Topic: Deleted due to compromised account - page 5. (Read 968 times)
BCNEX has not been proven to be a scam, they only manage funds very poorly and process them not automatically for 24 hours. some responsibility was made to cover up their mistakes this month, but in unsatisfactory ways. I assume they took a lot of funds / corruption unilaterally at the end of last year without considering the stability of funding at their own exchange.
Yes, you are absolutely right! Centralized exchanges are not to be trusted blindly. Anytime you can get compromised or scammed! Though Binance SAFU protected users balance but still binance is not a safe exchange, nor any other centralized! Don't store your coins on a centralized exchange, buy a hardware wallet for it!
I am seeing many threads against BCNEX, I hope everyone can get their withdrawal and get out from this shit exchange!
I am seeing many threads against BCNEX, I hope everyone can get their withdrawal and get out from this shit exchange!
The centralised exchange is certainly not the best place for storing ones cryptocurrency, and the issue of people loosing their funds to exchange is quite unfortunate. I recall Last year when binance lost 7,000 btc to hackers which is quite a substantial sum, but that didn't affect the users funds.
As much as you are right about centralize exchanges but they seems to be the favourite for the large majority of crypto enthusiast, the number of users in any cex can not be compare to that of dex,
Dex are more secure to use but most of them are pain when it comes to their ui and smooth usage especially for those who are still very new in crypto, cex are more user friendly which is the reason why many prefer them, despite their total control over people's funds and the kyc stuff, they are still the most sorted out.
Dex are more secure to use but most of them are pain when it comes to their ui and smooth usage especially for those who are still very new in crypto, cex are more user friendly which is the reason why many prefer them, despite their total control over people's funds and the kyc stuff, they are still the most sorted out.
Every each scenario of hacking, exchanges especially, centralized exchanges are also learning from their mistakes upon having the exploit vulnerable, but later on, they also did their best to develop better security and protection system to support their users, we are always in a pace of development and as long as we see that these exchanges are doing their best as well to further enhance their system, losing trust to them will just take away the profit that we should have. With this, I highly think that we should also consider putting money or investment that we are willing to lose because it might be sad, but it is true that there's no system that is safe.
centralized control is even against the creation of blockchain which supposedly meant to be decentralized in nature. Not your key, not your money still rule here as long the operation is still being controlled from one central location. Crypto will mature and all these things will be a thing of the past
i think big or small, popular or never-heard, dex or cex, you should not really trust your coins and tokens to be stored within their system. hackers will try and try to access funds from any type of exchange. very few exchanges can return funds to their clients if in case they get hacked. and i think, BNB is one good example that even if hackers managed to take huge chunk of bitcoins, their customers didn't have to worry that they will not get their coins back. softwares are getting sophisticated and those security levels can be breached anytime especially for those who know how to crack high level security systems. it is only a matter of time when they will have full access to the exchange. so one thing to make sure your coins are safe, store it in your own offline/hardware wallet and have your computer tight firewalls from potential hackers roaming around the cyberspace.
from the start, centralized exchange was a problem with the security of their wallets. even though they say it's safe, it's nothing more than lies. Vitalik Butterin once said the safest exchange was Dex, while he hated centralized exchange. it's full of lies and deception.
but there is a good side to CEX, which at this time we still need real money. Cex can convert it directly. but Dex can't. this is why people still use CEX, they are closer to what we want.
but there is a good side to CEX, which at this time we still need real money. Cex can convert it directly. but Dex can't. this is why people still use CEX, they are closer to what we want.
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.
Well i understand your pain and frustration but you are now adding some of the performing cryptocurrency exchanges into the same pot. Remember, Binance is the only exchange that i heard reimbursed its customers of that huge number of bitcoins that was stolen. One thing that you also got wrong is that not only centralized exchanges but you should simply not save your funds on exchanges. I don't know most people still feel safe in saving their funds on exchanges. \
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.
That's the weakness of centralized exchange, we don't have full access to our own assets, because all user assets are fully controlled by them. I personally never long to store assets in a centralized exchange, if the goal has been fulfilled, then I immediately withdraw assets and this is always done in every trade.
I still hope that DEX will soon be born which can be a solution to the problems often occur in centralized exchange at this time.
