Topic: Do you trust centralized exchanges? - page 5. (Read 1973 times)
Why not , Centralized exchanges is the best online platforms where we can easily exchange our digital currency into Bitcoin, Ethereum and USDT. Binance exchange is the number one priority centralized exchange and most of the people believe Binance at their trading and investing plafrorm.
yes of course I trust centralized exchanges, but the one with a good reputation, actually I don't use exchanges too much, the exchanges I use are Binance and Indodax, and I have never had any problems until now with these exchanges
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
I'm a victim of hacking before. It was on my DEX wallet. There's no one I can ask for help, so I didn't have the chance to get back my money. And just last year, Kucoin was hacked by some skilled hackers, unfortunately, one of held coins were also affected. They suspended the deposit and withdrawals of all the coins affected, then no money was taken from me on that incident because of Kucoin's quick response.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
I trust CEX, what I don't trust is your CEX. If you want to feel safe, trade on very popular CEXes and be wary on those newly developed ones.
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
We know the problem of centralized exchange and wallet. We know the popularity of coinbase wallet and Binance exchange, where you can't compare to decentralized wallet or exchange. Although now trust wallet is very popular, it belongs to Binance exchange. Especially low volume and new exchanges are very risky to hold altcoins. 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
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
With CEXs you never know. Even when MT Gox happened until today you do not really know what happened. Was it really a hack? Or just plain laziness and neglect from the staff? Or in the case of Quadriga, did they really lose keys when founder died or did they use it as an excuse to steal funds? It is so hard to tell with these guys. Trust is easy to earn in this space and so hard to keep.
Of the many lists of centralized exchanges I currently use, only a few. I avoided some because of some cases that happened and also got a bad reputation on this forum.
selection of an exchange is the most important thing so that you avoid unclear exchanges that will harm you. right now I still use Binance for a trusted exchange because the trust is pretty good
selection of an exchange is the most important thing so that you avoid unclear exchanges that will harm you. right now I still use Binance for a trusted exchange because the trust is pretty good
centralized exchange? of course I believe it, and I also use CEX as a daily trading and storing crypto assets there,
yes, because CEX in my country is legal and protected, of course this will guarantee the safety of users and investors and even traders,
but keep in mind if you are different countries and use CEX is not in your own country so you have to be careful
yes, because CEX in my country is legal and protected, of course this will guarantee the safety of users and investors and even traders,
but keep in mind if you are different countries and use CEX is not in your own country so you have to be careful
Well i don't trust much centralized exchange excluding some big exchange like binance, kucoin and coinbase. This 3 exchange is my most favourite exchange. And the others thing on decentralized exchange which is that therd has not much liquidity to exchange other crypto to others. Which problem i didn't face on binance or kucoin. And the exchange fee in dex like uniswao where we have to pay almost $20-$200+++. Where we do not has to pay that much amount of fee. But yeah truely we have to admit that compared to dex vs cex , dex will be the all time best. Its my opinion others can be different.
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
What is in my mind is, if local exchange collapsed, did people still can come to their place? i mean registered site must have office that people can come, like in my country they have office and what i always think and make me believe to my local exchange is if they collapse people can come or maybe come to the owner and ask for their responsibility. Because although they have disclaimer that trading activity is risky thing, but it is not we lose in trade, they gone with our money and it considered stealing right?
Honestly, I do believe in centralizing exchange, but for the Turkish stock exchange as you said, I don't know anything about this, and I feel doubtful. My advice is if you still believe in the exchange, that's okay, but don't put too much of your money there, keep on monitoring the news about the exchange, and good luck
If now there is an exchange that is truly trusted and safe to use at any time, why use a new exchange with a very high risk, because I personally use that exchange to trade with all the capital I have, so I automatically have to choose the one I have proven safe to use.
