CEX

Dolobene

Yes, and it could be even lower, if people would take their coins from their CEX accounts.

MiguelLancaster

you pay network fees - which are obviously variable - and maker/taker fees which can be reduced significantly by paying them with [BSQ](https://bisq.wiki/BSQ) (talking, like 3-4 cents) network fees usually end up being a little over a dollar, but I've paid as much as $4ish if mempool is super busy (pretty atypical) I usually get trades accepted with a price spread around 2% but you can set your own -- you may have more luck with a lower fee especially on a larger trade, or if you're in a hurry a 3% fee should be more attractive. I think once I did a 4.5% spread trade just cause I was in a hurry spread obviously isn't competitive with a CEX, but if, for whatever reason - completely unrelated, obviously - you wanted to keep your gains tax bracket in mind as a comparison, the spread is reasonable

timelesssmidgen

Ok I'm just reading about WLFI now. Trump's never been associated with an honest business yet, so this is obviously a scam/ponzi/rugpull, but I'm curious how egregious it is. Is it true you can't sell your own coins (and if so is that an intrinsic thing with the coin, or is it just because it's new and there's no DEX/CEX to trade it?)

uncapchad

afik the banks and exchanges have you stitched up. Proof of Origin of funds is mandatory in the UK. Things from unverifiable sources are tricky to sell. A CEX can flag and ask you to remove your coins, close your account. If you sell using a DEX or other peer-to-peer, your bank then climbs in and wants to know where that cash came from (name, address etc). So your safest bet is buying and selling on a registered exchange with all the KYC and everything else that goes with that. That said, if the coins have been in the same address for 10 years, you might get lucky selling on an exchange. Precisely what and when their trip-wires trigger is not clear. You could try maybe sell a small amount on a CEX and see what happens. I recently sold 8 year old coins of unverifiable source on a CEX with no issues. Not BTC - I never sell BTC /s

Every_Hunt_160

This is bloody ridiculous So we can't send test transactions to CEX or they will flag us? That's scary as hell knowing they can shut our account down anytime and steal our coins. Almost as bad as a dictatorship government eh?

SouthJazz1010

I just want to give you my reason for that, I mainly believe in supply and demand. The price of BTC is decided on each exchange separately, (arbitrary trades are possible etc). The supply has increased, but a lot of coins are lost, nobody can tell exactly how much is lost, but I would be surprised if not an amount was lost every day and many coins have been taken of the exchange, it's never been so much money pouring in from ETF, pension funds, governments, financial institutions etc. many of those are long time investors that not having the coins on a CEX or planing on selling them at the moment. It's a hard cap on BTC, but due to the reason I mentioned, it's a lot of coins that shouldn't be accounted for. So I see no reason to stirring at the market cap too much! Last time 2020 a lot of people were skeptic that BTC wouldn't soar a lot due to covid etc because people had lost their job, but BTC manage ~8x regardless. I got the feeling that it wasn't until the end people started to predict $100K and if it wasn't for FTX paper BTC maybe it would. You always have people with unreasonable high predictions though, but with all my arguments I think ~ 4X is reasonable.

GreedVault

>Unless you know the exchange CEO. Then you’re good. I know quite a few CEX CEOs, including CZ, Justin Sun, and SBF.

thistimelineisweird

I dont think this is going to impact the number of total validators. Let's be honest, if you want to stake sub 32 ETH you're doing it on Coinbase, Rocketpool, etc. I have < 32 ETH and it's staked on a CEX. All this change would do would let me move my tokens off exchange to run my own validator without giving them a cut in the process. If you're not staking already, you're probably not going to be motivated enough to launch a validator. 

kopeboy_

I don’t know about the specifics on testnet, but it’s on mainnet already so anyone can try spamming & shorting it. Yes, having more accounts ready to spam gives you an advantage, but you can only degrade performance in your buckets. Accounts say with 10X and more will still have more than half of the network capacity for them at any given moment. The cost to attack is the opportunity cost of holding XNO, and if you are holding it significantly while spamming, maybe you don’t want to profit from shorting it on CEX but in other ways, if they exist.

