Are there any restrictions or limitations when using an account created through an exchange versus one created directly through an individual’s wallet address and private key combination ?
Yes, there are some restrictions and limitations when using an account created through an exchange versus one created directly through an individual’s wallet address and private key combination.
When creating an account through an exchange, the user does not have full control over the account. The exchange holds the private key for the account, meaning that the user does not have direct access to their funds. This means that if the exchange were to be hacked or become insolvent, users would not be able to access their funds.
Additionally, users may be subject to certain fees and restrictions imposed by the exchange when using their accounts. On the other hand, when creating an account directly through a wallet address and private key combination, users have full control over their funds as they are in possession of their own private keys. This means that users can access their funds at any time without having to worry about fees or restrictions imposed by a third party.
Additionally, users can also take advantage of features such as staking and voting on EOS blockchain proposals which are not available when using an exchange-created account.
