Topic: Do you trust centralized exchanges? - page 4. (Read 2036 times)
Top centralised exchanges have something they care about (REP) that's why it's easier to trust them, it takes more than dedication and hard work to get to that position and they will do anything to keep it that way, top centralised exchanges is what I trust not just any centralised exchanges
Some of us have some information about the centralized "Hotbit" exchange. This is the main problem of centralized exchange. Another problem is fake volume with liquidity. You can't buy any top altcoins without Binance, even with high volume. I can only avoid transaction costs. Centralized exchange should develop more to control our funds where we have more freedom.
Central exchange's is no were to be trusted because since years now we have been practicing am exchange with centralized platforms such as different banks but no profit, no development or new innovation in centralized platforms, now since we have started using decentralized exchange's no problem and everyone is mindful using anything, so i prefer decentralized than centralized platforms.
I trust centralized exchanges more than decentralized ones as long as they are one of the most credible exchanges (e.g. Binance). I trust them because you can't find scam projects easily. Being listed on Binance for example is not an easy thing to achieve for all of the projects exist in the market. But you can see many scam projects in decentralized exchanges. And it's really a big threat for the investors.
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
If you are talking about this exchange you had posted the link in the above, my answer is I do not know about that Bitcoin exchange anyway.
Aside from that, not all centralized exchange are all the same like what you are thinking, because I had been using centralized exchange for a couple of years now and so far so good. Maybe because that is depending in the track record it has in the market just like Binance, were it was one of the top and popular exchange nowadays in the market I think if I am not mistaken anyway. Just always be cautious just like the experts did here.
I used to think that DEX would be better than CEX but the only thing that DEX did better so far is security to atleast some extent, but how about transaction fee? DEX have the highest fee and this is a big left down, also DEX still lacks better volumes too, till this day CEX still wins in more areas than DEX
That was to be expected, after all a centralized exchange can more easily administrate their operations and offer better prices and fees, however the fact the security is better in a DEX is really an important feature that cannot be underestimated, the fact that hackers can steal your coins easily from a centralized exchange in a massive hack is something to be worried about, but with DEXs which allows you to control your private keys from which they have no access this kind of hack becomes impossible to do and you can only lose your coins because of you own mistakes and that is invaluable. 
I really believe in centralized exchanges such as Binance, Kucoin, OKEX etc. but I have never heard of a local Turkish exchange like you mentioned, maybe my knowledge is not that much about the latest exchange, but my advice is not to put all your assets on one exchange
Even you should not fully trust Binance, Kucoin or other trusted exchanges because they can seize our funds anytime for any reason and we have no control on our funds. Often we see the binance servers unable to handle traffic in extreme volatile times when bitcoin is dumping or pumping. We need more decentralized platforms like uniswap with low fee.
The only centralized exchange that I trust is Binance, because it is the best exchange and it is very reliable. But still I don't store my cryptocurrency on Binance because anything can happen at any time. I store my cryptocurrency coins on my personal wallet that I have control over.
I believe in some of the top level centralized exchanges like Binance, Kucoin, Bithumb global etc. In these exchanges I held my money and never had any problems. There is no opportunity to place an order on decentralized exchanges. As a result, I always have to keep an eye on the market to see when it reaches my expected price.
In fact, we have no choice, we must trust the centralized exchanges, but in the future I hope we will get rid of them, at least from trading and holding on the exchanges. I want all cryptocurrencies to be on pancakeswap and uniswap and other similar exchanges. So that I can trade without fear of being blocked.
Perhaps, we the choice not to trust them for some reason.Maybe some centralized exchanges could still be trusted but not all of them. But as the number of complaints arises coming from them, the more it gives the reason for the traders not to use them. We are seeking our fund's security and that is why we should be careful in choosing exchanges that we have to use. And since fakes/phishing sites aren't new to us, the more we become vigilant on the market.
NOPE BUT ALSO WE DONT HAVE PROPER DEX
To be honest I trust centralized exchanges which have a good reputation because centralized exchanges have high liquidity but of course using a centralized exchange is just enough to deposit, trade, withdraw and never save funds there so that I can reduce the possibility of losing funds
I only like and respect centralized exchange with good reputation but I don't think it fair for anyone to totally trust centralized exchange cause all of them are guilty of fake volume and liquidity at some point.I guess you dont understand that the possible chance of losing funds was one of the reasons why you don't have to trust a centralized
In fact, we have no choice, we must trust the centralized exchanges, but in the future I hope we will get rid of them, at least from trading and holding on the exchanges. I want all cryptocurrencies to be on pancakeswap and uniswap and other similar exchanges. So that I can trade without fear of being blocked.
I really believe in centralized exchanges such as Binance, Kucoin, OKEX etc. but I have never heard of a local Turkish exchange like you mentioned, maybe my knowledge is not that much about the latest exchange, but my advice is not to put all your assets on one exchange
For most digital currency investors, centralized cryptocurrency exchanges are one of the most important facilities for transactions. Centrale centralized exchange is an online platform used to buy and sell Cryptocurrency. They are the most common ways that investors use to buy and sell Cryptocurrency ownership.
Some investors may consider the concept of "centralized" exchanges rather misleading, because the digital currency itself is often referred to as "decentralized". What does this type of exchange mean to be "centralized", and why this exchange is very important to believe the overall Cryptocurrency industry?
Some investors may consider the concept of "centralized" exchanges rather misleading, because the digital currency itself is often referred to as "decentralized". What does this type of exchange mean to be "centralized", and why this exchange is very important to believe the overall Cryptocurrency industry?
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
We never use the exchanges you mentioned. But speaking of centralized exchanges, most of the exchanges I use are centralized exchanges, including Binance. In this case, I think the problem is not centralized or decentralized exchange. However, it depends on the developer of the platform. Apart from trust in the owner, the security level of exchange is also the main thing.
of course why not, just because there are exchanges that commit fraud does not mean all cex is bad, you can still make transactions or save your money in big cexs such as binance, okex, huobi and others.
Everything has a risk you cannot completely avoid it.
Everything has a risk you cannot completely avoid it.
This is why I don't for any reason leave my money on centralized exchanges, I only deposit money when am ready to sell and also withdraw my money immediately I sell or buy a coin, if am not ready to sell the coins. If I talk about a non-custodial wallet Coinbase, it's the worst experience. I was using Coinbase since 2016 and last year they locked my account for an unknown reason. I contacted them but they never reply. Worst customer service from them. My fund still there, may be locked forever.
We don't have decentralized commercial center with sufficient liquidity to exchange as such in incorporated trades so I am not leaving any assets iut there under any circumstance, simply store exchange pull out with very little of holding up time so I can lessen the odds of losing reserves.
Yes. I believe even though I last read there was a case where one of the owners of the exchange took off his customers' money. The most important thing is that we can be selective in choosing an exchange and don't choose arbitrarily because until now the exchange I have used has no problem. But if you are having trouble on one of the exchanges if it is reliable it should be resolved
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