Krr29

Quick question, are you looking for a custodial wallet platform that’ll let you withdraw funds promptly or a CEX

lockduck1

Swap to USDT in a DEX and use those USDT to buy Bitcoin in a CEX. Now you have clean Bitcoin, at the expense of KYC of course.

Schwazwanga

Yes, crypto can be much faster and cheaper to transact with. The key is to find a good way around CEX to minimise the risks of blocking. I think the big challenge for business is still the lack of sufficient infrastructure and clear regulatory rules. But if there are more cases like this, it will definitely be an impetus for change

tripstra

A true utility coin is $Zypto with its own ecosystem with various financial tools for both businesses and private users worldwide to really make the use of crypto easy. The Zypto company recently published a global partnership with MoneyGram and their 400K+ locations which will enable the conversion of Crypto to cash and Cash to crypto for the crypto holdings stored in the versatile all-in-one Zypto crypto wallet app. The Zypto app is available both for Android and iOS and replaces former alternatives, but also gives daily payouts in Zyps to holders and it can be connected to physical and virtual debit cards from companies like MasterCard, Visa and American Express. $Zypto has currently a market cap of around 11M and with more exposure thanks to the MoneyGram deal and several others to be made public, as well as CEX listings - the next one being BitMart on October 16th - buying pressure for $Zypto will increase. For more info see www.zypto.com

customsolitaires

I assume that personal CEX accounts with BTC are not list here, correct?

ZombieDracula

Ah, I see, I misunderstood. I thought you meant that the CEX could still freeze your funds.

aaj094

Let's say someone has some btc that they think may be tainted. Now if they have a self custodial lightning wallet and have a channel open (for example using Phoenix wallet or similar), there is nothing to prevent them depositing these btc into that channel and increasing it's outbound capacity. Note that in trying to do so, at no point can their btc get frozen because it's always in their custody. But once the channel capacity is increased, now there is also no reason why they won't be able to make a lightning deposit for the full outbound capacity to a CEX who accepts lightning deposits. The CEX is only looking at their inbound channel (and this isn't even going to be with you) so there is nothing they have visible to tell them about the nature of your btc. So my question is: How come this is not a way anyone can make valid deposits to a CEX of btc that may be tainted and yet never run the risk of having their deposit withheld or frozen? The only entity who could see your deposited btc is the entity you have the channel with but even they cannot actually freeze your btc. At best they may refuse to open the channel. Still, this means the situation is a lot better than getting surprised and having your btc frozen after depositing on a CEX.

RunAndHeal

Exactly. The fact that many started to hodl outside of CEX DEX show a great level of security awareness but not necessarly that it goes up soon. Although I believe it will!

bence_kobe

Your strategy of converting crypto to USDC on a DEX before transferring it to a CEX like Kraken or Coinbase is smart, especially for minimizing fees. Here are a few tips to consider: 1. Transaction Fees: Keep in mind that while DEXs may have lower fees for swaps, check for any network fees associated with transferring to the CEX. 2. Account Verification: Make sure your accounts are fully verified. CEXs are more likely to freeze accounts that exhibit unusual activity, especially with large amounts. 3. Transfer Limits: Be aware of transaction limits on the CEX. Moving larger amounts may trigger alerts, so it might be wise to break it into smaller transactions. 4. Document Everything: Since you plan to report your taxes, maintain thorough records of all transactions to avoid issues later. 5. Community Feedback: It’s always a good idea to share your experiences or ask for insights from others who have done similar transfers to learn from their experiences regarding any account freezes. Staying informed and cautious is key to navigating this space successfully!

OMFGROFLMAO2

Every transaction has a trail, if the CEX sees something fishy and you can't prove the origin of funds, you might get locked. If everything is above the table, you shouldn't have any problem.

