Isn't those centralized exchange are the platform who required the user or traders to submit KYC(know your customer).
For me there's no big deal for me if the exchange is DEX or not, just important is that I earn from their platform via coins
in which I bought it from them.
Topic: Do you trust centralized exchanges? (Read 1955 times)
Recently, I have not been trading on centralized exchanges and have kept as much money there as it’s not a pity to lose
i think it's the right thing to do, they have the ability to lock your coins at anytime and you can't do anything about it, it is pretty scary if it happens to you and you have most of your crypto there, i for sure don't trust them with big bucks, maybe a few like you said. Centralized exchange are just at people's risk, but most of them are to be trusted, but it is better I store my crypto on my wallet than to live it on any centralizer exchange, decentralize exchanges charges less and you are always in control of your crypto.
Comparing the liquidity of centralized exchange and decentralized exchange then you would able to tell the differences which CEX are far way more that on what DEX does have which i do say to be pretty normalsince you can really benefit out on some things like trading fiat to crypto and making out conversion directly which you cant really be able to done on dex which its normal that people or the community would be
hanging out to this place most of the time.
Just remember that you shouldnt store your coin on these platforms for too long because you wouldnt know on when they would be hacked and its just risky for you to consider out on making it as a storage for long time.
We've seen past events and situations about exchange hacks and it ends up for a total wreckage for those people who did deposit on it.
Centralized exchange are just at people's risk, but most of them are to be trusted, but it is better I store my crypto on my wallet than to live it on any centralizer exchange, decentralize exchanges charges less and you are always in control of your crypto.
I think you heard the last news about the Turkish stock exchange:
https://decrypt.co/68703/billion-dollar-rug-pull-turkish-bitcoin-exchange-goes-dark
Customers fear a rug pull as Turkish crypto exchange Thodex abruptly halted trading.
At any time, money can be blocked for an unknown time.
Recently, I have not been trading on centralized exchanges and have kept as much money there as it’s not a pity to lose
No I'm not and only Use centralized exchange when happens that my Coin/token only listed or tradable on that site but if not?https://decrypt.co/68703/billion-dollar-rug-pull-turkish-bitcoin-exchange-goes-dark
Customers fear a rug pull as Turkish crypto exchange Thodex abruptly halted trading.
At any time, money can be blocked for an unknown time.
Recently, I have not been trading on centralized exchanges and have kept as much money there as it’s not a pity to lose
No will never make any trade in this kind .
I'm always for Decentralized exchange eversince i learn crypto investment/trading .
generally, I don't trust centralized exchanges (because they are not very secured) and prefer to use decentralized exchanges. But the major issue i have is that most of these decentralized exchanges don't have much volume and liquidity like the centralized ones.
The big risk in decentralization is when investors take out the liquidity, leaving you with a useless coin but it also happens on centralize exchange, if the coin losses trust from investors there'll be no buy order I also don't trust centralized exchange but it's something that we have to get used to it because how can we trade coins that we invest in if it is only available in centralize exchange.
I think you heard the last news about the Turkish stock exchange:
https://decrypt.co/68703/billion-dollar-rug-pull-turkish-bitcoin-exchange-goes-dark
Customers fear a rug pull as Turkish crypto exchange Thodex abruptly halted trading.
Then there was the next sudden death of the Vebitcoi exchange. It is also within the cycle that the market panics afterwards. Users have refused to send funds to exchanges(CEX). Binance also has some cases but not necessarily risks. I still believe in CEX as a P2p sourcing measure. Dex cannot respond to this until this vulnerability is patched. I think DEX will be the perfect destination for the future of trading.https://decrypt.co/68703/billion-dollar-rug-pull-turkish-bitcoin-exchange-goes-dark
Customers fear a rug pull as Turkish crypto exchange Thodex abruptly halted trading.
The volume of DEX will get bigger and bigger. It will definitely happen.
https://coinmarketcap.com/en/rankings/exchanges/dex/
You have been warned if you are one of those people who follow blindly. Crypto gets bigger and more mainstream, so you have to be concerned about centralized exchanges securities and longevity. Right now, their security is not guaranteed. As a result, I am dividing my portfolio now. It is better to be protected before anything happens.
