why do you say so and is a decentralized market guaranteed?
I think there are more cases in decentralized exchange because it's not exposed in the media or the news so there is no bad news about it.
all markets have their respective advantages.
Topic: Deleted due to compromised account - page 2. (Read 968 times)
It is people's laziness, and there's nothing we can do about them but warn them about it.
I have online wallet but most of the time I convert them into fiat anyway and at times I am thinking of creating desktop wallet isolated only for the purpose of hodling my money and the device won't be used to connect to unsafe networks.
Although even reputated exchange like Binance would be able to recover damages done to people, it isn't worth of just being a victim in one of those.
I have online wallet but most of the time I convert them into fiat anyway and at times I am thinking of creating desktop wallet isolated only for the purpose of hodling my money and the device won't be used to connect to unsafe networks.
Although even reputated exchange like Binance would be able to recover damages done to people, it isn't worth of just being a victim in one of those.
There is no other better exchange that will give you same service like that of centralized exchange, binance is a top centralized exchange and yes they got hacked but binance paid all lost funds, isn't it? My own advice is never to leave huge $$$ worth of coins on any centralized exchange because another hack might be around the corner
But with all those hack incidents hitting the largest of cryptocurrency exchanges, the people are still using them more than DEXs. I don't understand why. The volume is not a reason because sooner or later when people are really choosing DEXs over centralized exchanges, the volume will immediately follow. There is really no future with centralized exchanges for me. KYC is one issue. Hacking and stealing of coins and other personal information is another.
some time ago I have experienced the same thing but now I am trying to trade with another method although using a decentralized exchange place I use a special wallet for trading so I will not lose all the assets that I have again, because I have had experience using 1 wallet to trade and save coins and get hacked I suffered a lot of losses.That's a nice strategy you have. Sometimes we really need to walk an extra mile for our security.
I had a bad experience with Etherdelta before, the most popular and trusted DEX in the history of cryptocurrency trading. I had a little trauma inputting my private key into any DEX after that. But then when its reputation was already sullied, I tried shifting to IDEX and everything was smooth once again.
Based on my experience with etherdelta, that's opposite with your problems mate. Though there were times I encountered delayed processing on trading, but it went good after my order had been completed. Also with IDEX, your transactions on same problem will tend to happen when there's some problem that would arise which beyond our control.
My problem with Etherdelta was not about delays. It was due to my using the platform that my ETH was stolen. There must be a problem somewhere. I guess my address was included in the addresses that were hacked during that time. It was not a big amount at all but still that was enough for me to create another MEW account. I had no problems with IDEX.
Hack, scam are common things in Centralized exchange. Don't get fooled by the high rank or huge trading volume, still, they are not safe! Binance CEO CZ was very confident that Binance is like a hardware wallet, he tweeted about it and after one month of that tweet, Binance got hacked and 7000 Bitcoin was compromised! Bithumb, Coinbene was hacked several times, many centralized exchanges scammed us.
Recently BCNEX exchange is likely to scam, they locked withdrawal, after 20 days when they unlocked the withdrawal function, people started withdrawing their money, but BCNEX is not finishing our withdrawals, they limited the itl by 50$ only! I have withdrawn my ETH 6 hours ago, still pending, some withdrew 14 hours go, still pending!
So, this is proved again why you shouldn't keep your money on a centralized exchange! Your money can be a scam or hacked anytime!
Scam exchange, fake volume, top volume exchange always shouldn't trust. P2pb2b exchange has huge volume as several website but still this exchange is in the untrusted list. Almost all exchange has hacked history in cryptocurrency market but even though we have to trust legit exchange. Only by ICO Bcnex make the top success last year but now has untrust results. Recently BCNEX exchange is likely to scam, they locked withdrawal, after 20 days when they unlocked the withdrawal function, people started withdrawing their money, but BCNEX is not finishing our withdrawals, they limited the itl by 50$ only! I have withdrawn my ETH 6 hours ago, still pending, some withdrew 14 hours go, still pending!
