Bitcoin Forum

Hey guys!
I have a doubt, I've been using okx to invest in altcoin futures, but I'm going to give up on futures and just dedicate myself to the long term of bitcoin and maybe eth (if you have some more tips for me to know, I'd appreciate it) but that's not it the topic, I wanted to know if you think "okx" is safe for this purpose, or "Crypto" https://crypto.com/us/app (the advantage of this from what I understand is being able to pay directly with crypto, which would be useful instead of having to withdraw to the bank account) or "binance".... I don't know, if anyone can help me I would really appreciate it!

OKX is a centralized exchange. Your funds are not safe with them. If you wish to hodl some Bitcoin do that with an open source wallet and I recommend you make use of electrum. You can make you wallet a cold one by setting it up on an air gapped device.
If you don't have a device  you can use for an  air gapped wallet you can purchase a hard ware wallet.
The reason you you should not make use of an exchange to store your coins is because they control the coins not you.

Don't forget to keep your keys safe 😁

None of those centralized exchanges are safe to hold your Bitcoin or ETH. But, if you are a day trader who trades every day, you may use those platforms. But, Binance is more popular than OKX. But when it comes to safety and security, all of those centralized exchanges are the same. It's never advised to use that website to hold large amounts of money.

You may keep a hundred dollars or two hundred dollars just for trading purposes. Actually, it depends on how much you can afford to lose. If $200 is a big amount of money for you, do not keep it on those exchanges. But, if $500 is nothing for you, you may keep it there.

Futures aren't for newbies, you're throwing away your money if you don't know how to navigate that risky way of trading, good thing that you've come to your senses and you're able to go for the long-term. That's probably the worst thing that you've done, futures trading is already difficult when it's with bitcoin and you're doing it with altcoins? You've got some balls bro!

Don't use exchanges for long-term bitcoin storage because you're going to be regretting it when they get attacked by hackers and your funds get stolen, it's not recommended that you store your bitcoins on an exchange even if it's a decentralized one, you're better off using Electrum wallet or any cold wallets to store your bitcoin for the long-term.

Centralized exchanges are not the way to hold your BTC and other coins. If your amount is not very big - use a non-custodial wallet. When it becomes bigger - get yourself a cold wallet.

First of all,  every crypto currency exchange platform being it OKX,  Binance,  even if it heaven it should be treated like exchange not storage.
Second,  future trading is highly risky even if you're doing the trading on Bitcoin and the safe side is still the long term holding. According to your knowledge I will advise you to do for long term holding and if you want to diversify your holding make sure you have concrete portfolio management knowledge.  In addition to, make BTC your investment priority.

I don't think I'm going to save a lot of money...just some for a few months/years...do you think the Revolut wallet is ok? Or should I use metamask? (or another wallet?)
My problem with wallets is that I don't understand how they work because of the different networks... for example in metamask I have coins in optimism but I have eth in another network to be able to pay the fees... I don't really understand that

Some exchanges are more "secure" than others, but no exchange is totally safe. For long-term holdings, you're better off using a hardware wallet. I personally wouldn't ever be able to sleep if my portfolio was on a centralized exchange.

Read

• https://chainsec.io/wallets
• https://chainsec.io/exchange-hacks

No offense mate but you shouldn't be investing outside of Bitcoin if you don't even understand the concept of how those networks work.

I am not so familiar with OKX Exchange, but from what I have heard from others who use it, it seems they have good service. I do my futures trading on Digifinex, but if I want to cash out to my bank account, I usually use Binance Exchange. The Binance Exchange does have futures trading, but I don't quite like it compared to the other exchange I mentioned. If I get you right, you said you want to give up on future trading and be dedicated to investing and holding alone, so you don't need to store your coins on those CEX if you want to start holding. Take the advice of mk4 and get a hardware wallet that is the best for storing your crypto asset for a long holding period. If you cannot afford a hardware wallet, then you can use the best software wallets, which are the Electrum or Exodus wallets. If you are using a software wallet, make sure to generate your address on an air gap device, then extract your private keys.