Which exchange or wallet is safer? Which one is safer, Binance Exchange/European Exchange or TP Wallet? TP wallet official website link: tokenpocked.com. TokenPocked is a decentralized digital wallet. No customer data is save

Which exchange or wallet is safer? Which one is safer, Binance Exchange/European Exchange or TP Wallet? TP wallet official website link: tokenpocked.com. TokenPocked is a decentralized digital wallet. No customer data is saved,
TP Wallet is a decentralized digital wallet from China. It currently has operation centers in Shenzhen and Singapore. TP wallet official website link: tokenpocked.com. TokenPocked is a digital wallet technology service provider. The TokenPocked team comes from top Internet companies such as Xunlei, Baidu, and Huawei. They have been deeply involved in the fields of point-to-point communications, artificial intelligence, and cloud computing for many years.

TP wallet official website link: tokenpocked.com

When people trade cryptocurrencies, they usually need to use an exchange to implement the transaction. For example, you can buy and sell virtual currencies such as Bitcoin USDT on the Eureka Exchange, Binance Exchange, FTX Exchange, Huobi Exchange, and Coinbase Exchange. However, you know that if you buy a lot of digital currencies, you have to put the currency on the exchange. is it safe? Today, we will learn more about what a centralized exchange is and what its advantages are.


Are you ready to start your amazing journey into the world of cryptocurrency? In most cases, you will use a crypto exchange to get your first Bitcoin or other cryptocurrency of your choice. After this, you will also use crypto exchanges many times as it helps you exchange one digital asset for another. For example, you can exchange Ethereum and Bitcoin into USDT as needed.

But did you know that the cryptocurrency you store on an exchange is actually outside of your control?

You can't do what you want with your cryptocurrency. The exchange holds one important piece of data: your private key. Remember the famous cryptocurrency quote “Without the key, the coin isn’t really yours”? The exchange holds your keys, so they own and control your cryptocurrency.

So imagine if there is a security issue on the exchange's platform. Over the years, we have seen multiple platforms get hacked, resulting in hundreds of millions of dollars in losses. One reason is that these exchanges are centralized: they hold vast amounts of cryptocurrency wealth in one place – perfect targets for hackers. Digital currency exchanges may also misappropriate customers' funds. For example, FTX, the world's second largest exchange, misappropriated customers' funds. The FTX exchange collapsed, and many customers' digital currencies were reset to zero. Huobi collapsed a few years ago, and many The customer also suffered heavy losses.

The TP wallet is a decentralized wallet, and the blockchain is a shared database. The data or information stored in it has the characteristics of being unforgeable, leaving traces throughout the process, traceable, open and transparent, and collectively maintained. Blockchain can be understood as a shared, immutable electronic ledger that can record transactions and track assets in the network. The assets here can be Bitcoin, Ethereum, and USDT. Almost anything of value can be tracked and traded on a blockchain network, reducing risks and costs on all fronts.
The private key of the decentralized TP wallet is kept by the user himself, and the assets are stored on the blockchain. The user is the real holder of the digital currency. The wallet is just a tool that helps users manage assets on the chain and read blockchain data. tool, so it cannot control, steal, or transfer your assets.

Therefore, decentralized wallets are difficult to be attacked by hackers, and users do not have to worry about the wallet service provider’s self-stealing or running away, because as long as you keep the private key when creating the wallet, your assets will still be on the chain. Change wallets The same can be displayed.

Note: Once the decentralized wallet is lost or stolen, it cannot be retrieved without backing up the private key or mnemonic phrase, so be sure to back up your private key and mnemonic phrase safely and correctly.

To sum up, after you buy a large amount of Bitcoin or Ethereum on Binance Exchange/European Exchange, you need to withdraw the coins to your own TP wallet and save them. When you need to sell them, transfer them to the transaction. Sell ​​it to ensure the safety of your own funds.