Using an exchange address instead of wallet address

[neku]

I have some payment due for writing , but the website has said that using an exchange address instead of wallet address is asking for trouble. Is it because only wallets can accept smart contracts or is there any other reason why users should not use the exchange address for receiving payment?

 

[Suba]

Of course their reasons will be different from my opinion and maybe everyone will have different opinions as to why you are not allowed to use the exchange address, maybe they can carry out a dust attack or something else, to get a more precise answer, you ask them directly.

 

[Kirubel]

I think may be those exchanging sites use different coin network from the website you are trying to withdraw you coins, most of the times exchanging sites use only one coin network and that may have some problems,

 

[Goldynn89]

Exchanges are different from wallets and when it's specified which one to use, I try to adhere to avoid losing money.

However, I saw that Okx has both wallet and exchange address on the same app which is very confusing.

 

[King Belieal]

I think using exchange address is just for you to keep crypto that you wish to trade with. Remember, any exchange can close at anytime. If you are holding for investment, it is better you use a Wallet.

 

[Kross]

It is more fanciful for hackers to attempt to hack a crypto exchange than to hack a crypto wallet because a crypto exchange has large amounts of crypto. That makes it a risk keeping your assets on exchanges.