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
It depends on what kind of centralized exchange because I only trusted the one that I'm using like Binance because I was using it since 2017 when it was launch and until now it never gives me a problem so far and for the sake of safety precautions I never use those unknown crypto exchange for trading and any other purposes. Be wise by choosing only those trusted crypto exchange platforms.
personally for my trading i am using a combination of decentralized exchanges such as uniswapp and 1inch and only two centralized exchanges that i trust coinbase pro and bitfinex i avoid all the others because i consider them too risky
I wonder when you are different from the others when it comes to choosing an exchange, aren't Binance, Kucoin and Gate easier to use when it comes to trading? and another one for decentralized ones, I prefer Pancakeswap instead of Uniswap which swap fees are still very expensive.
personally for my trading i am using a combination of decentralized exchanges such as uniswapp and 1inch and only two centralized exchanges that i trust coinbase pro and bitfinex i avoid all the others because i consider them too risky
I believe in some cex and avoid the less popular ones.Risk is always there and you can't avoid it 100% just to minimize it, let's say you save money in a bank, or in your personal wallet, you also have the risk of losing that money.
The only problem with cex is it's hackable and sometimes CEO does exit scam (IDAX exchange CEO disappears). In terms of security, the centralized exchange can not match decentralized one but cex provides better service and supports and that is the reason I do trust some reputable cex exchanges and personally use them. Just don't leave your funds in the exchange if you are intended to hold your funds for the long term.
I trust CEX, but only large exchanges like Binance. This exchange may not be a scam like the exchange you mentioned. Apart from that my reason is that the fees on DEX are very expensive.
That's right, I agree with your statement because Binance is really reliable and used by many people, because apart from being a low cost, Binance also has a lot of support that is very helpful for everyone.If we want to use centralized exchanges we have to choose one that is popular and has a good reputation, like Binance is the right choice if
we want to trade safely. There's no way an exchange like Binance will scam or cheat, because Binance definitely wants to keep their good name,
to always be trusted by its users. As long as I use Binance there have been no problems, In conclusion, not all centralized exchanges are bad.
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
We all have seen this news. It was a bad news for crypto platform. Its not mean actually we can't believe the CED exchange. We have seen many scam or hack by Dex as well but we are still using those. Myself still trust on Cex than Dex and really feel secured to use it. 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
I trust any crypto service provider that works better for me, either centralised or decentralized it doesn't matter, we have bad decentralized and centralised exchanges in crypto space so there is no need trying to figure which one is safer or not just don't keep your coins and tokens on any one of these platforms, your assets are more safer in your wallets
I agree, we had issues with centralised and decentralised exchanges in the past. It is difficult to so say with certainty that one type is better than the other. The first step should be to have a secure wallet. The second step should be to not leave to many coins on an exchange. It is better to trust in ourself and our wallets rather than the exchange. There can always be issues in the future that we didn't know about before.
I trust any crypto service provider that works better for me, either centralised or decentralized it doesn't matter, we have bad decentralized and centralised exchanges in crypto space so there is no need trying to figure which one is safer or not just don't keep your coins and tokens on any one of these platforms, your assets are more safer in your wallets
Of course, if your are a trader what you should be looking out for is an exchange with liquidity and last I checked a cex has more liquidity than a dex. And besides this you can trade on multi blockchains with a few clicks other than coins only found on that blockchain.
Another reason to use a cex is some now have insurance so they are responsible should a hack happen unlike a Dex where you're sorely responsible for what ever happens.
I guess I have all the reasons to trust a centralized exchange.
Another reason to use a cex is some now have insurance so they are responsible should a hack happen unlike a Dex where you're sorely responsible for what ever happens.
I guess I have all the reasons to trust a centralized exchange.
Depends on which CEX you are looking at. Some CEXs also just fake the orderbooks as soon as you want to put an order the order disappears when you want to take it. Some CEX like Coinbase do not even display orderbook so you have no idea of liquidity. DEX displays the real amount assuming the smart contract is also valid:)
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