With FTX burning to the ground and filling for bankrupcy. I was wondering if there still were any good reason to have money on exchanges? Also, why do people have money on exchanges in the first place? Like whats the purpose? The yield? The "safety"? Or do you have it in defi? Or on other decentralized platforms? Is Binance as risky as FTX or are they better at managing risk? Also, what are the golden stardard of exchanges? Do we need an exchange who takes a little transfer fee, but also doesn't loan out your money, basically acts like a closed bank vault just holding your money with no interest. Wouldn't that be safer? I don't care for profit, I care for the company makes enough to stay operational. Last question. Is hive the best place to store your money? (Most of us might be biased, though)
| author | cwow2 | ||||||
|---|---|---|---|---|---|---|---|
| permlink | exchange-questions | ||||||
| category | hive-177682 | ||||||
| json_metadata | {"tags":["hive-177682","neoxian","archon","pob","vyb"],"app":"ecency/3.0.34-mobile","format":"markdown+html"} | ||||||
| created | 2022-11-18 10:05:21 | ||||||
| last_update | 2022-11-18 10:05:21 | ||||||
| depth | 0 | ||||||
| children | 6 | ||||||
| last_payout | 2022-11-25 10:05:21 | ||||||
| cashout_time | 1969-12-31 23:59:59 | ||||||
| total_payout_value | 0.000 HBD | ||||||
| curator_payout_value | 1.413 HBD | ||||||
| pending_payout_value | 0.000 HBD | ||||||
| promoted | 0.000 HBD | ||||||
| body_length | 816 | ||||||
| author_reputation | 209,501,855,114,597 | ||||||
| root_title | "Exchange questions?" | ||||||
| beneficiaries |
| ||||||
| max_accepted_payout | 1,000,000.000 HBD | ||||||
| percent_hbd | 10,000 | ||||||
| post_id | 118,426,575 | ||||||
| net_rshares | 6,143,389,873,260 | ||||||
| author_curate_reward | "" |
| voter | weight | wgt% | rshares | pct | time |
|---|---|---|---|---|---|
| hitmeasap | 0 | 1,166,738,961 | 50% | ||
| steemcleaners | 0 | 1,612,495,373,988 | 55% | ||
| rishi556 | 0 | 1,239,614,405 | 2.66% | ||
| simonjay | 0 | 314,595,252,578 | 100% | ||
| whatamidoing | 0 | 13,152,861,361 | 4.5% | ||
| cryptoknight12 | 0 | 684,832,664 | 2.66% | ||
| alphacore | 0 | 577,737,194 | 0.53% | ||
| joeyarnoldvn | 0 | 491,138,354 | 1.47% | ||
| sonu | 0 | 5,048,589,183 | 100% | ||
| bluemoon | 0 | 269,731,645,936 | 70.1% | ||
| jlsplatts | 0 | 119,825,253,025 | 11.25% | ||
| dandays | 0 | 106,320,527,878 | 12.5% | ||
| sneakyninja | 0 | 826,551,008 | 1.33% | ||
| straykat | 0 | 1,993,864,482 | 7.5% | ||
| roger.remix | 0 | 782,558,174 | 50% | ||
| jazzhero | 0 | 5,200,256,744 | 7.5% | ||
| cadawg | 0 | 6,360,541,074 | 2.39% | ||
| mastergerund | 0 | 593,659,782 | 2.66% | ||
| movement19 | 0 | 615,481,947 | 2% | ||
| onepercentbetter | 0 | 68,091,024,136 | 50% | ||
| adamada | 0 | 55,942,007,402 | 10% | ||
| foxon | 0 | 32,431,366,509 | 2.66% | ||
| solominer | 0 | 661,615,171,565 | 8% | ||
| slobberchops | 0 | 218,018,520,969 | 5% | ||
| enforcer48 | 0 | 213,790,480,589 | 20% | ||
| sbi5 | 0 | 262,081,404,220 | 24.76% | ||
| inspiracion | 0 | 501,519,790 | 100% | ||
| thedailysneak | 0 | 1,131,019,742 | 1.33% | ||
| bestofph | 0 | 1,284,554,421 | 10% | ||
| foodfightfriday | 0 | 12,187,316,455 | 12.5% | ||
| starstrings01 | 0 | 275,179,699,882 | 50% | ||
| naty16 | 0 | 1,744,483,838 | 5% | ||
| kuku-splatts | 0 | 13,249,424,793 | 25% | ||
| harpreetjanda | 0 | 616,860,926 | 2% | ||
| inpursuit | 0 | 988,456,422 | 9.86% | ||
| pursuant | 0 | 974,761,669 | 9.73% | ||
| giftgiver | 0 | 8,963,118,165 | 2.66% | ||
| solairitas | 0 | 196,454,260,492 | 50% | ||
| sbi-tokens | 0 | 1,583,236,061 | 2.66% | ||
| imagenius.too | 0 | 689,533,828 | 50% | ||
| idig | 0 | 2,592,566,306 | 6.25% | ||
| neoxian.alfa | 0 | 3,214,107,077 | 100% | ||
| urtrailer | 0 | 206,078,419,642 | 25% | ||
| splatts | 0 | 58,084,927,097 | 12.5% | ||
| solairibot | 0 | 36,256,356,297 | 50% | ||
| hextech | 0 | 7,198,892,838 | 2.66% | ||
| catinthewindow | 0 | 1,077,030,347 | 12.5% | ||
| daniky | 0 | 19,482,192,850 | 50% | ||
| notak | 0 | 863,193,179,173 | 100% | ||
| ksam | 0 | 6,018,868,465 | 20% | ||
| w-splatts | 0 | 13,681,771,967 | 25% | ||
| mafia.wallet | 0 | 788,851,368 | 2.66% | ||