So, this is proved again why you shouldn't keep your money on a centralized exchange! Your money can be a scam or hacked anytime!
It is not possible to disagree with you. CEXs are the most dangerous places in crypto sphere in terms of hacking and blocking of our funds. If you transfer the fund to the wrong address, never consider an option like correcting the transaction. They can do what they want with their own rules and in return we will get just an apology, but we will be removed immediately in our first mistake against them.
Really true, usually centralised exchange will rules against us and put us to blame when there's a slight mistake on our end meanwhile they could get away easily if there's a massive hacking occurs just like back then on various exchange. They sometimes unreasonably locking someone's account and I've experienced it once.And gladly that Binance, Kucoin and Bittrex does not ask for KYC first before making a transaction on their exchange which is really i like and i feel unanimous.
Which is why ALL of you should wake up and start using decentralized exchanges like the Blocknet DEX: https://blockdx.com/
On top of that Blocknet is working on Decentralized Oracles as well, this makes running a node become extremely profitable in the near future, the recent price move is a good sign that a lot of people is watching this project from the sidelines
On top of that Blocknet is working on Decentralized Oracles as well, this makes running a node become extremely profitable in the near future, the recent price move is a good sign that a lot of people is watching this project from the sidelines
I am trying to fathom what BCNEX was trying to guide against. You know that it is a new exchange and exchanges like that need volume. They might have seen a lot of people withdrawing fund, which could have left the exchange with a limited fund, so they had to put a control to it. I checked it recently and I saw that the limited withdrawal for 24 hours is $100. I think they increased it a little. However, withdrawals are now being executed as fast as possible.
yes .. any exchange can be at risk like that or hacks can occur. I personally never save big money in the exchange because I know very well the risks. I am a project promoter and also an ordinary trader. I just use every exchange in accordance with my needs.
Hack, scam are common things in Centralized exchange. Don't get fooled by the high rank or huge trading volume, still, they are not safe! Binance CEO CZ was very confident that Binance is like a hardware wallet, he tweeted about it and after one month of that tweet, Binance got hacked and 7000 Bitcoin was compromised! Bithumb, Coinbene was hacked several times, many centralized exchanges scammed us.
Recently BCNEX exchange is likely to scam, they locked withdrawal, after 20 days when they unlocked the withdrawal function, people started withdrawing their money, but BCNEX is not finishing our withdrawals, they limited the itl by 50$ only! I have withdrawn my ETH 6 hours ago, still pending, some withdrew 14 hours go, still pending!
So, this is proved again why you shouldn't keep your money on a centralized exchange! Your money can be a scam or hacked anytime!
well its not really a good idea to put all your money in exchangeRecently BCNEX exchange is likely to scam, they locked withdrawal, after 20 days when they unlocked the withdrawal function, people started withdrawing their money, but BCNEX is not finishing our withdrawals, they limited the itl by 50$ only! I have withdrawn my ETH 6 hours ago, still pending, some withdrew 14 hours go, still pending!
So, this is proved again why you shouldn't keep your money on a centralized exchange! Your money can be a scam or hacked anytime!
only put the amount you need to trade and withdraw it as soon as possible
exchange is really not secure as it seems a lot of exchange closed in the past because of hacked
if only there will be a good decentralized exchange that we can use with many users I will not also use a centralized exchange
The choice of keeping money in CEXs seems to encourage those who trade daily. Because instead of paying extra fees and wasting time, keeping it there is a more convenient way. In DEXs, this is somewhat different and plays a role to protect you without your knowledge.
As much as possible don't put too much expectation and investment in any exchange, we must limit and monitor our investment well since we don't know when they will gone or escape. I prefer to spend in transaction fees than to left my money in an exchange for long time due to this event that locking may happen.
I also have same principle, it's better to pay those transaction fees than to store my crypto inside exchange wallets. I prefer to hold my assets where full control is in my hand as I'm the one who's in charge to whatever possible things that might happen. Unlike with exchange wallets where unexpected things can ruined and sucks all your money.
