safest offshore Exchange

[DerAufklaerer]

On all Offshore Exchanges
like Bitget, BingX, Phemex, Pionex, Mexc

Whaat do you you think is the safest ?

I think Bitfinex because its from 2014 ?

 

[Sols]

Safest in what sense?

Do not keep crypto on exchanges. Only deposit money with an exchange in order to trade, and then immediately withdraw. Any balance held on an exchange should be thought of as ephemeral. It can be gone at any moment.

Not your keys = not your coins.

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This is the probably the answer to your question.

 

[DerAufklaerer]

safest to holding crypto or better stablecoins.

For a GermN (EU Customer).

 

[diatessaron]

If you can handle Bitfinexs UI go for it. Phemex and Mecx are reputable also, the rest of them maybe, I've never used them.

 

[DerAufklaerer]

I can deal with everyone. Mexc has a maker fee of 0%. That's very practical and unique - standard is from 0.1%.

 

[JackAlabama]

DerAufklaerer said:
safest to holding crypto or better stablecoins.

For a GermN (EU Customer).
Click to expand...

you can hold these on hardware or software wallets as well.
Dont be in the hands of these shady exchanges.

 

[Silverlake]

DerAufklaerer said:
safest to holding crypto or better stablecoins.

For a GermN (EU Customer).
Click to expand...

You must have balls of steel to even consider this, especially after what happened recently with FTX.

It doesn't matter if it's onshore or offshore, regulated or unregulated, you know the saying, "Not Your Keys, Not Your Coins".

Use the exchanges to run your trades and store your crypto on a hardware wallet - this is the safest option.

 

[EliasIT]

Sols said:
Safest in what sense?

Do not keep crypto on exchanges. Only deposit money with an exchange in order to trade, and then immediately withdraw. Any balance held on an exchange should be thought of as ephemeral. It can be gone at any moment.

Not your keys = not your coins.
Click to expand...

Say you have 100K LTC and you want to exchange them at a limited price say 90 - how would you do that if you don't have them on an exchange? the price of 90 could be reached if you sleep or just out or something and fall back minutes after. You can't even move LTC or any crypto that fast to an exchange before it can be too late?

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If money is your hope for independence you will never have it. The only real security that a man will have in this world is a reserve of knowledge, experience, and ability!
My personal favorite thread posted in the Mentor Group. Group of investment companies to avoid licensing.

 

[Silverlake]

EliasIT said:
Say you have 100K LTC and you want to exchange them at a limited price say 90 - how would you do that if you don't have them on an exchange? the price of 90 could be reached if you sleep or just out or something and fall back minutes after. You can't even move LTC or any crypto that fast to an exchange before it can be too late?
Click to expand...

Send the coins from your wallet to an exchange and place a limit order.

In addition, I don't think you should be particularly concerned about the time it will take for the transaction to be confirmed on-chain until you can actually execute an order on the exchange since you are using Litecoin and these confirmations are quite quick. Furthermore, if you really have 100K worth of LTC you want to offload you have much bigger problems to worry about other than "perceived slippage".

 

[JohnnyDoe]

EliasIT said:
Say you have 100K LTC and you want to exchange them at a limited price say 90 - how would you do that if you don't have them on an exchange? the price of 90 could be reached if you sleep or just out or something and fall back minutes after. You can't even move LTC or any crypto that fast to an exchange before it can be too late?
Click to expand...

I get your point. You can move to the exchange the shitcoin you need to offload when it's some 20% from your target price. If price sinks, move it back to your cold wallet.

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@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields​

 

[Sols]

EliasIT said:
Say you have 100K LTC and you want to exchange them at a limited price say 90 - how would you do that if you don't have them on an exchange? the price of 90 could be reached if you sleep or just out or something and fall back minutes after. You can't even move LTC or any crypto that fast to an exchange before it can be too late?
Click to expand...

It's a risk based decision.

On the one hand, you risk losing all your crypto at any moment due to someone else's fault or fraud. On the other hand, maybe you're able to trade at a better price than if you have to move the coins in first before trading.

Up to you if it's worth it.

A good OTC desk is better and faster than a lot of exchanges. If you see LTC trading near whatever value you're after, contact your OTC traders for quotes. If you get a good quote: lock it in and send your coins.