We can always put our portfolios into a safer vault like hardware wallets and cold storages.It's a different thing from trusting centralized exchanges as we trade crypto to another crypto or fiat.
As long as you don't put all of your eggs on any centralized exchanges and you just use them when it is necessary, that's what it should be.
But the most unfortunate thing is that many think CEX is a safe place to store assets in the long term because they are reluctant to download a wallet or spend extra money to buy a hardware wallet.
I still trust some CEX especially my local exchange because I know the legality of the exchange.
That's the only thing that we can do if you're not a long term holder and you need to put at least some hefty amount on those exchanges.
You have been warned if you are one of those people who follow blindly. Crypto gets bigger and more mainstream, so you have to be concerned about centralized exchanges securities and longevity. Right now, their security is not guaranteed. As a result, I am dividing my portfolio now. It is better to be protected before anything happens.
We can always put our portfolios into a safer vault like hardware wallets and cold storages.It's a different thing from trusting centralized exchanges as we trade crypto to another crypto or fiat.
As long as you don't put all of your eggs on any centralized exchanges and you just use them when it is necessary, that's what it should be.
But the most unfortunate thing is that many think CEX is a safe place to store assets in the long term because they are reluctant to download a wallet or spend extra money to buy a hardware wallet.
I still trust some CEX especially my local exchange because I know the legality of the exchange.
You have been warned if you are one of those people who follow blindly. Crypto gets bigger and more mainstream, so you have to be concerned about centralized exchanges securities and longevity. Right now, their security is not guaranteed. As a result, I am dividing my portfolio now. It is better to be protected before anything happens.
We can always put our portfolios into a safer vault like hardware wallets and cold storages.It's a different thing from trusting centralized exchanges as we trade crypto to another crypto or fiat.
As long as you don't put all of your eggs on any centralized exchanges and you just use them when it is necessary, that's what it should be.
But the most unfortunate thing is that many think CEX is a safe place to store assets in the long term because they are reluctant to download a wallet or spend extra money to buy a hardware wallet.
I still trust some CEX especially my local exchange because I know the legality of the exchange.
Recently, I have not been trading on centralized exchanges and have kept as much money there as it’s not a pity to lose
A single isolated case isn't enough to blanket others in condemnation. Whether Cex or Dex, they're all controlled by the intuition of man. Man isn't perfect and as such we shouldn't expect perfection anywhere. I have heard about tokens getting hacked on Dexs. So, it's not as if Dexs are completely immuned from all that like a lot of people make it look. I trade on Binance from time to time and I haven't had any issues with it. Binance is a Cex and is rated 10 on trust score as the most secured.
You have been warned if you are one of those people who follow blindly. Crypto gets bigger and more mainstream, so you have to be concerned about centralized exchanges securities and longevity. Right now, their security is not guaranteed. As a result, I am dividing my portfolio now. It is better to be protected before anything happens.
We can always put our portfolios into a safer vault like hardware wallets and cold storages.It's a different thing from trusting centralized exchanges as we trade crypto to another crypto or fiat.
As long as you don't put all of your eggs on any centralized exchanges and you just use them when it is necessary, that's what it should be.
then it could still be done or just really only good if you do make out that certain trade then pull it off in one go.
Its just a matter of self choice and its true that as long you dont put all of your assets on centralized exchange then that should be fine.As long you are aware with the risk even how popular or known
the exchange was but dont remove out the probabilities of being hacked or some exit scam or something like that.
We can trust them but not giving out that 100% where you do make them as a long term wallet.
You have been warned if you are one of those people who follow blindly. Crypto gets bigger and more mainstream, so you have to be concerned about centralized exchanges securities and longevity. Right now, their security is not guaranteed. As a result, I am dividing my portfolio now. It is better to be protected before anything happens.