SpeedFarmer42

Aye but my point with anonymity is mainly about it being traceable and marked as "dirty" which enables CEX's to freeze your assets if you try to cash out through them, even if you haven't been involved in illicit activities but have obtained sats that were once used in said illicit activities. I don't think many people are using BTC to buy drugs these days. BTC is dead on the dn markets.

Far-Construction8826

Don’t trust any CEX fully so try to spread across Binance, CDC and Gemini. Avoiding Coinbase like the plague. But this is EU, conditions, circumstances and ease/requirements certainly vary from jurisdiction to jurisdiction so I wouldn’t dare to give a universal recommendation…. Heard bad things about Binance for US users for example and Coinbase being a breeze there. So I woukd actually suggest trial and error for yourself for any beginner- some prefer to pay higher spreads for easier UX (such as CDC) while some prefer other features

Far-Construction8826

Yupp that’s my concern too - CEX or not- at one point you still have to cash out (unless we live so long that fiat has become obsolete). For me (and probably for a lot) it would be retirement, for example… So that’s also why I wouldn’t go all in on crypto as only investment in my portfolio (or any other asset either for that matter)

Far-Construction8826

I would guess those people complaining are transacting on heavily KYC:d CEX platforms in regulated countries- with dirty money - and then complain about why AML/Source of Funds questions are being asked “But I thought it was OK with my bank to do a $1million transaction no questions asked- as long as I was just buying bitcoin”. (Actually just saw a post somewhat like that) Thinking that as long as it is crypto involved it automatically grants them any immunity from scrutiny and full entitlement to bypass any AML registration of a regulated CEX

SpeedFarmer42

In my mind this begs the question. What's the point? "Dirty BTC" is a thing now, there are no end of posts on Reddit of people having funds frozen in CEX's for being linked by BA to "illicit activities". Granted I can see that it would offer more recourse than traditional financial institutions, but doesn't the fundamental problem remain the same?

PsychologicalBoss976

I think we have got more CEX’s lined up soon 

Hungry-Class9806

>Wouldn't selling ADA at higher rate apply more downward force on it's price? If you're talking about dumping ADA on the Cardano network or in a CEX, yes because there's an exit of liquidity. The tokens will still exist but there will be less money backing them. What I am talking about is if you increase network activity by making Cardano a more interesting ecosystem for users to interact and developers to create, more people will buy ADA and will spend it on transactions or stake it. This way, there will be an accumulation of liquidity, there will be a scarcity of ADA and the price of the token will tend to deflation. That's my entire point.

JerryLeeDog

Support it by leaving coins on a CEX and suppress the price? wut

diradder

> I'm not talking about the theoretical gospel Neither am I, you pretend Bitcoin is restricted/limited and it's not. Stick to facts. > As the other person pointed out, you traded the issues with banks for issues with CEX Purely hurdles places by fiat systems, not Bitcoin. > It [marketcap] represent nothing. If I create a crypto with 1 000 0000 tokens, buy one to myself for 10 dollars, the market cap is 10 000 000 dollars, We' talking about Bitcoin, marketcap at that scale of usage and investment is representative of more than "nothing"... you're just disingenuous. > As for the "bitcoin can easily serve as a currency", with its 7 TPS, X for doubt. Nobody will ever use BTC as a currency in the real world. People are using it as currency in multiple countries, internationally, so you're just factually wrong. And that figure only encompass the base layer, higher layer**s** scale Bitcoin up way past this.

Maisquestce

I understand that one wouldnt want to trust a CEX with that kind of money. I also understand that if you found a middleman, he probably gave you some sort of warranty and thus charged a significant amount.

Maisquestce

Wouldn't the CEX be the middleman? There usually is a fee to convert fiat to crypto but it's not that huge, is it ?

CAMT53

Because bitcoin mass adoption depends on people eventually just accepting bitcoin for payment. Until that happens you will always rely on CEX to use it. CEX should only be required to purchase for now, and hopefully it can just be spent directly as bitcoin after that. Until that happens, regulation is going to kill all the momentum.

