Ayers
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Vave.com - Crypto Casino
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October 28, 2023, 07:59:05 AM |
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Why are you looking for exchanges, buddy? It seems you got some air-droppedd merits, which means you are here for awhile, but didn't you read any threads where authors warned readers that you should not keep your money on online accounts? Theymos has wrote a thread with this title. Yet you are searching for an exchange to invest.
If you don't trade peer to peer, in person face to face, you will need an exchange to buy and sell Bitcoin. Nothing wrong if you need an exchange for your buying and selling. The wrong is if you need an exchange to store your bitcoin there, long or longer than you need. Because storing bitcoin on exchanges means you can lose your coins anytime. If you afford to lose your bitcoin anytime, go next with exchange account as your bitcoin wallet. I don't recommend it and many expert neither advise to do it like here, there. Frankly speaking, exchanges are also a part of the cryptocurrency industry and even an indispensable part. I believe that all cryptocurrency investors will at least use 1 or 2 centralized exchanges, only a rare few will use no centralized exchanges at all. We should not deny the role of centralized exchanges and their contributions to the cryptocurrency industry. You're right, using a centralized exchange is not as bad as many people are saying. And if we use them for the purpose for which they were created such as exchanging, buying, selling, converting...then there is nothing wrong here. But if we use them for long-term storage then it is really a wrong decision.
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Ruttoshi
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Baba God Noni
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October 28, 2023, 09:23:40 AM |
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I don't understand if OP wasn't in this forum and how come he doesn't know that it is gambling when you leave your coins in an exchange, or is it greed of making profit that has taken over him that made him to ask this question. Bitcoin is best kept in a noncustodial wallet and you have to invest in a long term for you to benefit from your investment.
If you are the type of investor that think bitcoin is a get rich quick scheme, you are getting it wrong because bitcoin investment needs patience and discipline to reap from it. Exchanges will such offers have plans to scam you of your bitcoin.
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angrybirdy
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October 28, 2023, 09:35:55 AM |
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What are some good exchanges allowing fixed monthly investment in BItcoin? I need options where my funds will be secure.
Most of the exchange offer almost same low rate on Bitcoin. It’s not really worth it leaving your coins on exchange in exchange for a mere profit which you can easily have by just holding your Bitcoin safely on your non-custodial wallet. Some crypto casino offers much higher interest rate if you invest on their bankroll compared to exchange offers if you really decided to be exposed on risk. You're right, Exchanges offers low rate, also your coins might not really be there. What you see is a promise that if you ask for your bitcoin, they will give it to you. But if the exchange gets hacked or if the CEO fakes his identity and takes the private keys or if the government steps in, all coins could go into their pockets. It's better not to leave your coins in exchange, to eliminate the risk, withdraw your coins now.
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posi
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October 28, 2023, 09:50:10 AM |
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I don't understand if OP wasn't in this forum and how come he doesn't know that it is gambling when you leave your coins in an exchange, or is it greed of making profit that has taken over him that made him to ask this question. Bitcoin is best kept in a noncustodial wallet and you have to invest in a long term for you to benefit from your investment.
If you are the type of investor that think bitcoin is a get rich quick scheme, you are getting it wrong because bitcoin investment needs patience and discipline to reap from it. Exchanges will such offers have plans to scam you of your bitcoin.
Although, I also object to the OP because he is looking to store his bitcoins on centralized platforms, which is quite risky. But I will not agree with you that, all centralized exchanges are planning to scam investors' bitcoins. They do not force you to store your bitcoins on their platform, you come to them voluntarily, so how can you say that they are planning to scam you? Furthermore, not all exchanges are scams or will collapse, there are still some exchanges that are still doing well today. For example, Coinbase is an exchange that has been around since 2012 and have you seen them scam anyone? Don't use the exchange the wrong way and blame them when the choice is yours.
