitcoin_Strange]

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What we need to remember is, no exchange has perfect security, so all sorts of bad things could happen at any time, including hacking or other things that can cause loss of assets.

Exactly why it's not advisable to keep your funds in an exchange, not 20%, not even 10%, no matter how reputable you feep the exchange is (except of course it's a DEX), 100% of your crypto asset should always be in your wallet, except maybe you have short-term needs for that asset on that exchange, maybe you're a trader or something, other than that, an exchange is never an advisable storage option.

[taufik123]

-snip-
But that wasn't my point. I was pointing why people still using centralized exchanges and how these exchanges attract people with their promotional offers.

Offers and some promotions that are given make people interested in using it, but it is not recommended as storage.
I won't be hypocritical because I also use Binance as my trading venue, but the storage of key assets is certainly in the safest Hardware wallet.

Some exchanges provide protection to their consumers when there is indeed a hack or something like that with appropriate refunds.
Like the SAFU implemented by binance, with these funds Binance will guarantee the user's balance will be guaranteed.

[Learn Bitcoin]

Offers and some promotions that are given make people interested in using it, but it is not recommended as storage.
I won't be hypocritical because I also use Binance as my trading venue, but the storage of key assets is certainly in the safest Hardware wallet.

I agree with that, and I also use Binance and a couple more exchanges to trade. I also use a wallet like the electrum to hold my BTC for a long time. However, I also use CEX if the amount is not significant. I wasn't talking about storage but why people are still using centralized exchanges even though they know that exchanges are not safe.

As you know, very lately I started doing airdrops and fortunately, I have started making some money doing airdrops. Exchanges also offering web3 wallets these days and I am using those exchanges to farm web3 airdrops as well.

[joniboini]

As you know, very lately I started doing airdrops and fortunately, I have started making some money doing airdrops. Exchanges also offering web3 wallets these days and I am using those exchanges to farm web3 airdrops as well.

Are you referring to wallets like Binance Web3 wallet? I used them once, don't remember whether I can export my seed or not. Even if I can, I don't feel comfortable with the risk of them storing my seeds on their end. Why not use a wallet like MetaMask if you plan to hunt for airdrops? Is it because of the airdrop requirement? I installed multiple web3 wallets on my browser and I can use them to hunt airdrop just fine.

[taufik123]

As you know, very lately I started doing airdrops and fortunately, I have started making some money doing airdrops. Exchanges also offering web3 wallets these days and I am using those exchanges to farm web3 airdrops as well.

Are you referring to wallets like Binance Web3 wallet? I used them once, don't remember whether I can export my seed or not. Even if I can, I don't feel comfortable with the risk of them storing my seeds on their end. Why not use a wallet like MetaMask if you plan to hunt for airdrops? Is it because of the airdrop requirement? I installed multiple web3 wallets on my browser and I can use them to hunt airdrop just fine.

Some airdrops do suggest using a designated Web3 exchange wallet.
like OKX or Bitget who have a lot of airdrop events for their Web3 Wallets.

But to hunt for other airdrops, I myself don't just use web3 wallets generated from exchanges because of security concerns and private keys they might also hold.
it is safer to generate your own Multichain wallet using Metamask or other wallets or using a Hardware wallet which is certainly safer.

[Learn Bitcoin]

But to hunt for other airdrops, I myself don't just use web3 wallets generated from exchanges because of security concerns and private keys they might also hold.
it is safer to generate your own Multichain wallet using Metamask or other wallets or using a Hardware wallet which is certainly safer.

Well, I already have my metamask wallet which I use to participate in various airdrops. But, as you know, the exchanges we were talking about also offer airdrops in their web3 sections these days, which is the reason we have to use a web3 wallet generated on exchanges. I don't know if exchanges keep the private keys or not. I don't think they are going to do that because if they get exposed keeping users web3 wallet's private keys or seed phrases, they are going to bankrupt bro! Anyway, did you participated in BWB launchpad today?

[taufik123]

Well, I already have my metamask wallet which I use to participate in various airdrops. But, as you know, the exchanges we were talking about also offer airdrops in their web3 sections these days, which is the reason we have to use a web3 wallet generated on exchanges. I don't know if exchanges keep the private keys or not. I don't think they are going to do that because if they get exposed keeping users web3 wallet's private keys or seed phrases, they are going to bankrupt bro! Anyway, did you participated in BWB launchpad today?

Let's hope not, some pretty big exchanges like OKX and Bitget won't do such dirty acts.
I didn't participate in the BWB launchpad, I was late and also forgot.
But it is quite potential for BWB tokens because it is the official token of Bitget Wallet

[Learn Bitcoin]

Let's hope not, some pretty big exchanges like OKX and Bitget won't do such dirty acts.
I didn't participate in the BWB launchpad, I was late and also forgot.
But it is quite potential for BWB tokens because it is the official token of Bitget Wallet

I participated in their launchpad and committed 500 USDC which was also the maximum amount for a wallet. The launchpad ran only for 20 minutes even though the event was designed to run 24 hours. They have reached a max capacity of 1.275 Million in just twenty minutes. Unfortunately, I got only 300+ BWB tokens and they took 32 USDC. After claiming the tokens, they returned me the rest 468 USDC.

The pre-sell price for BWB toke was only $0.1. But most people expect a good listing price. If it lists above 0.2, I am okay with that. Have you joined any of the Blast airdrops apart from D1?

[MUGNIA]

I come to the question when I have to make such an important decision, should I choose the first or the second option, which is better and safer for you people? How long do you leave it on that option?

I think it's more like a wallet as a money container because basically the use of a wallet is for storing, not for exchange,
If I want to exchange, I usually send to the exchange and use a special wallet if I want to connect to the exchange platform

[taufik123]

I participated in their launchpad and committed 500 USDC which was also the maximum amount for a wallet. The launchpad ran only for 20 minutes even though the event was designed to run 24 hours. They have reached a max capacity of 1.275 Million in just twenty minutes. Unfortunately, I got only 300+ BWB tokens and they took 32 USDC. After claiming the tokens, they returned me the rest 468 USDC.

The pre-sell price for BWB toke was only $0.1. But most people expect a good listing price. If it lists above 0.2, I am okay with that. Have you joined any of the Blast airdrops apart from D1?

Some of my friends also participated in BWB Launchpad, but they did not get the allocation because maybe they were late because of the large number of users who wanted to participate.

You get 300++ BWB already lucky enough, despite the pre-sale price of $0.1 I'm sure it will be 3x-5x when the listing is done.
Just need to see how the hype will be.