Every_Hunt_160

Remember, the CEX and market makers can see all their customer's long and short orders and huge ones like Binance have been outed for trading against their customers

ZombieXRD

Well we just had some of our biggest whales exit, and they exited Radix altogether, so I expect that when a Radix recovers we will recover at a very rapid pace and without the weight of those whales keeping us down. Of course! We are always working on new things. We just launched a trade bot, and we will be looking to land our first CEX ASAP.

imwco

If they’re accumulating OTC, what’s to stop them dumping on CEX all at once and tanking the price?

CaptainDr

Not from CEX, so these are OTC transactions that will take longer to effect price. But it will happen eventually

WellThatsNoExcuse

I don't mean tainted as in its evil crypto, simply that you can't just send it to a CEX and turn it into cash like that. Fiat is certainly tainted, but it's not on a public blockchain that can track it wherever it goes.

absurdcriminality

If you got it on a CEX you use regularly it is a leveraged trading coupon. You basically purchase crypto with 10x leverage (in your case you buy $200 worth of crypto with $20) but if the price keeps going in the opposite direction long enough you get liquidated. Again, only use this if you got it from a trusted source. If it's some random person or website online just leave it.

SunDreamShineDay

It’s decentralized, big whoop it is delisted on CEX’s no surprise there, DEX’s mate

Netroseige101

How do you spend bitcoin directly, without converting it to fiat or using any CEX?

soggyGreyDuck

Holy shit, it's actually working! They can't water down BTC like they have the USD if most of use use hardware wallets. How much of this is the ETF though? I'm assuming every BTC locked up in the ETF is not available on CEX exchanges

Abdeliq

Don't use CEX

Abdeliq

It really sucks trying to get your money out of CEX and have to pay a lawyer for it. Fvck all CEX out there

Abdeliq

And a quick reminder to never trust CEX.... They're all the same

gaston_007

Bunch of bullshit… this comment it is a well know crafted scam where they pray on the less tech crypto savvy, don’t fall for it. Don’t go to the website that they tell you to find out more about AML bullshit. You do that you’ll lose your crypto. Just that simple. Nobody can tell you if your wallet has been tinted by interacting with other wallets that are suspicious or that your wallet will be frozen as soon as you move your crypto to an CEX exchange like Coinbase of the likes due to suspicious activities, NOBODY KNOWS!! These pieces of shit only want to make your wallet interact with their site to steal everything you got. You’ve been warned. Don’t be stupid

GreedVault

on ramp is easy, off ramp is hard, all CEX wants to keep your funds stuck

ZombieXRD

50% of that revenue goes towards buybacks, and the other 50% is held in a treasury that we use for things like marketing expenses, market maker fees, and CEX listing fees.

Jackfruit71618

Agreed, I see it as a way to off ramp without putting so much trust in a CEX who might freeze funds for any reason or no reason at all. Question is how long until the average Joe uses crypto in their spending without really knowing the difference

ZombieXRD

Hey we are so glad to have you! I think you picked a good time to enter. Well we will do things like this AMA, we create a ton of content for social media engagement, we have great relationships with the best builders in Radix and with many influencers. Earlier this year Ivan on Tech did a big airdrop for us, which really helped get us on the map. Moving forward we will continue this, but we will also do things like acquire CEX listings to broaden our potential market, or integrate with decentralized trading platforms like Thorchain/Maya. We may even look at going a fully cross chain route, but for now Radix is where we want to be for very strategic reasons.

WellThatsNoExcuse

Now that's interesting. So say you sell a million dollars worth of Lamborghinis, then send a million in monero to a CEX business account, they say whoa where'd that come from, and you send in the bills of sale, would they let you cash that out, or quickly close your account for being too hot to handle? I have an odd hunch it's the latter, so I wonder how companies that do this cash in their monero...

