Just use a hard wallet, and easily keep your crypto without having to trust anyone but yourself, that is the essence of decentralized finance.
Deposit method
- Thread starter CallahanSinclair
- Start date
- Watchers 30
First of all you have shifted from the top but if you want to go down that path then let's go down that path.
Yeah? Not bad ey? What are you going to do when you want to use that damn money in the hard wallet? You gotta use a damn exchange. You have to trust your money with someone for internet transfer? Exchanges have a very very bad reputation in being broken into and getting hacked. That aside, if you make one wrong move for your transaction and you send into somewhere you didn't mean to, then you have to say bye bye to your money! There is nothing that you can say that would make cryptos better than banks.
The networks are decentralized yeah but the exchanges are not. Crypto is only part decentralized, its traceable and it can be manipulated.
I agree. While blockchain networks themselves are decentralized, many cryptocurrency exchanges are centralized, making them vulnerable to manipulation and regulatory influence. Moreover, transactions on these networks are traceable through public ledgers, and market manipulation can occur due to the influence of large holders, known as whales. Therefore, cryptocurrency is only partially decentralized in its current state.
Too bad you're banned to see the answer but as you can see from our fellow trader here.
This is exactly how it can be traced. It's just like using a VPN and thinking you cannot be tracked anymore. Well, guess what! Yes, you can be.
My preferred deposit method for forex trading is typically a bank transfer due to its security and reliability, though it may take longer to process compared to other methods. Credit or debit cards are also convenient, offering faster processing times, but they might come with higher fees.
I have yet to see a more pessimistic and insecure person than you, just withdraw it into a hard wallet and keep it there simple.
I've found crypto deposits to be incredibly fast and convenient, especially for international transactions. The lower fees and the added privacy are significant advantages. However, I did encounter an issue once where my transaction got stuck due to network congestion. It eventually went through, but it was quite stressful. Does anyone else have tips on avoiding such delays?
While crypto deposits are great, I still prefer using traditional bank transfers for larger amounts due to their stability and the fact that I can easily track them through my bank. Plus, my broker offers a slightly better exchange rate for fiat deposits. It's slower, but I've never had any issues with it.
Hardly! I find my statements quite realistic and reasonable. If you want to be blind as a bat following something that you have no clue about, then sure thing. Nobody is going to stop you.
I'm not going to argue with you when you cannot even understand my argument here so, let's just leave it at that.
Can you please elaborate on why do you think it adds privacy? Please explain this to me.
Also, if you want o avoid the delays that your transaction might face you need to keep a couple of things in mind:
Firstly, avoid doing transactions while the network has a very high workload.
Second, avoid doing transactions while the BTC price is drastically volatile.
Lastly, if during the mentioned times, you need to do an urgent transaction and you cannot wait, simply use stable coins like USDT trc20 or USDT erc20. I'd recommend trc20 because it's much more faster and incurs lesser fees.
True. Using TRC20 for urgent transactions is smart. it's faster and has lower fees.
Actually the average TRC20 transfer fee has recently been the largest of all USDT:
https://www.cropty.io/wallets/usdt-wallet/fees
I don't personally use cryptos overall due to exchange rate fees and taxations, but I try to be up to date about by asking around so thanks for the info! Quite interesting.
Post automatically merged:
Admin just proved us otherwise. Haha!
It is not anonymous.
You need to use an exchange that will require KYC.
So your identity will be attached to that transaction that you are sending. If it was what was the purpose of creating Monero or Zcash. Why people started using Tumblers? That is if you know what these are.
it depends on each broker's policy, but crypto deposit is a way to circumvent regulation, such as US traders using offshore CFD leveraged brokers
I don't know where you live mate but that is considered money-laundering if you are only exchanging currency with a certain person and that lad is doing all the transactions. You can get sentenced for avoiding taxation that way.
Similar threads