We can always put our portfolios into a safer vault like hardware wallets and cold storages.It's a different thing from trusting centralized exchanges as we trade crypto to another crypto or fiat.
As long as you don't put all of your eggs on any centralized exchanges and you just use them when it is necessary, that's what it should be.
This is a golden rule in investing, everyone should follow it to minimize the risk unless an investor is a real risk-taker and still winning to lose everything he has. If we educate ourselves on the current market situation, it would be easy for us going forward as safeguarding your assets is just part of the basic things you need to do.
You have been warned if you are one of those people who follow blindly. Crypto gets bigger and more mainstream, so you have to be concerned about centralized exchanges securities and longevity. Right now, their security is not guaranteed. As a result, I am dividing my portfolio now. It is better to be protected before anything happens.
We can always put our portfolios into a safer vault like hardware wallets and cold storages.It's a different thing from trusting centralized exchanges as we trade crypto to another crypto or fiat.
As long as you don't put all of your eggs on any centralized exchanges and you just use them when it is necessary, that's what it should be.
This is a golden rule in investing, everyone should follow it to minimize the risk unless an investor is a real risk-taker and still winning to lose everything he has. If we educate ourselves on the current market situation, it would be easy for us going forward as safeguarding your assets is just part of the basic things you need to do.
You have been warned if you are one of those people who follow blindly. Crypto gets bigger and more mainstream, so you have to be concerned about centralized exchanges securities and longevity. Right now, their security is not guaranteed. As a result, I am dividing my portfolio now. It is better to be protected before anything happens.
We can always put our portfolios into a safer vault like hardware wallets and cold storages.It's a different thing from trusting centralized exchanges as we trade crypto to another crypto or fiat.
As long as you don't put all of your eggs on any centralized exchanges and you just use them when it is necessary, that's what it should be.
You have been warned if you are one of those people who follow blindly. Crypto gets bigger and more mainstream, so you have to be concerned about centralized exchanges securities and longevity. Right now, their security is not guaranteed. As a result, I am dividing my portfolio now. It is better to be protected before anything happens.
Choose an exchange that is insured, like a bank, they have insurance so in the event the bank gets robbed, you'll still get your money up to the amount fix by the insurance company, the same treatment should be done if we entrust our money into exchanges, we should diversify it to exchanges as that would help to minimize the risk.
However, if you really like to be fully safe, you should keep it yourself in a hard wallet.
You have been warned if you are one of those people who follow blindly. Crypto gets bigger and more mainstream, so you have to be concerned about centralized exchanges securities and longevity. Right now, their security is not guaranteed. As a result, I am dividing my portfolio now. It is better to be protected before anything happens.
I personally believe in centralized exchanges a lot. Because so far no high-quality exchanger has cheated with customers.
Have you heard about Vebitcoin?Don't expect financial freedom? Do you still wish to lose your sovereignty and integrity?? Lol, I use CEX as a compulsion because no DEX meets the liquidity and volume essentials. Some DEXs, Defi today have first run and many crashes as a hard-to-control item. So I'm watching Sovryn because of Vested and voting rights. I hope they can achieve their desire to satisfy the right of "Financial Freedom" for the crypto world.
generally, I don't trust centralized exchanges (because they are not very secured) and prefer to use decentralized exchanges. But the major issue i have is that most of these decentralized exchanges don't have much volume and liquidity like the centralized ones.
The big risk in decentralization is when investors take out the liquidity, leaving you with a useless coin but it also happens on centralize exchange, if the coin losses trust from investors there'll be no buy order I also don't trust centralized exchange but it's something that we have to get used to it because how can we trade coins that we invest in if it is only available in centralize exchange.
generally, I don't trust centralized exchanges (because they are not very secured) and prefer to use decentralized exchanges. But the major issue i have is that most of these decentralized exchanges don't have much volume and liquidity like the centralized ones.
Centralized exchange for decentralized currency , does it sounds appropriate? of course not lol.Abnd besides this ask KYC in which we all hates as we want to remain anonymous at least in some areas of crypto investing.
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