Greetings to all the readers here
Yesterday me and my buddies were talking about whether we should keep our crypto in a centralized exchange, a web3 wallet, or a decentralized exchange. One of my friends recently invested a few thousand dollars and he is saving part of it for the upcoming bear cycle which might start in the next five to six months.
So I asked him where he was keeping his USDT since he is not going to use it for around six to seven months, and he told me that he was going to keep it on one of the exchanges. I was not happy with that answer.
I told him not to take this risk, and if he does not intend to use that fund for a good amount of time then he should keep it in a web3 wallet or a decentralized exchange.
There is also the option of a cold storage wallet, but I know he does not own one, so I just asked him to keep it in a decentralized exchange where no central authority is going to control his fund, or in a web3 wallet like Metamask or Phantom.
I realized that there is one of the most unpopular decentralized exchanges on our Hive blockchain named Tribaldex, and I think it is better than most of the decentralized exchanges in the market. Most of the other ones are already well known to people as well as to the central power of different countries, but Tribaldex is still a hidden option where one might put their funds into.
I think Tribaldex can be a good choice to just let the USDT rest there, or maybe even the Hive wallet where the HBD can give him some return yearly instead of just keeping the USDT in his decentralized exchange.
I think there are also top tier tokens on Tribaldex which one can buy. Apart from the tokens that are built on Hive blockchain, I think we can also buy Bitcoin, Ethereum, Doge and others. All these famous coins are available on Tribaldex.
So I think for the long term option, Hive Engine or Tribaldex can also be one of the options. I have never witnessed any issues with the exchange so far. I have used it quite a lot and I think everything works smoothly there. I also believe that there is a good technical support team as well to solve your issues in case you witness any.
But anyways, if you are holding USDT in a centralized exchange, it is not a good idea. In fact, holding your spot wallet in a centralized exchange is also not a good idea. So it is better to keep them in a Web3 wallet or a decentralized exchange like Tribaldex. Or if you have a cold storage wallet, that is the best option in my opinion.