| nftmart | 0 | 3,817,542,586 | 2.66% | ||
| recoveryinc | 0 | 2,597,569,616 | 4% | ||
| tripode | 0 | 135,811,617,343 | 50% | ||
| borniet | 0 | 7,957,361,334 | 50% | ||
| crossculture | 0 | 76,540,711,932 | 15% | ||
| betterdev | 0 | 30,246,473,002 | 2.66% | ||
| blogging-team | 0 | 2,880,332,252 | 100% | ||
| blukei | 0 | 11,418,959,037 | 100% | ||
| olddessauer | 0 | 36,030,381 | 100% | ||
| samrisso | 0 | 2,798,646,541 | 4% | ||
| h-e | 0 | 0 | 2.66% | ||
| thecouncil | 0 | 1,046,302,466 | 2.66% | ||
| maylenasland | 0 | 2,544,165,722 | 25% | ||
| tomtothetom | 0 | 1,202,385,932 | 8% | ||
| mayorkeys | 0 | 4,940,746,844 | 30% | ||
| horstman5 | 0 | 1,103,115,427 | 25% | ||
| heskay | 0 | 18,020,583,843 | 50% | ||
| doriangel | 0 | 5,198,054,108 | 50% | ||
| trezzahn | 0 | 21,068,346,104 | 100% | ||
| notak1 | 0 | 8,835,928,906 | 100% | ||
| lafuriosatripode | 0 | 1,846,641,268 | 100% | ||
| cugel | 0 | 1,868,428,472 | 4% | ||
| acantoni | 0 | 630,987,534 | 4% | ||
| dafusa | 0 | 857,370,410 | 50% | ||
| rishi556.engine | 0 | 0 | 2.66% | ||
| bagpack | 0 | 1,062,077,655 | 100% | ||
| anonymous02 | 0 | 932,963,582 | 10% | ||
| monioluwa | 0 | 1,221,477,791 | 25% | ||
| realitavshaluan | 0 | 4,826,378,080 | 100% | ||
| shopnilhasan | 0 | 1,278,109,018 | 50% | ||
| gone-hive | 0 | 454,861,885 | 12.5% | ||
| olujay | 0 | 13,553,688,808 | 50% | ||
| lordneroo.pob | 0 | 485,090,531 | 100% | ||
| lordneroo.vyb | 0 | 485,090,390 | 100% | ||
| imacryptogeek | 0 | 58,301,382,221 | 100% | ||
| cindy911 | 0 | 10,632,588,200 | 15% |
I have some stables on exchanges. It's mostly to make sure I can withdraw my crypto purchases right after I get them. Exchanges usually won't let you withdraw freshly purchased assets for a few days if you do ACH. So, having a balance actually helps you move crypto off right away.
| author | enforcer48 |
|---|---|
| permlink | re-cwow2-rljqi3 |
| category | hive-177682 |
| json_metadata | {"tags":["hive-177682"],"app":"peakd/2022.11.1"} |
| created | 2022-11-18 13:51:39 |
| last_update | 2022-11-18 13:51:39 |
| depth | 1 |
| children | 1 |
| last_payout | 2022-11-25 13:51:39 |
| cashout_time | 1969-12-31 23:59:59 |
| total_payout_value | 0.000 HBD |
| curator_payout_value | 0.000 HBD |
| pending_payout_value | 0.000 HBD |
| promoted | 0.000 HBD |
| body_length | 282 |
| author_reputation | 426,238,777,098,689 |
| root_title | "Exchange questions?" |
| beneficiaries | [] |
| max_accepted_payout | 1,000,000.000 HBD |
| percent_hbd | 10,000 |
| post_id | 118,430,677 |
| net_rshares | 36,931,628,626 |
| author_curate_reward | "" |
| voter | weight | wgt% | rshares | pct | time |
|---|---|---|---|---|---|
| stimialiti | 0 | -19,366,661,853 | -81% | ||
| dustbunny | 0 | 35,647,817,807 | 10.83% | ||
| trezzahn | 0 | 20,650,472,672 | 100% |
Ohh really?? I honestly didn't know this. Last time I withdrew some hive to Binance and into Stakeking it happend within an hour xD
| author | cwow2 |
|---|---|
| permlink | re-enforcer48-20221118t182136690z |
| category | hive-177682 |
| json_metadata | {"tags":["hive-177682"],"app":"ecency/3.0.34-mobile","format":"markdown+html"} |
| created | 2022-11-18 17:21:36 |
| last_update | 2022-11-18 17:21:36 |
| depth | 2 |
| children | 0 |
| last_payout | 2022-11-25 17:21:36 |
| cashout_time | 1969-12-31 23:59:59 |
| total_payout_value | 0.038 HBD |
| curator_payout_value | 0.038 HBD |
| pending_payout_value | 0.000 HBD |
| promoted | 0.000 HBD |
| body_length | 133 |
| author_reputation | 209,501,855,114,597 |
| root_title | "Exchange questions?" |
| beneficiaries | [] |
| max_accepted_payout | 1,000,000.000 HBD |
| percent_hbd | 10,000 |
| post_id | 118,435,277 |
| net_rshares | 164,976,589,910 |
| author_curate_reward | "" |
| voter | weight | wgt% | rshares | pct | time |
|---|---|---|---|---|---|
| enforcer48 | 0 | 164,942,364,136 | 15% | ||
| olddessauer | 0 | 34,225,774 | 100% |
Ah, these are lot of interesting questions. I think the main role of exchanges is to trade or exchange one currency to another. However, they go beyond that and offer other services and people seem to be comfortable with that. In my opinion, no substantial amount of funds should be left on exchanges even if you're earning yield from it.