Hack, scam are common things in Centralized exchange. Don't get fooled by the high rank or huge trading volume, still, they are not safe! Binance CEO CZ was very confident that Binance is like a hardware wallet, he tweeted about it and after one month of that tweet, Binance got hacked and 7000 Bitcoin was compromised! Bithumb, Coinbene was hacked several times, many centralized exchanges scammed us.
Recently BCNEX exchange is likely to scam, they locked withdrawal, after 20 days when they unlocked the withdrawal function, people started withdrawing their money, but BCNEX is not finishing our withdrawals, they limited the itl by 50$ only! I have withdrawn my ETH 6 hours ago, still pending, some withdrew 14 hours go, still pending!
So, this is proved again why you shouldn't keep your money on a centralized exchange! Your money can be a scam or hacked anytime!
Recently BCNEX exchange is likely to scam, they locked withdrawal, after 20 days when they unlocked the withdrawal function, people started withdrawing their money, but BCNEX is not finishing our withdrawals, they limited the itl by 50$ only! I have withdrawn my ETH 6 hours ago, still pending, some withdrew 14 hours go, still pending!
So, this is proved again why you shouldn't keep your money on a centralized exchange! Your money can be a scam or hacked anytime!
You speak as if we have a choice. All the things you said are obvious, by the way, I don’t think that you made a deposit at BCNEX, most likely you are trying to withdraw the funds you earned from the bounty. In any case, DEX exchanges are not ideal and do not provide the proper level of speed, liquidity and convenience. All the exchanges you listed, except BCNEX, have returned funds to their users and continue to operate normally.
As much as possible don't put too much expectation and investment in any exchange, we must limit and monitor our investment well since we don't know when they will gone or escape. I prefer to spend in transaction fees than to left my money in an exchange for long time due to this event that locking may happen.
I also have same principle, it's better to pay those transaction fees than to store my crypto inside exchange wallets. I prefer to hold my assets where full control is in my hand as I'm the one who's in charge to whatever possible things that might happen. Unlike with exchange wallets where unexpected things can ruined and sucks all your money. I don't know how this hacks and scams can be avoided with the decentralized exchanges. With Binance the hack took place, and the funds that got away from the users end were settled by Binance itself. Will the same is possible with decentralized exchanges, if some hack has taken place and funds were stolen. At such situation whom should the users claim.
I think dex doesn't have a coldwallet like a centralized market, their system only acts as a medium of direct trade between traders who are fully responsible for their private keys, the worst case is a phishing attack that cannot be prevented by developers, the case at dex has never been as big as cex.
Hack, scam are common things in Centralized exchange. Don't get fooled by the high rank or huge trading volume, still, they are not safe! Binance CEO CZ was very confident that Binance is like a hardware wallet, he tweeted about it and after one month of that tweet, Binance got hacked and 7000 Bitcoin was compromised! Bithumb, Coinbene was hacked several times, many centralized exchanges scammed us.
Recently BCNEX exchange is likely to scam, they locked withdrawal, after 20 days when they unlocked the withdrawal function, people started withdrawing their money, but BCNEX is not finishing our withdrawals, they limited the itl by 50$ only! I have withdrawn my ETH 6 hours ago, still pending, some withdrew 14 hours go, still pending!
So, this is proved again why you shouldn't keep your money on a centralized exchange! Your money can be a scam or hacked anytime!
Yeah your right if possible don't put large amount of money in any centralized exchange as their are many factors that can trap your money in that exchange. Recently BCNEX exchange is likely to scam, they locked withdrawal, after 20 days when they unlocked the withdrawal function, people started withdrawing their money, but BCNEX is not finishing our withdrawals, they limited the itl by 50$ only! I have withdrawn my ETH 6 hours ago, still pending, some withdrew 14 hours go, still pending!
So, this is proved again why you shouldn't keep your money on a centralized exchange! Your money can be a scam or hacked anytime!
Or you can put money in centralized exchange but make sure that you will not let it stay for a long period of time to avoid those problems like hacking and scamming attempt. Anything can happen so it's better that we need to be wise or else we will lose our hard earned money easily.
