Is it safe to transfer coins from exchanges to wallets? Tutorial on how to mention the exchange’s currency in the wallet

Based on the decentralized nature of cryptocurrency, the issue of currency storage has always been a focus of concern in the currency circle. In particular, the frequent incidents of currency theft from exchanges have caused panic in the currency circle. Based on this, many investors will choose to transfer their coins from the exchange to their wallets. However, some people are afraid of being bitten by a snake once, and worry that it is not safe to mention their wallets. Is it safe to transfer coins from exchanges to wallets? This is what investors are concerned about. It is relatively safe, but they should also pay attention to the network, wallet selection, etc. The editor will explain it in detail below.

Is it safe to transfer coins from the exchange to the wallet?

It is relatively safe to transfer the currency from the exchange to the wallet, but you must pay attention to the following five points when performing this operation:

1. Choose a trusted wallet: choose an approved, A wallet with high trust and good security is very important for the security of assets. Hardware wallets (such as Ledger, Trezor), cold wallets (offline storage) or some well-known software wallets (such as MetaMask) are relatively safe and reliable options.

2. Make sure the wallet address is correct: During the withdrawal process, be sure to confirm the accuracy of the wallet address. Once the wrong address is mentioned, the assets may not be recovered. The best thing to do is to use the copy-and-paste feature to avoid manually entering addresses.

3. Set up security measures: When using the wallet, be sure to set up security measures, such as passwords, mnemonic phrases, etc. At the same time, wallet information should be backed up regularly to prevent accidental losses.

4. Prevent phishing attacks: Pay attention to phishing websites and fraudulent activities, and ensure that the wallet website you enter is an official website or a link obtained through reliable channels.

5. Avoid public networks: When withdrawing coins, try to avoid using public networks and ensure that you are connected to a secure network environment to prevent information from being stolen.

How to transfer the currency from the exchange to the wallet?

There is still a certain threshold for transferring the currency from the exchange to the wallet. Novice investors can follow the tutorial below using the example of mentioning the Web3 wallet on the European Exchange to operate:

1. Open the official website of OKX Exchange (click to register), enter your email address on the homepage, click "Register", slide the slider to the right, complete the puzzle for verification, and then enter the verification code received by email. The verification code is valid for 10 minutes

2. Then enter your mobile phone number, click "Verify Now", and enter the six-digit verification code received by your mobile phone. The validity time is also 10 minutes

3. Select your country/region of residence and check the Terms of Service, "Risk and Compliance Disclosure" and Privacy Policy and Statement

4 , Creating a password needs to meet the conditions of 8-32 characters in length, 1 lowercase letter, 1 uppercase letter, 1 number, 1 symbol, such as: !@ # $ % and other conditions

5. After logging in to your account, find the "User Center" icon on the homepage and enter the identity authentication page

6. Different levels of authentication can be performed according to different needs ( Note: Video authentication needs to be performed on the APP)

7. Click [Asset Management] on the homepage and select [Withdrawal] to enter the withdrawal page

8. Select the currency [USDT] on the withdrawal page, select the withdrawal method [On-chain withdrawal] and click Next

9. Withdraw the money For details, enter the withdrawal address in step 5 for the withdrawal address, select TRC20 for the withdrawal network, enter the amount and click Next (note that the withdrawal network and the recharge network need to be consistent. Otherwise, assets may be lost)

10. Click [Receive], select the currency to be transferred, and the payment address will pop up. Copy the address and paste it into the OK platform currency withdrawal interface, and you can successfully deposit digital assets into Web3 wallet.

Lifting coins from exchanges to wallets is a practice that improves asset security, but it requires caution and appropriate security measures to protect personal assets. . Generally speaking for larger amounts of cryptocurrency held over the long term, storing them in a wallet is a safer option. For assets that are frequently traded, exchanges provide greater convenience. The best way to do this is to find a balance across exchanges and wallets, diversify your assets on a case-by-case basis, and take appropriate security measures.

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