I don’t trust centralised exchanges thats why as much as possible I don’t store big amounts to them. The risk of putting money in centralised exchanges is very high, we know how vulnerable they are in terms of security. Sometimes the problem of loss funds is not the exchanges fault, some are users neglect in securing their accounts.
Because in the first place, it is not advisable to store funds for very long to any exchanges either if that is a centralized or decentralized exchange if we want to keep our fund safe. Everything that we stored online is prone to hacking and that we need to be careful using them that is why we have to choose those who are already known exchanges.
Topic: Do you trust centralized exchanges? - page 10. (Read 1955 times)
All Centralized exchanges have their ways of making money, that can not be denied but few of these centralized exchanges still cares for their customers, it's why I like and prefer binance exchange more than other top exchanges in crypto space, their customer service is top notch
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
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
You cannot avoid trading in a centralized exchange if the coins that you are holding or interested to invest are only trading in a centralized exchange, I still trust centralized exchange but only those centralized exchange with good reputation in the industry like Binance, Kucoin MXC you can be sure that if there are problem in their trading platform they will see to it that they are going to protect their trader's interest.
Always follow experts advice not to keep majority of your funds in the exchange.
I have been stolen by centralised exchange omce and lost my money $5000. After that i will never trust centralised exchange anymore, i mean here i will never Hodl my coin in exchange. Maybe i will trade for a while but after trading i will withdraw my coin in to my ledger wallet.
That’s advisable, don’t hold too much on exchanges because you might lose it since you don’t have control over your money. I don’t know what happened to your funds on CEX but its too unfortunate. The owner of that turkish exchange might no plan of turning the site back, this could be a big scam if ever and it can ruin the trust of the public to CEX, this could be prevented at all cost. Even if you’re dealing with Binance, don’t over confident because bad things can still happen,
I don’t trust centralised exchanges thats why as much as possible I don’t store big amounts to them. The risk of putting money in centralised exchanges is very high, we know how vulnerable they are in terms of security. Sometimes the problem of loss funds is not the exchanges fault, some are users neglect in securing their accounts.
Because in the first place, it is not advisable to store funds for very long to any exchanges either if that is a centralized or decentralized exchange if we want to keep our fund safe. Everything that we stored online is prone to hacking and that we need to be careful using them that is why we have to choose those who are already known exchanges.
I don’t trust centralised exchanges thats why as much as possible I don’t store big amounts to them. The risk of putting money in centralised exchanges is very high, we know how vulnerable they are in terms of security. Sometimes the problem of loss funds is not the exchanges fault, some are users neglect in securing their accounts.
I have been stolen by centralised exchange omce and lost my money $5000. After that i will never trust centralised exchange anymore, i mean here i will never Hodl my coin in exchange. Maybe i will trade for a while but after trading i will withdraw my coin in to my ledger wallet.
There are only a handful of centralized exchange that I trust. The truth is that most centralised exchange should not be trusted and that explains why its never a wise idea to hold substantial amounts of cryptocurrency assets on centralised exchange. The major reason why I could trust a centralised exchange is because they're global exchange with long term existence.
Whenever New Biden Tax law is approved I guess many of the traders will just go to the DEX and swapping sites later and these centralized exchanges will likely have few traders that government can tax. CEX will find it not worth holding and not allowing users to withdraw funds when there's just $1000 in their account.
The volume in DEX are gradually increasing, we can all see sometimes it reaches up to 3B already.
The Turkish news about a possible scam exit of the crypto exchanges is alarming but still I have to trust CEX because that’s my trading platform and I have to deal with the best CEX to ensure the safety of my wallet, Binance made this possible.
Whenever New Biden Tax law is approved I guess many of the traders will just go to the DEX and swapping sites later and these centralized exchanges will likely have few traders that government can tax. CEX will find it not worth holding and not allowing users to withdraw funds when there's just $1000 in their account.
The volume in DEX are gradually increasing, we can all see sometimes it reaches up to 3B already.