As much as possible don't put too much expectation and investment in any exchange, we must limit and monitor our investment well since we don't know when they will gone or escape. I prefer to spend in transaction fees than to left my money in an exchange for long time due to this event that locking may happen.
Indeed, centralized exchanges are riskier in terms of security but some of them insure the assets. Hacking of Binance didn't affect the assets of any users because this exchange was able to return the stolen money. It appears that it demonstrates that centralized exchanges can be less dangerous (but not many of them). So security is not a question of decentralization/centralization. Decentralized exchanges can be not safe, too. CryptoBridge, for example, has gone away (all of a sudden). I wonder what happened to the money of people who didn't manage to withdraw them in time.
yes if we are on exchange then we have to care that even on decentralized exchanges we will not consider our money safe as the hacker if can get access to bigger exchange servers then they can also get access to our systems and can hack our private keys and can withdraw our money. But here the case is that if we know how to secure then we will make our system fully secured but we do not know that how much other centralized exchanges are secured. There are also chances that some exchanges exit with scam as mentioned about one of the exchange in the OP. 
But with all those hack incidents hitting the largest of cryptocurrency exchanges, the people are still using them more than DEXs. I don't understand why. The volume is not a reason because sooner or later when people are really choosing DEXs over centralized exchanges, the volume will immediately follow. There is really no future with centralized exchanges for me. KYC is one issue. Hacking and stealing of coins and other personal information is another.
some time ago I have experienced the same thing but now I am trying to trade with another method although using a decentralized exchange place I use a special wallet for trading so I will not lose all the assets that I have again, because I have had experience using 1 wallet to trade and save coins and get hacked I suffered a lot of losses.That's a nice strategy you have. Sometimes we really need to walk an extra mile for our security.
I had a bad experience with Etherdelta before, the most popular and trusted DEX in the history of cryptocurrency trading. I had a little trauma inputting my private key into any DEX after that. But then when its reputation was already sullied, I tried shifting to IDEX and everything was smooth once again.
Based on my experience with etherdelta, that's opposite with your problems mate. Though there were times I encountered delayed processing on trading, but it went good after my order had been completed. Also with IDEX, your transactions on same problem will tend to happen when there's some problem that would arise which beyond our control.
Hack, scam are common things in Centralized exchange. Don't get fooled by the high rank or huge trading volume, still, they are not safe! Binance CEO CZ was very confident that Binance is like a hardware wallet, he tweeted about it and after one month of that tweet, Binance got hacked and 7000 Bitcoin was compromised! Bithumb, Coinbene was hacked several times, many centralized exchanges scammed us.
Recently BCNEX exchange is likely to scam, they locked withdrawal, after 20 days when they unlocked the withdrawal function, people started withdrawing their money, but BCNEX is not finishing our withdrawals, they limited the itl by 50$ only! I have withdrawn my ETH 6 hours ago, still pending, some withdrew 14 hours go, still pending!
So, this is proved again why you shouldn't keep your money on a centralized exchange! Your money can be a scam or hacked anytime!
Well that's true, that no systems are 100% percent safe, because all systems are prone to errors that might be cause of some serious problems such as hacking, that's why continues upgrade is a must to fix those errors. But in my opinion you should stop comparing those thriving and trustworthy tested platforms from the new ones, like binance for example im using it since 2017 but until now i never faced any single problem so far that's why i'm not convince that its dangerous to trust and use the centralized exchange, Bcnex and Binance is not the same level so its not appropriate to compare them. Recently BCNEX exchange is likely to scam, they locked withdrawal, after 20 days when they unlocked the withdrawal function, people started withdrawing their money, but BCNEX is not finishing our withdrawals, they limited the itl by 50$ only! I have withdrawn my ETH 6 hours ago, still pending, some withdrew 14 hours go, still pending!
So, this is proved again why you shouldn't keep your money on a centralized exchange! Your money can be a scam or hacked anytime!
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