u/GeraldineAndrewsPond

I’ve been comparing two ways to handle swaps when the amount is a few thousand USDC

Keeping funds on a CEX has the obvious risks

• account review
• withdrawal hold
• another KYC check
• funds sitting there longer than planned

A no-account swap cuts out most of that account stuff but the counterparty risk is still there once I send the deposit I still depend on the swap service until the BTC is sent to my wallet.
So the risk isn’t gone.
It just moves from keeping money on an exchange to trusting the service for the time the swap is being processed.

For something around 2,700 to 3,000 USDC, that matters more to me than squeezing out a slightly better quote.

At this point I see it more as long term custody risk on a CEX vs short-term execution risk during a swap.