| author | young-kedar |
|---|---|
| permlink | re-cwow2-20221118t12251477z |
| category | hive-177682 |
| json_metadata | {"tags":["hive-177682","neoxian","archon","pob","vyb"],"app":"ecency/3.0.28-vision","format":"markdown+html"} |
| created | 2022-11-18 12:25:00 |
| last_update | 2022-11-18 12:25:00 |
| depth | 1 |
| children | 3 |
| last_payout | 2022-11-25 12:25:00 |
| cashout_time | 1969-12-31 23:59:59 |
| total_payout_value | 0.022 HBD |
| curator_payout_value | 0.022 HBD |
| pending_payout_value | 0.000 HBD |
| promoted | 0.000 HBD |
| body_length | 339 |
| author_reputation | 24,206,448,435,923 |
| root_title | "Exchange questions?" |
| beneficiaries | [] |
| max_accepted_payout | 1,000,000.000 HBD |
| percent_hbd | 10,000 |
| post_id | 118,428,837 |
| net_rshares | 98,927,322,537 |
| author_curate_reward | "" |
| voter | weight | wgt% | rshares | pct | time |
|---|---|---|---|---|---|
| cwow2 | 0 | 78,690,859,318 | 25% | ||
| trezzahn | 0 | 20,236,463,219 | 100% |
Couldn't people not just use decentralized swaps service for that? Like Unicorn or something?
| author | cwow2 |
|---|---|
| permlink | re-young-kedar-rljmro |
| category | hive-177682 |
| json_metadata | {"tags":["hive-177682"],"app":"peakd/2022.11.1"} |
| created | 2022-11-18 12:31:00 |
| last_update | 2022-11-18 12:31:00 |
| depth | 2 |
| children | 2 |
| last_payout | 2022-11-25 12:31:00 |
| cashout_time | 1969-12-31 23:59:59 |
| total_payout_value | 0.000 HBD |
| curator_payout_value | 0.000 HBD |
| pending_payout_value | 0.000 HBD |
| promoted | 0.000 HBD |
| body_length | 93 |
| author_reputation | 209,501,855,114,597 |
| root_title | "Exchange questions?" |
| beneficiaries | [] |
| max_accepted_payout | 1,000,000.000 HBD |
| percent_hbd | 10,000 |
| post_id | 118,428,964 |
| net_rshares | 0 |
They can utilize those services. It's either they are not aware or it's a bit technical for them.
| author | young-kedar |
|---|---|
| permlink | re-cwow2-20221118t123340182z |
| category | hive-177682 |
| json_metadata | {"tags":["hive-177682"],"app":"ecency/3.0.28-vision","format":"markdown+html"} |
| created | 2022-11-18 12:33:39 |
| last_update | 2022-11-18 12:33:39 |
| depth | 3 |
| children | 1 |
| last_payout | 2022-11-25 12:33:39 |
| cashout_time | 1969-12-31 23:59:59 |
| total_payout_value | 0.000 HBD |
| curator_payout_value | 0.000 HBD |
| pending_payout_value | 0.000 HBD |
| promoted | 0.000 HBD |
| body_length | 98 |
| author_reputation | 24,206,448,435,923 |
| root_title | "Exchange questions?" |
| beneficiaries | [] |
| max_accepted_payout | 1,000,000.000 HBD |
| percent_hbd | 10,000 |
| post_id | 118,429,010 |
| net_rshares | 19,831,550,953 |
| author_curate_reward | "" |
| voter | weight | wgt% | rshares | pct | time |
|---|---|---|---|---|---|
| trezzahn | 0 | 19,831,550,953 | 100% |
hiveblocks