There’s still a lot of good exchange in the market but of course it is still not advisable to put huge money on a wallet that you don’t control and CEX are too strict, so if you violate their ToS your money might be put on a big risk.
Every traders have their own CEX account here, and most of them knows the risk of trusting too much on CEX, some trader they buy and withdraw the token to their wallet just to be sure, i also prefer to use local exchange because their ToS is applicable to my country.
Every traders have their own CEX account here, and most of them knows the risk of trusting too much on CEX, some trader they buy and withdraw the token to their wallet just to be sure, i also prefer to use local exchange because their ToS is applicable to my country.
its best to limit your trust on any exchange and let your coins be in your custody. anything can help to the exchange or the owners which there wont be a remedy. i think the problem with many traders is because there funds are low thats why it dosent bother them. whales and any serious trader dont joke with this kinds of things.
Good point, because of the amount that is not too big many traders are trusting their money on centralized exchange.
But even if it is a small amount, it is still very painful for us if we lose our money so we better find some ways to be able to control our coins and at the same time we could transfer it instantly to centralized exchange whenever we need the fiat.
Not your keys, not your coins, we should always put this in mind.
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
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
While all CEX-es have the same concern, and that is THEM holing your money (not your keys, not your crypto) you have to factor in the recent Turkish ban on crypto.
I'm not defending the guy by any means, but it could have had an impact in his immoral decision
a recent issue with one of the exchanges might lower my trust in CEX. but even so I realized CEX was still needed. I have no other way to withdraw to FIAT other than using CEX. So there's nothing I can do but believe and hope that the exchange I use can be trusted.
its best to limit your trust on any exchange and let your coins be in your custody. anything can help to the exchange or the owners which there wont be a remedy. i think the problem with many traders is because there funds are low thats why it dosent bother them. whales and any serious trader dont joke with this kinds of things.
I trust the centralized Exchanges as much as I trust the beggars on the street. Think for yourself, you are assuring your funds to a third party, for which the cornfields are also responsible. Therefore, you run the risk that this third party may somehow lose your money, and you will not be able to do anything about it. And the exchange can lose money for completely different reasons. Such as Hacking or regulatory intervention and so on. You can trust the exchanges, but not for long because too many things do not depend on them.
I don’t trust centralized exchange not only me, i think every sensible users don’t fully trust those exchanges. But most of the users do trade in the CEX due to high liquidity and less cost. If i trust any CEX which is Binance, i think there are no big risk with your money from other CEX because they have Safu fund which is used for lost recovery for the customers.
No matter centralized exchanges or decentralized exchanges,i dont turst,i just trust myself. But on the other hand, i have to trade on exchanges, and that is centralized exchanges, because comparing to decentralized exchanges, imo centralized exchanges is more easy to operate and sell.
Well, you do have to trust 2 things at the very least. One is the Bitcoin network or the network of the blockchain you're using. I personally only trust Bitcoin, maybe also ETH to a certain extent, maybe also some alts like Monero and Litecoin.
But you also need to trust the wallet client you use;)
So if you trade at min you have to trust 3 things (the platform, regardless of CEX or DEX).
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
For Cex I just go to do everything with Binance and Huobi. I live in Southeast Asia. Everything is very familiar, professional and has a very good link to support my community. I am not interested in other CEXs as they are still the most reputable, reputable and reliable exchanges. 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
If with Dex, UNI (ETH) and Pancake (BSC). Also, I'm quite interested and really seriously watch Sov. If SoVryn becomes the first defi - Dex exchange for the best bitcoin, I will definitely join it!
https://live.sovryn.app/trade
I feel the same. Although it may sound stupid not trusting something legit and governed by law, I cannot help but feel more distrust specially now when this industry is getting more and more known widely all throughout the world. My reason is because these type of exchanges are prone to manipulation or abuse by the government or banks. What if they suddenly decide to ban crypto all of a sudden? I then pity those who have their names confirmed to he connected to crypto. They will aurely have problems. Even if it's just huge taxing for crypto currency gains, it still isn't that good of a position for anyone.
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