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Agbamoni
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October 28, 2023, 10:23:25 AM |
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OP you should have been aware of this before now. Am surprised you are still searching for an exchange where you will give away your money. If you are really interested in Bitcoin, then you should get a wallet wfor storing them. Any time you want to buy some you buy you deposit your fiat buy your bitcoin and send it back to your wallet. Simple as that. Stop risking your funds and your investments. Centralized exchanges are not advisable for storing Bitcoin you may lose your entire fortune if you ignore what i just said. If you dont know a good wallet then you should try Electrum it is one of the most recongnizable as of now.
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bettercrypto
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October 28, 2023, 10:57:55 AM |
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What are some good exchanges allowing fixed monthly investment in BItcoin? I need options where my funds will be secure.
If you really want to store bitcoin in the exchange and you are forced to, maybe it is better to use DEX (decentralized exchange), because you just connect your wallet address here. It depends on which network you use, because, as far as I know, it is also possible to store bitcoin using a metamask. And this is the transaction link on how to transfer bitcoin to Metamask. Just read and follow the instructions on how to do it, as long as you understand it correctly, so you don't make a mistake. https://cointelegraph.com/news/how-to-store-bitcoin-on-metamaskhttps://www.youtube.com/watch?v=BpufIlp5xY8
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Learn Bitcoin
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October 28, 2023, 02:27:49 PM |
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Frankly speaking, exchanges are also a part of the cryptocurrency industry and even an indispensable part. I believe that all cryptocurrency investors will at least use 1 or 2 centralized exchanges, only a rare few will use no centralized exchanges at all. We should not deny the role of centralized exchanges and their contributions to the cryptocurrency industry. We cannot deny that centralized exchanges also played a vital role in spreading awareness of Bitcoin and other cryptocurrencies. It helped many users to know about Bitcoin. But I assume, you don't really care about privacy concerns. Just imagine you have submitted your personal documents in a centralized exchange and a few years later you notice that your life become a living hell because of that. There is a story where a romanian guy was arrested because they said this did some crimes while he is aware of anything. Then they figured out that his personal information were stolen and the criminals used his info do to the crimes. This is identity theft. Even coinbase sold their users info on the darknet.
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stompix
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October 28, 2023, 02:45:27 PM |
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Should we still choose FTX even after what SBF (CEO) did with it, well, at the first place, choosing a centralized exchange is itself a bad choice in the sight of many but, if OP doesn't care about that, then FTX might not be the best option. Just a thought, what do you have to say?
Again quoting myself: Do I have to add /S ? Can you even deposit on FTX? Have you actually checked as the platform is closed! It was a clear as glass example of what happened to previous platforms that offered high APY, you didn't get the interest and you didn't get your coins back! Anyhow I love how everyone is saying don't keep your money on exchange but I'm a bit suspicious everyone is also doing this, if I were to bet on it I would say at least 33% have at least a few hundred $ worth of coins on some exchange and not in their cold wallet!
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Kakmakr
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October 28, 2023, 03:00:36 PM |
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OP, you should not automate the buying of your bitcoins, because you not going to get the most out of that money... if you have a fixed buying cycle. ![Roll Eyes](https://bitcointalk.org/Smileys/default/rolleyes.gif) What happens if the price goes up to say $100 000 per Bitcoin and you are still buying at that price.... I will much rather save that money.. until there are a drop in the price and then buy more coins at a lower price. ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) You have to buy low and sell high.... that is the secret sauce to maximize you profit. There are too many people simply buying for the sake of buying... and they are missing out on buying more coins with less money. ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
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kryptqnick
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October 28, 2023, 04:07:45 PM |
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I agree with those who point out that it's risky and not worth it. Op, just look at BTC price. Just over the last week, it gained 15%. No centralized platform can offer returns like that. Of course, Bitcoin can also stay down for a long time, but if it's down, say, 10% over a couple of months, a measly 1-2% returns won't matter either. My point is that Bitcoin's volatility is much more impactful than fixed returns can ever be, and you can actually choose when you buy, when to sell, and what to do with your coins because they remain truly yours if you aren't using a centralized platform.