Xylber

Blacklisted cryptos by... who? governments? CEX? what's that? I swear you guys learn to use cryptos with the government. What's next? "Decentralized cryptos are bad, and CBDCs are good"? Get any crypto and ask the seller if he/she accepts it, like the pizza guy who asked the pizza seller if he accepts 10000 BTC for the pizzas.

Lumpy-Initiative-779

Monero I think he’s talking about Monero.Boats which has a street price high than what it shows on CEX

Every_Hunt_160

People really forget that the C in CEX stands for CENTRALISED

Paparacisz

Once your crypto is on a CEX, it's no linger decentralized.

Every_Hunt_160

The hacks are mainly not happening on CEX it usually happens when someone interacts with a malicious contract on their personal wallets

MaximumStudent1839

What are the more “solid projects”? In crypto, you realize a chain’s success is not just the dev, but also its community backing it. Besides SOL, ETH, and some scattered others, most other chains have lame duck communities. They come on Reddit or CT to bitch about how their tech is better or how they are more “righteous”. But they probably spend more time whining than pushing on chain activities. All of them just sit back, stake, or DCA on a CEX and wait for someone else to come and realize how good their tech is to make the real difference. It is so lame and sad. You can criticize degens gambling. But at least they are taking meaningful action behind their speculation. A whole lot of others are just speculating for someone else to save them. Why did VHS win? It is because of adoption. If you think there are better tech, then you should use it daily and encourage others to use it, rather than speculate to buy on CEX.

Abdeliq

This a quick reminder to only use CEX to withdraw money back to your local bank. Don't keep your funds in CEX

grajnapc

Since you know nothing I’d use a CEX like Binance to hold your Btc. Then dollar cost average in every month. You should diversify into stock funds as well and build your portfolio, the percent depends on your risk tolerance. Then hold and add to these portfolios until you have enough to retire.

Every_Hunt_160

Why would customers specifically buy BTC through them instead of buying through a CEX?

Every_Hunt_160

Does something needs to be done against this? Maybe people don't like this, but stronger measures against protocols like Tornado Cash and KYC measures for CEX where hackers cash out?

meinkraft

Pretty great using an on-chain platform like this knowing no CEX can scamwick your trade or block your withdrawal.

mybrainiskillingme

So zero times? All I'm saying is it should be about actual results, not anecdotal hype and copium. I've had degen meme plays in SOL go 500x at best, but these seem far more common than banking on alts via CEX buys.

Akirasingh

You answered your question? The supply and demand is controlled by CEX. Especially coin-base at the moment. So institutions buy of base. The moment it becomes P2P and no exchange price will move up. Satoshi btc is locked and has fixed block numbers. That million btc are never getting on an exchange. They will be transferred P2P. Btc is inflationary. Price will increase as supply decreases. Once that million btc is sold their is almost about nothing left to buy.

Delicious_Ease2595

Unfortunately CEX have to follow the elite rules.

gnufoot

What does it matter whether the selling entity is an institution or not? There is a certain amount of supply and a certain amount of demand, and those drive the price. Suddenly, there's a huge influx in supply, therefore the price drops. There is no logical reason for an influx in supply to increase the price. Whether you're looking at a CEX orderbook, or uniswap, whatever method of swapping you use will have the price drop. Even if you put a limit order up near market price, it will only get bought up if people are willing to buy slightly above market price, meaning that if that big sell wasn't there, the price would have been pushed up, but now it stays the same instead. In every scenario, the price will be lower than it would have been without this influx.

SubjectHealthy2409

Learn the difference between CEX and DEX and self custodian wallets and you will know

Abdeliq

The use of exchange is to bring people together from different regions to trade crypto together. We don't have a massive adoption yet so exchange is a very important factor in crypto. Assuming everyone uses crypto, they'll be no need for CEX as you'll be able to trade goods and services with crypto and it'll be for everyday use but as for now, exchange has a very important factor in the crypto space

Simke11

I have seed backups and I could get another hw, but in all honesty I'd rather not do all of that if there is another option. Keeping it on CEX is obviously not it and is why I do self custody, but something like Blackrock's IBIT is in a different ballpark compared to CEXes. At the end of the day I only see BTC as an investment, nothing more nothing less.

