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safest offshore Exchange

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DerAufklaerer

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Apr 7, 2022
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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 ?
 
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.
 
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.
 
I can deal with everyone. Mexc has a maker fee of 0%. That's very practical‌ and unique - standard is from 0.1%.
 
you can hold these on hardware or software wallets as well.
Dont be‌ in the hands of these shady exchanges.
 
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.
 
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 minutes︀ after. You can't even move LTC or any crypto that fast to an exchange before︁ it can be too late?
 
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 on︀ the exchange since you are using Litecoin and these confirmations are quite quick. Furthermore, if︁ you really have 100K worth of LTC you want to offload you have much bigger︂ problems to worry about other than "perceived slippage".
 
EliasIT said:
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...
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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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, maybe︀ you're able to trade at a better price than if you have to move the︁ coins in first before trading.

Up to you if it's worth it.

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

I just remember @JohnnyDoe said you need at least 100K⁢ + to trade on any OTC ?
 
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?
 
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 use︀ 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, is︃ totally clear but I don't want headaches and a lot of issues to convert.
thank you!
 
Good question.‌ Because I feel that maybe it’s on the top and can’t go more up, or‍ at least get my initial amount out at the moment. What do you think?
Besides that, to be ready or know how to do it.
And at least, to know⁠ how to convert btc to a stable coin
Thank you
 
Ah @JohnnyDoe I really hope you are so right and⁠ I am so wrong. So your suggestion as I understand is KEEP KEEP BTC. Ok⁤ and then what? For ever and ever?
I feel like I have a very high-expensive⁣ tissue that I can't use as money (for legal things as I'm not into shaddy⁢ and illegal), and are locked there on the descrition of any scammer-maybe "exchange" in case︀ I want to cash them. Am I feeling wrong?
And then I start considering how︁ all these people is using it? Or maybe its not for the white things of︂ life? ...
And then - my thoughts - go to my initial capital that for︃ me is very important amount and I don't want to see it dissapearing one morning,︄ which I personally believe that will happen. And why? because it's somehing that noone knows︅ what it is... where it is, who is managing it. Tell me, WHO you have︆ to chase / go for if tomorrow morning you see that the BTC / ETH︇ and all these simply dissapear???

Thank you and please accept my sincere apologies for my︈ stupid - probably - questions. 🙂
 
You mean real estate? Hard! In many countries they want‍ to see the money coming in to change the title to your name. UNLESS it's⁠ a shaddy transaction of a property owned by a shaddy company and you buy the⁤ company with crypto... shaddy 🙂
I promise to do but can you give me some more info⁢ on this?

Hundreds of thanks once again @JohnnyDoe
 
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