Re:Binance sees $2B in outflows as troubles compound
by notch898a on Wednesday March 29, 2023 @01:40AM
(#35353091)
Not to distract, as these are all valid concerns, but why on earth is anyone leaving anything on an exchange for longer than it takes for the deposit, transaction, and withdrawal to clear.
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Re:Binance sees $2B in outflows as troubles compound
by kragen on Wednesday March 29, 2023 @01:51AM
(#35353151)
possibly so they can engage in other transactions with other users of the same platform without waiting for half an hour
(lightning or ethereum would also solve this problem, but binance has more users despite being a company instead of a protocol)
Re:Binance sees $2B in outflows as troubles compound
by JenrHywy on Wednesday March 29, 2023 @02:14AM
(#35353299)
To save on transaction fees perhaps, or to because they don't want to run the risk of looking after their own keys.
Re:Binance sees $2B in outflows as troubles compound
by jacquesm on Wednesday March 29, 2023 @02:56AM
(#35353598)
Because they might have to pay taxes on it.
Re:Binance sees $2B in outflows as troubles compound
by jackstraw14 on Wednesday March 29, 2023 @03:32AM
(#35353831)
> why on earth is anyone leaving anything on an exchange for longer than it takes for the deposit, transaction, and withdrawal to clear.
I've never advised my dad to take his crypto off of Coinbase, and he's been keeping it there safely for about six years at this point. It's the best place for him to keep it, for better or worse. I'm not there to transfer everything to a ledger as he trades, and I also don't really want to take responsibility for all of his funds anyway. If he started trading on Binance US (not gonna happen) then I would probably just tell him to send it to Coinbase. I don't keep my crypto on exchanges, but for a lot of people, it really is better than the alternatives.