Geek18yo

CEX which had its funds get hacked

-TrustyDwarf-

At this point I don't care about CEX delistings any longer. They'll only strengthen Monero by pushing it into P2P, unstoppable DEXs and atomic swaps... crypto as it was meant to be!

Every_Hunt_160

Monero has no CEX and practices abstinence all the time

Haunting-Student-756

Bro chill it’s not that serious. Monero is aCEXUAL. Don’t need no CEX bro. Best currency is best for a reason.

Glass-Cranker

As the post says, I want to convert Bitcoin to fiat currency. I am already proficient in converting fiat to bitcoin. I’m looking for some different ways to go the other way. Maybe I’d do like 100 USD worth just to satisfy myself that it works and I can do it whenever I want. I’d rather not use a CEX if I can help it.

Glass-Cranker

Well, my concern is that it’s not really your Bitcoin when you move it onto the exchange, and then, if they don’t like something they can freeze your assets. I don’t think it’s clouded critical thinking to try and find a safer alternative to a CEX.

ellileon

Anyone here who has some knowledge about crypto airdrops and german tax laws? I'm a little bit confused. I know that i have to tax my airdrops if i sell them immediately. Not if I hold the tokens for 1 year. But what if I swap the tokens for eth and hold that eth for 1 year? Is that still a taxable event than or not? 👀 And the next question for me is, how do the tax authority find out if everything was sold on a DEX and not on an CEX?

AbjectFee5982

CEX is for dummies.

timelesssmidgen

You and the receiver both need to figure out your best CEX Fiat on ramp/off ramp. Research what CEXs are available to you in your country and to the receiver in their country (you and receiver may end up using different CEX's) The CEX itself might have low or no deposit fees, but you'll either have to send money through a 3rd party which will take fees, or through a bank transfer which your bank will charge a fee for. Once you have Fiat money on your CEX you can buy crypto and transfer it to the receivers account. Sending money over Blockchain will always have some 'gas' fee associated with it, but you can minimize this by using the right Blockchain. Don't use BTC or ETH Blockchains. Look into SOL, XLM, ALGO, or OPTIMISM, all of which have negligible gas fees. Then you send it, it's received, they sell the token they received, and then they Fiat off ramp it where they will experience a fee similar to what it took to on ramp. Overall the on and off ramp fees will dominate and probably amount to a few percent of the total amount unless you are sending large amounts and working with banks that do transfers for a flat fee rather than a percentage. But if you don't have that favorable set up, or you're working with small amounts, then these fees could easily stack up to 10+%. One side note, if you and the receiver "get into" crypto, then you may not mind just holding a decent chunk of money online on the Blockchain (because you might ultimately want to use that money to invest in crypto longer term). In that case the on and off ramp steps become unnecessary, and the whole process becomes much more feasible from a value standpoint.

coinfeeds-bot

tldr; Binance leads the centralized exchange market with a weekly trading volume of $60.7 billion out of a total $131.17 billion, maintaining its position as the largest bitcoin exchange globally. Bybit and Crypto.com follow with $20.6 billion and $19.2 billion, respectively. Other notable exchanges include OKX, Upbit, and HTX. The report highlights a CEX to DEX trade volume ratio of 10.58%, indicating centralized exchanges' dominance despite growing interest in decentralized platforms. Binance's leadership underscores its significant role in the crypto market. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

frankvagabond303

I agree with this. The CRO I don't really think was a bait and switch because at the time of the Covid bubble, it was up like everything else and I chose to get a card to use at a certain price. Once the stimulus money ran out and things began to settle, I still have the higher tier card. Prices have dropped, but I still get CRO every week with out doing anything. It all goes in defi where it's just compounding. It doesn't matter to me, it's just there doing its thing. I feel like they saw the correlation between the covid stimulus and the bubble and began reducing the perks in order to stay afloat and keep up with the new regulations that were being required at the time. They are still here and the most compliant CEX in the US, afaik.. I totally cool with it. Also, no on has mentioned a better exchange yet.

