10-18-2022, 04:08 PM
Always use protection before CEX. Things you should do to navigate centralized excha
<!-- SC_OFF --><div class="md"><p>Here’s a couple of things cryptocurrency users should do when dealing with centralized exchanges. List more tips in the comments if you got ‘em.</p> <ul> <li><p>Confirm you are on the actual exchange URL/ app </p></li> <li><p>Use 2FA authentication for important operations (Logging in, withdrawing, changing profile settings etc.) & avoid using SMS as a 2FA option </p></li> <li><p>Add whitelisted addresses for withdrawals</p></li> <li><p>Export your transaction history, and maintain your portfolio transactions for trading insights, taxes </p></li> <li><p>Confirm which network you are making withdrawals for. As well, confirm your exchange accepts the network you are <em>sending</em> through </p></li> <li><p>Withdraw any and all amounts you are not happy to risk at the exchange, such as leaving it there for trading purposes</p></li> <li><p>Review deposit/withdrawal and trading limits before you go on/offboarding</p></li> <li><p>Take into account of fees for depositing/withdrawing in certain methods and plan accordingly</p></li> <li><p>Understand the risks and opportunity costs of staking/lending at your given CEX</p></li> <li><p>Confirm your receive addresses, confirm your send addresses.</p></li> <li><p>Confirm which crypto’s ticker you are actually buying/selling</p></li> <li><p>Learn everything you can about margin/leverage/futures/short selling before you even consider actually doing it.</p></li> </ul> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/genjitenji"> /u/genjitenji </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/y6zu9g/always_use_protection_before_cex_things_you/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/y6zu9g/always_use_protection_before_cex_things_you/">[comments]</a></span>
<!-- SC_OFF --><div class="md"><p>Here’s a couple of things cryptocurrency users should do when dealing with centralized exchanges. List more tips in the comments if you got ‘em.</p> <ul> <li><p>Confirm you are on the actual exchange URL/ app </p></li> <li><p>Use 2FA authentication for important operations (Logging in, withdrawing, changing profile settings etc.) & avoid using SMS as a 2FA option </p></li> <li><p>Add whitelisted addresses for withdrawals</p></li> <li><p>Export your transaction history, and maintain your portfolio transactions for trading insights, taxes </p></li> <li><p>Confirm which network you are making withdrawals for. As well, confirm your exchange accepts the network you are <em>sending</em> through </p></li> <li><p>Withdraw any and all amounts you are not happy to risk at the exchange, such as leaving it there for trading purposes</p></li> <li><p>Review deposit/withdrawal and trading limits before you go on/offboarding</p></li> <li><p>Take into account of fees for depositing/withdrawing in certain methods and plan accordingly</p></li> <li><p>Understand the risks and opportunity costs of staking/lending at your given CEX</p></li> <li><p>Confirm your receive addresses, confirm your send addresses.</p></li> <li><p>Confirm which crypto’s ticker you are actually buying/selling</p></li> <li><p>Learn everything you can about margin/leverage/futures/short selling before you even consider actually doing it.</p></li> </ul> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/genjitenji"> /u/genjitenji </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/y6zu9g/always_use_protection_before_cex_things_you/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/y6zu9g/always_use_protection_before_cex_things_you/">[comments]</a></span>