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This is the probably the answer to your question.

 

[JohnnyDoe]

Sols said:
A good OTC desk is better and faster than a lot of exchanges. If you see LTC trading near whatever value you're after, contact your OTC traders for quotes. If you get a good quote: lock it in and send your coins.
Click to expand...

OTC desks don't handle shitcoins gru87¤¤ I mean those even worse than LTC.

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@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields​

 

[Sols]

JohnnyDoe said:
OTC desks don't handle shitcoins gru87¤¤ I mean those even worse than LTC.
Click to expand...

Then starting a shitcoin OTC sounds like a business opportunity to me. 😉

But fair point. I've never traded LTC or shitcoins enough for OTC desk to even be a consideration.

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This is the probably the answer to your question.

 

[EliasIT]

Silverlake said:
Furthermore, if you really have 100K worth of LTC you want to offload you have much bigger problems to worry about other than "perceived slippage".
Click to expand...

What problems. I have no problems with that amount. ??

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If money is your hope for independence you will never have it. The only real security that a man will have in this world is a reserve of knowledge, experience, and ability!
My personal favorite thread posted in the Mentor Group. Group of investment companies to avoid licensing.

 

[EliasIT]

Sols said:
It's a risk based decision.

On the one hand, you risk losing all your crypto at any moment due to someone else's fault or fraud. On the other hand, maybe you're able to trade at a better price than if you have to move the coins in first before trading.

Up to you if it's worth it.

A good OTC desk is better and faster than a lot of exchanges. If you see LTC trading near whatever value you're after, contact your OTC traders for quotes. If you get a good quote: lock it in and send your coins.
Click to expand...

Thanks, it's a valid option indeed.

I just remember @JohnnyDoe said you need at least 100K + to trade on any OTC ?

Toggle signature
If money is your hope for independence you will never have it. The only real security that a man will have in this world is a reserve of knowledge, experience, and ability!
My personal favorite thread posted in the Mentor Group. Group of investment companies to avoid licensing.

 

[Silverlake]

EliasIT said:
What problems. I have no problems with that amount. ??
Click to expand...

Are you suggesting you can offload $8m through an exchange (using their order book), in a single order, all at the same price and have no problems ?

Wouldn't it be better to place such orders through OTC via RFQ?

 

[JohnnyDoe]

EliasIT said:
Thanks, it's a valid option indeed.

I just remember @JohnnyDoe said you need at least 100K + to trade on any OTC ?
Click to expand...

Yes. I remember an Asian one with a $50k minimum back in the day, but I'm afraid they closed.

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@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields​

 

[Silverlake]

JohnnyDoe said:
Yes. I remember an Asian one with a $50k minimum back in the day, but I'm afraid they closed.
Click to expand...

You can start with $10K (minimum) on OKX.

Reference: https://www.okx.com/liquid-marketplace

 

[JackieTsan]

Sols said:
Safest in what sense?

Do not keep crypto on exchanges. Only deposit money with an exchange in order to trade, and then immediately withdraw. Any balance held on an exchange should be thought of as ephemeral. It can be gone at any moment.

Not your keys = not your coins.
Click to expand...

Can you please suggest one excange, I have BTC on my hardware wallet and I would like somehow to exchange to USDT and send USD to my bank account. I don't have problem with the bank, will accept it, but my problem is how / which exchange i can use to avoid been blocked. Amounts will be 50-60 K each time.
Binance? Coinbase? another - which? I don't mind higher fees, I mind not to be stolen my crypto / money.
All crypto has been purchased by me, noone paid / transfered to me, is totally clear but I don't want headaches and a lot of issues to convert.
thank you!

 

[JohnnyDoe]

JackieTsan said:
Can you please suggest one excange, I have BTC on my hardware wallet and I would like somehow to exchange to USDT and send USD to my bank account. I don't have problem with the bank, will accept it, but my problem is how / which exchange i can use to avoid been blocked. Amounts will be 50-60 K each time.
Binance? Coinbase? another - which? I don't mind higher fees, I mind not to be stolen my crypto / money.
All crypto has been purchased by me, noone paid / transfered to me, is totally clear but I don't want headaches and a lot of issues to convert.
thank you!
Click to expand...

Why should you sell your btc for usd?

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@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields​