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WalkerIVIV

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Cryptocasino.com

Quote from: MINISTR_E on January 20, 2020, 03:38:09 AM

We pay for comfortable work with cryptocurrencies to centralized exchanges, but we can completely abandon them. But, can we then make a good profit? Undecided

If you are a trader and what are you looking for to make a good profit should be the liquidity and the fact that if DEX is less on the liquidity compared with the centralized exchange site. Based on this point and that will much more difficult for you to create good profit from the decentralized market. I believe the answer you can't.

the rise

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DGbet.fun - Crypto Sportsbook

Quote from: Ayiranorea on January 20, 2020, 03:42:40 AM

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.

Ayiranorea

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Leading Crypto Sports Betting & Casino Platform

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.

MINISTR_E

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We pay for comfortable work with cryptocurrencies to centralized exchanges, but we can completely abandon them. But, can we then make a good profit? Undecided

huu78

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Undeads.com - P2E Runner Game

Quote from: Plinteng on January 18, 2020, 03:32:21 PM

actually not only in a centralized exchange but with any exchange that has millions of dollars in assets is also one of them, because fraudsters are always after valuable items.

therefore, for anyone, never store your assets for too long in the Exchange, because it is very risky against hacking.
Be a wise user, use exchanges according to your needs.

It should be like that, we as intelligent people must save our money in personal wallets and hardware wallets that we have as in the FlashDisk.
Exchange is just a place of exchange without saving our money there too long. Because it is at risk like the above where many hacking happens.

Sri rahayu

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Quote from: huu78 on January 19, 2020, 02:12:37 PM

It is as risky as it is, as we keep our money into our personal wallets or physical wallets such as safer flash drives.
Exchange in my opinion only a place to sell a coin without holding it too long so it does not happen like that.

I agree with you, and only send it back to the exchange wallet when I want to trade again, When I finished trading, I pulled back to my personal wallet.

NathanJB

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Quote from: pikkie on January 19, 2020, 12:51:10 AM

Quote from: NathanJB on January 19, 2020, 12:44:14 AM

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.

asriloni

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Quote from: TimeTeller on January 18, 2020, 07:07:49 PM

Quote from: asriloni on January 18, 2020, 06:54:44 PM

God, the team was blocking my telegram account yesterday and some people said the team is already erasing the telegram group too. Just think to always use the reputable exchange site will be much better rather than try to use the new exchange site. The liquidity on the hot wallet of bcnex is almost zero and that's crap. I guess the amounts have been stolen by the team.

The possibility of running away from their customers is very high with how they are dealing things.
Why would the team erase their social media channel if there is no imminent exit activity?
I really don't trust new exchanges with very low liquidity and trading volume.
Better stick to your known exchanges that you have proven that you can withdraw your funds anytime you want without waiting for so long.
I still trust some exchanges but storing my coins is really a no no for me anymore.

Im not sure if this exchange site currently already an exit scam.
But it looks like the team is just wanna avoiding a lot of complaints that have been made by the users. The strange thing is when another exchange site has million dollars on its hot wallet but this exchange site has only a few ethereum. In my understand someone who will try to WD his money must wait until there will be another user who is depositing his money to the hot wallet. I just think the million dollars that have already raised already stolen by the team.

hirngespenst

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You are absolutely right mate, Centralized exchanges have bad records for years! Among all old crypto exchange Only Bittrex was good all these days. But yet it can't be a storehouse of your coin! Hack, scam It is like very common, regular in centralized exchanges! However, I hope BCNEX won't scam this time, but everyone should leave this suspicious exchange after all of this drama. They told me that be patient mate, today is a holiday, so, we will start withdrawing again from Monday! That's mean withdrawal are being handled manually, that's it!

kambaralikhan

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I never place my cryptos on exchanges and never suggest anyone to place as well. Exchanges are not safe, they can be hacked so better do a little favor and put cryptos in wallets not on exchanges.. It is time taking job to tranfer crypto from wallet to exchange when you have to make a sale or purchase but it's a safe approach.

huu78

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It is as risky as it is, as we keep our money into our personal wallets or physical wallets such as safer flash drives.
Exchange in my opinion only a place to sell a coin without holding it too long so it does not happen like that.

bluebit25

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Quote from: RBF on January 18, 2020, 03:16:58 PM

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!

