How many exchanges do you guys use?
How many exchanges do you guys use?
I have accounts for around 5 CEXs, and I do manage to use all of them for multiple things or trade different tokens even though it’s not consistent with most of them. I feel most people here use around that amount of CEX for maybe airfrops or trading all sort of alts or maybe for some specific product or event. Like me I use OKX, Binance, Kucoin and now I’m using Bitget even more because they give me rewards for checking in at least once a day lol.
What makes you guys decide which CEX to use and why?
Only one (Kucoin) after my country banned the access for Binance. And having one cex is enough especially if i don’t trade regularly. The reason is having my personal info/ID getting spread all over the crypto platforms lol which more and more platform are getting hacked these days.
Actually, I’m enough to trade to two major exchanges OKX and Binance, but I also sometimes trade on Bitget just for the rewards and Coinex because some coins that I want to trade are supported on this exchange.
There’s no problem with using multiple exchanges that’s the best way to avoid losing all of your capital since it is not good to hold all of your capital in one basket because any of these exchanges down you can trade to other exchanges and only the partial amount is lost.
Just don’t forget to only trade on major exchanges for safety purposes but honestly, there’s no 100% safe the only safest is if you hold your assets in your hardware wallet that you fully control.