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Faisal2202
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October 28, 2023, 05:42:39 PM |
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Again quoting myself: Do I have to add /S ? Can you even deposit on FTX? Have you actually checked as the platform is closed! It is not functional, and your quoted line is still not understandable by me, sorry but what does it mean -->/S From what I have learned, it means, you are talking in a non-serious mode. Well, hope you won't mind explaining it ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) Anyhow I love how everyone is saying don't keep your money on exchange but I'm a bit suspicious everyone is also doing this, if I were to bet on it I would say at least 33% have at least a few hundred $ worth of coins on some exchange and not in their cold wallet!
You are right, even my 80%+ funds are on centralized exchange, but that's on purpose. I cannot buy Cold wallets in my country as crypto is banned but arrangements can be made but I don't want to take the risk. Waiting for it to be unbanned again and then I might consider buying one.
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stompix
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October 28, 2023, 07:01:42 PM |
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but what does it mean -->/S From what I have learned, it means, you are talking in a non-serious mode.
/s > sarcasm https://linguaholic.com/linguablog/the-meaning-of-slash-s/I forget sometimes this is an international forum, my bad! You are right, even my 80%+ funds are on centralized exchange, but that's on purpose. I cannot buy Cold wallets in my country as crypto is banned but arrangements can be made but I don't want to take the risk. Waiting for it to be unbanned again and then I might consider buying one.
You don't need a hardware cold wallet for that! You either go with the cheap solution of pen and paper or you put a bit more effort into it and follow this https://bitcointalk.org/index.php?topic=5389446.0And to be honest, after the last leak of ledger customer's database with full home addresses I would also not be that thrilled to buy something from an online shop.
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noorman0
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October 28, 2023, 07:45:34 PM |
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OP you should have been aware of this before now. Am surprised you are still searching for an exchange where you will give away your money.
The general reason is not being confident in managing investment money, especially having a poor level of security knowledge. That's the conventional way for investors to hold a portfolio that relies on centralized institutions. -snip- And this is the transaction link on how to transfer bitcoin to Metamask. Just read and follow the instructions on how to do it, as long as you understand it correctly, so you don't make a mistake.
That's worse advice, metamask only supports wrapped bitcoins (fake). It's not much different from storing bitcoins on an exchange.
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Faisal2202
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October 29, 2023, 11:44:28 AM |
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Ok Ok, its mean I got the right meaning of it, I got confused when I read that line for the very first time so I ignore it but when you quoted it again I thought it must meant something so I searched it and found out that it represents non serious mode (sarcasm). Well thanks for mentioning it, new word added to my dictionary (after all I am a logophile ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif) ) I was also going to mention it as we can use paper wallet to but I avoid it, it is so difficult for me to carry or safe a paper wallet, I don't have any someplace in my home where I can keep it away from others hand. And there are other reasons too so I avoid it but a air gapped wallet can do the work instead. And to be honest, after the last leak of ledger customer's database with full home addresses I would also not be that thrilled to buy something from an online shop.
I was not aware from this news, thanks for bringing it in front of me too. I will look into it more.
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Z-tight
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October 29, 2023, 08:24:52 PM |
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You are right, even my 80%+ funds are on centralized exchange, but that's on purpose. I cannot buy Cold wallets in my country as crypto is banned but arrangements can be made but I don't want to take the risk. Waiting for it to be unbanned again and then I might consider buying one.
This is simply calling for trouble, you don't have to buy a hardware wallet in that case, you have the option to use Electrum offline, by creating your own airgapped wallet. I was also going to mention it as we can use paper wallet to but I avoid it, it is so difficult for me to carry or safe a paper wallet, I don't have any someplace in my home where I can keep it away from others hand. And there are other reasons too so I avoid it but a air gapped wallet can do the work instead.