Reputable exchanges like Binance, Okex, Huobi are difficult to hack. But unfortunately it happened in 2019 for Binance but your assets have been repaid by Binance's Safu fund, so you will not need to worry too much when using top exchanges like this. And with so many other small exchanges becoming scams in the bear market, the BCNEX you listed is an example. Obviously this was a scam exchange when they stopped withdrawing for 20 days and now they are only limited to withdrawing 50$.

nutriagrigia

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Quote from: Spider A4 on January 19, 2020, 09:17:07 AM

True, Hacked & scammed is so common issues from in the last year. Idax exchange is scammed 2 months ago now another centralized exchange scam warning, i lost worth of 400$ assets which is very difficult to afford for me. But it's a great mistaken because idax a lot of fraudulent activities with IEO projects team. BCNX exchange got a little bit popularity, i have small amount money but pending almost 17 hours.

I also lost my money on many exchanges, and after each loss, I told to myself that I would not hold my money on exchanges. Now I hold on the exchange only small amounts of money that I constantly trade. I use a cold wallet for storing money.
BCNEX is in the same situation. the transaction is in Pending for 20 hours ...

ije07

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fraud is always around us even not only in centralized exchange but in everything related to cryptoqurrency, that's where the fraudsters are and they always have various ways to do that. With regard to exchanges, my advice for anyone is never to save big money on the Exchange and it is important to remember that fraudsters like a place where it is big money.

StephenieDuong

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I agree that Centralized exchange are not safe right now, many exchange already scam. This reason that why investors should not hold their fund on the exchange, the best way is download the wallet on store on mobile phone. I always use exchange for 1-2 day to sell my coins and withdraw all after everything finish, for trading i must accept the risk that exchange might gone.

enhu

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There isn't a lot of option for us who wants to keep the coins at disposal all the time but if I meant to store them for good without the trading activity, I would send them to my electrum. I have some dilemma regarding this because I'd like to trade it easily when opportunity knocks which is why keeping it on a wallet with a dex will be more appropriate for it. There are several of these such as EIDOO.

jostorres

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I guess dex is not bad and we all agree on that but you do realize that when there is a DEX exchange usually they are all bad right? Like no good design, no good UX, many many things are wrong, hell sometimes even there are bugs involved as well. So long story short people do not really care about DEX creation, they don't use that much time and effort to make one and that is why it gets less popular.

I personally like binance a lot not because they are centralized, nobody goes to binance like "oh please be centralized, I won't use it unless its centralized", nobody cares if its centralized or not, I go to binance because its actually good, and its really awesome, if one day there is a DEX that is as good as binance, I promise you we will all go there, but until then there is none.

Leah38

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I no longer store my assets in an exchange. After trading , I withdraw all my profits. If I'm waiting for my order to be finished, I would let it stay there for a few days but not for months. I was lucky to have withdrawn my ETH before that thing on Cryptopia. I pity those who lost much of their assets there.

luckyflop

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Quote from: RBF on January 18, 2020, 03:16:58 PM

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!

If BCNEX has a withdrawal limit of $ 50 per person, their exchange is certainly scam, it is better to accuse them and most likely the Vietnamese government will punish them. I don't understand why they were able to complete an ICO with a $ 30 million hardcap, which is a huge amount of money for a new project in the bear market. But it's clear that the way they have been working for the last time is not worth the money, a bullshit exchange

tsaroz

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There are several issues with Dex that are making me stay away from them. They are not fast enough to place and cancel the trades.
There are actually more security risks while trading on DEX than on centralized exchanges as there are 2FA and email confirmations for centralized exchange while there are several ways your keys could be obtained by a malware or hack on DEX.

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