Dex has bought all of the solution to the centralized exchange site's problem but the fact that the implementation for the new features will be much more easy when it comes to the centralized exchange site. The problem is how to attract the traders to use the DEX. This is an old problem that never gets fixed even various dex has been doing a lot of the marketing. I still hope that DEX will soon be born which can be a solution to the problems often occur in centralized exchange at this time.
It looks like people is much more easy to control their money on the trusted cex the bad cex should be included on the exception.
i havent seen alot of dex promoting thier exchange but i have seen some cex promote thier exchange and they can easily became popular but there are popular dexes like binance dex and etherdelta that still gains a massive costumers . its just that cex exchange like binance ( orginal ) are the ones that is the king when it comes to exchanges . idk why but maybe cex have some advantage that cant be found on a dex type exchange and users are willing to face risk just to experience that .
That's the weakness of centralized exchange, we don't have full access to our own assets, because all user assets are fully controlled by them. I personally never long to store assets in a centralized exchange, if the goal has been fulfilled, then I immediately withdraw assets and this is always done in every trade.
I still hope that DEX will soon be born which can be a solution to the problems often occur in centralized exchange at this time.
Dex has bought all of the solution to the centralized exchange site's problem but the fact that the implementation for the new features will be much more easy when it comes to the centralized exchange site. The problem is how to attract the traders to use the DEX. This is an old problem that never gets fixed even various dex has been doing a lot of the marketing. I still hope that DEX will soon be born which can be a solution to the problems often occur in centralized exchange at this time.
It looks like people is much more easy to control their money on the trusted cex the bad cex should be included on the exception.
But having to use a reputable exchanges is so much better and we will feel safer, even though they might be hacked or things. What have happened with binance and some other exchanges, surely, it was really unfortunate for them and their users. I keep telling myself, If I want my money safe, then I won't store them on an exchanges. Especially if I have quite the assets on my hands. But, Binance gave back the users funds with using their own funds, iirc.
And I haven't heard any good words about BCNEX so far. Which was kinda controversial for the last few weeks. People keep talking about them, not in a good way, it seems.
No matter how popular one exchange can be, it doesn't mean that they're 100% safe and cannot be hacked or things.
And I haven't heard any good words about BCNEX so far. Which was kinda controversial for the last few weeks. People keep talking about them, not in a good way, it seems.
No matter how popular one exchange can be, it doesn't mean that they're 100% safe and cannot be hacked or things.
something that is centralized is not good for crypto, because centralized control can actually cause FUD or even hacked as it had before. centralized coins also suffer the same fate, although not about hacked or fraud, centralized coins show less signi fi cant strength compared to decentralized coins.
you can not have full decentralization..
some centralizaton points are good for growth and evolvement of the crypto space
also custodian services and exchanges are the ones who make the ecosystem go forward more than anything!
something that is centralized is not good for crypto, because centralized control can actually cause FUD or even hacked as it had before. centralized coins also suffer the same fate, although not about hacked or fraud, centralized coins show less signi fi cant strength compared to decentralized coins.
Yes its always advisable to not store for long our crypto assets in centralised exchanges even if they claim that they had the best security features available. There are a lot of CEX’s that are compromised or faulty, that could’ve already served a lesson.
You can still use exchange but for storing it for long is not advisable , it is more secured to stay it in your own wallet if you dont need to trade your coins just stay it in your wallet. Also always update the feedback of the exchange before going to trade so before you will use it you will have aIdea that there are no problems and its still safe to use.
well it depends
i feel comfortable to hold coins on centralized exchanges if they have insurance like Binance had..
i feel comfortable to hold coins on centralized exchanges if they have insurance like Binance had..
Yes its always advisable to not store for long our crypto assets in centralised exchanges even if they claim that they had the best security features available. There are a lot of CEX’s that are compromised or faulty, that could’ve already served a lesson.
Better not to trust a centralized exchange and also it happens they are hacked. This is why I never store my coins in an exchange because of low security and not safe to store all coins. Even a popular exchange it's not trusted so as a user we should protect our asset. I admit I use to trade buying and selling coins but for storing I never do that. I just transfer it to a hardware wallet for security purposes.
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