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Joined 1 year ago
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Cake day: July 7th, 2023

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  • how does an exchange determine how much money in usd and different cryptocurrencies to keep on hand to safely cover all depositors with them when there is such dramatic volatility in all the different cryptocurrency values?

    If you move 1 BTC to an exchange, and you keep it in your account on the exchange, the exchange is meant to keep the 1 BTC on behalf of you.

    They are not meant to do anything other than keep it.

    An exchange is not a bank.

    If the exchange takes your tokens (or fiat) and does anything other than what you ask them to do, they’re not legit.