Caution keeping your tokens on a CEX
There have been Russian hacks, not in cryptocurrency.. but the point is keep your tokens on a hard wallet (with the hack attacks theres bound to be one in cryptocurrency soon) not your keys not your coins // I like keeping my tokens off on ledger (that way it can't be hacked)
Also utilizing it off a centralized exchange brings benifits to your tokens eco system / yourself.. you'll be able to join liquidating pools to yield farm tokens or stake elsewhere (be edglible for more stuff) like on cosmos if your staking using ledger + keplr theres a bonus secuirty with the ledger + keplr you'll be edglible for future air drops
Posted Feb 25, 2022, 5:27 PM UTC · edited
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If you’re trading semi-frequently, keeping your coins on an exchange may make more sense. DYOR and don’t blindly listen to internet strangers.
Yup, there is a balance you need to set.
If you plan to exchange them frequently keep them where you can do so like an exchange, reduces risk and gas; if you plan to just HoDL or bop them in to stake, you probably want to put them in your own wallet. All in all it depends on what your aiming to do.
not your life savings though
If you’re frequently trading your life savings, then it would reduce fees. It would be stupid to do this, but I’m not going to tell people how to live their lives.
Agree.