hovelylitched

Yes and we wont be able to ramp off since the new crazy laws came into effect How could you lock accounts for over 6 months for suspicious when your detect system is flawed ? [Crazy CEX laws will f ck us up ](https://np.reddit.com/r/ethertrader/comments/1fqj9y9/locked_out_of_my_wallet_why_does_everyone_keep/)

hovelylitched

Same blackrock that lobbied all those new ToS laws that help CEX seize our assets even if we did nothing wrong and we're left with an empty bag for over 6 months and then they say : oops our fault ? [Read the new ToS implemented last week ](https://np.reddit.com/r/ethertrader/comments/1fqj9y9/locked_out_of_my_wallet_why_does_everyone_keep/)

frankvagabond303

I use cdc currently and for the past 5 years. I've never had a problem. It used to have way better perks when I originally joined. It's easy to stay because I'm here and it does everything I want/need. Aside from the spread, I have no real complaints. I wish the US had access to the exchange instead of just the app though. With that said, what other exchange has better fees, spread, and I can put my crypto from my wallet to a card within minutes and use it? I don't keep a lot of value in cdc. I get my weekly CRO from my card stake that I put into defi and then it's just been accumulating. I do buy and then transfer to my wallet once the fee is at a better percentage. When I want to sell my crypto I just transfer from my wallet, sell it, and put the fiat straight to the card. Whole process takes maybe 2 min. Is there any other CEX that would legit be better? I used CB for a while, something happened and I stopped using them. They didn't have a card at the time, I think? I had CB and CBPro. I used CBPro more often. They changed something, I don't really remember. But, i stopped using them. Then I did KYC for Kraken and still haven't actually used it at all. I had done KYC for Robinhood years ago, but as soon as I saw you couldn't withdraw to your own wallet I never even used them. That was before they had that big stock scandal.

fairysquirt

CEX use api market maker AND arb bots omg cex are FAKE, run from Binance it has the ability to use bots and vast majority of the trading activity is bots. Oh nooo! Its all a lie.

Extra-Dentist-3878

Yeah maybe better stick to CEX if you're not aware of basic internet security. This could have happened with a malicious e-commerce website stealing your credit card data tho ...

Every_Hunt_160

CEX will always win with trading fees … and trading against their customers on leverage !

dunnkw

Cold storage is like a safe you have at home for your valuables. It’s a physical device that holds your private keys which give you access to your crypto on the blockchain. You don’t need one of these if you’re holding a few hundred dollars worth of crypto (or as much money as you would like walk around with in your pocket. You need one of these if you’re holding an amount of crypto that would ruin you financially if you lost it. The main reason to hold things in cold storage is that we are still in a vastly unregulated ecosystem for this asset class. Call it the Wild West if you will. So for that reason, we don’t know if any CEX (centralized exchange) will fail and lose our crypto deposits with it. FTX being a prime example. FDIC insures our bank deposits but our deposits on places like Coinbase and Binance are protected by two things, Jack and shit. So it’s best to hold crypto in cold storage if you’ve got an amount that would break you. If you’re just gambling with some fun money the way you would in a casino, you don’t need a cold storage.

