Good morning Zillionares (or future ones),
I stake through Moonlet. In natural course of trying to find the lowest commission rate, I notice CEX.IO currently at 0%. Nice. Smart way to attract capital for them…however, is this something others in the community would advise to do?
I ask because I would never leave coins in an exchange vs. a wallet otherwise.
I wonder if the same risks exists (total loss due to hack) when staking on CEX.IO.
Thoughts?
This is different because it’s a smart contract holding your funds. The risk is if their node fails to perform and you don’t get all the potential rewards. As far as I understand. Also their fee was raised 1% recently.
On Moonlet, it still reads 0%. But, ViewBlock still reads 1.9999% because the date of increase is not until February. I wonder if CEX.IO is the same (showing 0% in interim).
Where did you see that 1% announcement? Can you share?
Can anyone else confirm if, “because it’s a smart contract holding the funds,” that the risk of total loss is not the same as an exchange getting hacked and hackers stealing coins?
Thank you,