I don't think stompix was talking about a paper wallet, but rather that you use a self custodial wallet like Electrum that gives you your seed phrase, which you have to back up on paper. Not your keys, not your coins, to use BTC you must find a way to back up your seed phrase safely, it should be easy to write 12 words down and hide it somewhere.
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krishnaverma (OP)
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October 30, 2023, 01:43:43 AM |
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Where are you in the world? Not every exchange operates in every country.
NOT YOUR KEYS NOT YOUR COINS
NO MATTER WHICH EXCHNAGE YOU USE
Don't leave your BTC on an exchange, deposit -> trade -> move coins to your own wallet.
-Dave
This thread can be helpful for newbies. There can be live services or upcoming ones which will allow automatic SIP deduction of payment to buy Bitcoin and then transfer it to some safe wallet.
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Ayers
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October 30, 2023, 02:23:12 AM |
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Frankly speaking, exchanges are also a part of the cryptocurrency industry and even an indispensable part. I believe that all cryptocurrency investors will at least use 1 or 2 centralized exchanges, only a rare few will use no centralized exchanges at all. We should not deny the role of centralized exchanges and their contributions to the cryptocurrency industry. We cannot deny that centralized exchanges also played a vital role in spreading awareness of Bitcoin and other cryptocurrencies. It helped many users to know about Bitcoin. But I assume, you don't really care about privacy concerns. Just imagine you have submitted your personal documents in a centralized exchange and a few years later you notice that your life become a living hell because of that. There is a story where a romanian guy was arrested because they said this did some crimes while he is aware of anything. Then they figured out that his personal information were stolen and the criminals used his info do to the crimes. This is identity theft. Even coinbase sold their users info on the darknet. Do you have any bank account? Are you using any centralized government services? And what ensures the bank does not sell your information to third parties? What do you have to ensure your personal information and privacy are not exposed when living in a completely centralized world? If you are concerned about your financial privacy then I agree that you should not use centralized exchanges, because if the government requires exchanges to provide user information for them to tax the same like what the US government is doing with Kraken. And if you think using an exchange exposes your personal information, you first need to make sure that you have never had a bank account, a social insurance card or are completely separate from the world.
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Z-tight
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October 30, 2023, 07:35:27 AM |
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This thread can be helpful for newbies. There can be live services or upcoming ones which will allow automatic SIP deduction of payment to buy Bitcoin and then transfer it to some safe wallet.
I don't know why you need a 'bot' to help you buy BTC automatically and send it to your address when you can easily to that in a matter of minutes. What you are saying here is just dca, but you can do that yourself, buy BTC in a p2p exchange at intervals of your choosing and store them in your self custodial wallet. Take note that this is different from what the op wants to do, they want to lock their money in an exchange to earn APY, which is not a recommended thing to do.
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The Cryptovator
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October 30, 2023, 07:24:32 PM |
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Your question drives me to wonder: really, are you connected to the crypto world or are you in another world? Haven't you seen how centralised crypto exchanges are collapsing? Don't you feel storing cryptocurrency on a central exchange is risky? You may lose everything you invested. Rather, think of earning more important matters to secure your funds. You can simply earn by holding your crypto on a secure, non-custodial wallet; when the price goes up, you can sell.
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krishnaverma (OP)
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October 31, 2023, 12:13:17 AM |
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This thread can be helpful for newbies. There can be live services or upcoming ones which will allow automatic SIP deduction of payment to buy Bitcoin and then transfer it to some safe wallet.
I don't know why you need a 'bot' to help you buy BTC automatically and send it to your address when you can easily to that in a matter of minutes. What you are saying here is just dca, but you can do that yourself, buy BTC in a p2p exchange at intervals of your choosing and store them in your self custodial wallet. Take note that this is different from what the op wants to do, they want to lock their money in an exchange to earn APY, which is not a recommended thing to do. Are you aware of how mutual fund operates? Most popular scheme there is SIP only. There also you can do manually each month but that is not what most people actually do. Ever thought, why?
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