More and more cryptocurrency players are aware of a problem:
“All CEX platforms are borrowers of your assets, not custodians.”
Especially after experiencing withdrawal restrictions, system maintenance, and platform crashes, I realized what on-chain wallets and DEX mean.
✅ Three steps to move from CEX to on-chain
Step 1: Understand the nature and types of wallets
Hot wallet: Metamask, OKX Wallet, Bitget Wallet, etc., suitable for daily use
Cold wallet: Ledger, Trezor, suitable for long-term holding
Be sure to save your mnemonic! Mnemonic = all assets
Step 2: Learn basic on-chain interactions
How to cross-chain? Use LayerZero, Orbiter, Wormhole and other bridges
How to check the contract address? Go to Coingecko or the official channel to get it
How to check gas fees? If Ethereum is expensive, use L2 such as Arbitrum or Linea
Step 3: Trade with DEX
Use Uniswap/Sushiswap/PancakeSwap for decentralized trading
Know how to use the limit order function to prevent excessive slippage
Manage authorizations well and cancel unused contract authorizations in a timely manner (Revoke.cash can be used)
🧠 How to play on the chain safely?
Do not connect to wallets from unfamiliar websites
Do not easily mint unknown NFTs or sign suspicious transactions
Set up multi-signature for important wallets or transfer to hardware cold wallets
Use multiple wallets separately to reduce risk concentration
📌 The on-chain world is the future trend, and DEX and wallet are your compulsory courses.
Even if you are still mainly using CEX today, start understanding the on-chain logic as early as possible, you will need it sooner or later!
If you want a “detailed on-chain hair-pulling toolkit” or “how to build your own secure wallet system”, please comment and I will update the next article.