Every_Hunt_160

It's a cold wallet (e.g Trezor/Ledger) If you are new, CEX (Coinbase/Binance) is your first port of call. Then create a hot wallet (Metamask) before buying a cold wallet once you have accumulated sufficient crypto.

thinkingperson

And when you try to cash out your bitcoin via a CEX, your account get frozen because your btc is dirty.

devCheckingIn

>There are likely some native CEX tokens that are going to go through SHIB-like 2021 returns. Ahem.... for example...? 😁

Zarod89

Watch him create another CEX

JeromePowellLovesMe

When spot Bitcoin ETFs weren't moving on-chain spot, I figured that options were not going to do anything since APs could control everything with impunity. Now that BlackRock has told CB to transact the net on-chain within 12 hours, I think this is the rocket fuel for not only Bitcoin but alt coins as well. There are likely some native CEX tokens that are going to go through SHIB-like 2021 returns. Enjoy the weekend!

namieorange

Nacho The Cat, Kaspy the 3 leg Cat, Kasper the Ghost and Konan the Dog. New meme coins in Kaspa ecosysyem, already like 30x but not in CEX yet

overseasDip200

Guys, please, advise, where to swap a token to USDt? My CEX doesn't support this token, so I wanna do it instantly and then send USDt to a CEX

FurryassTheCat

I use Koinly for tax reporting. They provide a thorough report of all transactions for a given wallet address(es). I haven’t left coins on an exchange in close to three years, so I don’t remember if it will work with a CEX. They charge, but unless you have hundreds of transactions, the free version might work for you. Cointracker is another option (IIRC, they’re connected to Coinbase).

ShitCuntMcAssfucker

Set and forget for me is after the suicide hotline is posted and a month passes. I sink into old faithful bitcoin. Wait 3-4 years on that recovery. See whatever hype/noble/garbage is gaining traction, split up a chunk of bitcoin into research and gambles… and then wait until CEX buys a sports stadium, or grandma shills crypto on the front page… Then take all profits, no more altcoins, Cold storage only. Rinse, repeat. Stretch a year here or there. Dump the dying alts as they underperform or risk vulnerability in the project. Sink it back into bitcoin. It’s fun to do the research, It’s rewarding to gamble with the illusion of control over winners and losers… and if you are good with excel… taxes aren’t that bad, lol.

NihilistHUGZ

Well you really didnt like the answer did you! You still interact with the CEX and there is bread crumbs to your identity. All I have to do is do an extensive technical analysis of the asset and see signs of shorting. Even though you dont own the asset you still have your information out there when you setup those accounts. I may not see your address for those, but I can still identify shorting and can report the entire clustered segment. Whether you get in trouble or it influences regulations to address the issue is why I turn the data over to usually the SEC, OCC, FDIC, or a few others. They love my reports

Smiling_Jack_

Bro thinks CEXs on are the blockchain. Pro tip: those order books don't actually involve moving crypto around. And depending on the tools used to short it, the underlying asset may never be involved in the first place. I don't even need to ever touch or own SHIB on the blockchain to short it. And even 'owning' it on a CEX does not involve the blockchain, either.

DBRiMatt

Every bull run we also gain many new crypto investors. Most people are using a CEX in their early days.

roguebannana

If you are looking for CEX recommendations just go with the obvious ones like Bybit, Coinbase or Binance. If you are looking for an app (which seems more suitable for your situation) just get Base8 on IOS or Android.

oopssomething

I received 8% APY on it on a CEX, so you could just check out one of them you trust and earn there?

WR3CKONER

No such a thing as safe investment in crypto, but safest have been mentioned above. BTC/ETH. This is a casino, and any alt or meme coin can sky rocket or plummet fast as fuck at any time for no reason, or for a reason. Do lots of research and remember not your keys not your coins. Meaning if you keep your coins on a CEX they are just an IOU from that exchange. Buy low sell high, don’t be a pig. Take gains when you can, and don’t get stuck bag holding or get sucked into bullshit influencers or so called crypto gurus. Sure there’s some predictions on each cycle, but it’s mainly doing research and dumb luck. My main investment right now is in ICP which I think is going to be big within the next decade, take a look at it. So yeah no such thing as safe, but there’s educated guesses that can work out. Be careful and remember you are your own bank! Only invest what you are willing to lose. Good luck!