Topic: Do you trust centralized exchanges? - page 7. (Read 1973 times)
Decentralized and decentralized exchanges have certain risks. If we are a trader start with large exchanges to cover the risks. I believe crash events like Btc-e or Mtgox will not happen again. If you want reassurance to go to coinbase pro, which is a very large crypto exchange in the US and their company is stock-listed.
It's a shame if an exchange suddenly stops trading, surely traders and investors who hold their assets in it are very rowdy right now, for a moment it crossed my mind, what would happen if a well-known exchange like Binance suddenly stopped trading too? 
This is categorized as the biggest risk for cryptocurrency traders and investors.
its why we must keep our crypto asset in our own wallet , not in exchanges. it avoid big risk when market suddenly stop by regulator or maybe hacked. many times we heard customers loss their money due exchanges stop operation due variuos reason. i could not imagine the effect when binance stop operation , market will totally bloody. This is categorized as the biggest risk for cryptocurrency traders and investors.
In as much as we can't trust centralized exchanges but what choice do we have when most top coins or good coins are listed there. At least we can trust some centralized exchanges to offer a good trading platform but however when it comes to keeping funds private wallets seems to be the best way out.
In the same way, most centralized exchanges has grown to the extent that people now trust them without doubt, exchanges such as Binance. In my own personal opinion, you can only trust an exchange to trade on it but not to keep your funds, at the same time, it is not all exchanges that one should trade on as most have bad reputations already. Let's not be driven by whatever most of these exchanges claims, personal wallets should be the best way to go.
In the same way, most centralized exchanges has grown to the extent that people now trust them without doubt, exchanges such as Binance. In my own personal opinion, you can only trust an exchange to trade on it but not to keep your funds, at the same time, it is not all exchanges that one should trade on as most have bad reputations already. Let's not be driven by whatever most of these exchanges claims, personal wallets should be the best way to go.
i have some balance on centralized exchanges, such as kucoin and binance. these exchanges was popular with their fund insurance while customer's balance hacked it could recover immediately. binance has safu and kucoin has insurance. so personally i am trust with binance and kucoin , so far their services make me satisfied.
of course I believe in several centralized exchanges, but I hesitate to believe in Turkish centralized exchanges as you mentioned, if you still want to trade there, of course it doesn't matter, the most important thing is not to keep your assets there too long, because usually small exchanges are very easy to hacked, so it's better after you trade, you should immediately withdraw it to your wallet
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
Maybe it was a local Exchange and one thing I believe from the very beginning of my crypto life that don't store all the funds into one wallet. It can be hacked or something wrong can be happened then my funds can be lost due to that. Even in trading, don't buy any token or coin by using your full assets. Because your strategy can be wrong or market can be changed anytime. That's the reason why I use more than one wallet. 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
Storing your cryptocurrencies in centralized exchanges defeats the major purpose of creation of crypto, which is to give you control over your funds. Do not ever store your crypto coins/tokens in exchanges no matter how good they are because no centralized exchange is immune to hack or attack and you money will vanish with it.
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
it looks bad. Before deciding to join a centralized exchange, you should check whether the exchange is officially registered with your country's financial institution. if it is officially registered, there must be binding rules that can certainly protect your assets from irresponsible exchange fraud. I often use cex to withdraw fiat, and it is the easiest way because I can immediately withdraw it to my bank account. 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
Of course I believe and trust centralized exchanges but not sure about decentralized exchanges. Decentralized exchange uniswap need more Ethereum network fees to approve and swap assets. But Centralized exchanges cut one time fees only withdrawal.
Yes. I believe with the note that the exchange has a good level of security and also a lot of users. because people who put money on high security exchanges still they feel money is safe.
an example is the Binance exchange which is currently an option because many people are interested in using it. In addition to security, the staking feature certainly makes holders like this
an example is the Binance exchange which is currently an option because many people are interested in using it. In addition to security, the staking feature certainly makes holders like this
That's another thing, most traders would just want to use the platform to trade, therefore, they are just after of the security of the exchange and thus far, Binance is the most popular but not the most secured since it was hack years back, good thing they have enough funds to cover the loses.
Big exchanges have big profit, hence their interest to operate is high, which means the likelihood of scamming traders and investors are low, but there's still risk, you just need to manage the risk effective by not putting all your money in a single exchange.
I trust centralised exchange more than decentralized exchange because if something goes wrong centralised exchange will be responsible for the loss but on decentralized exchange it's a whole new story, the fact its stay away from centralised exchange that are new, you can only trust top centralised exchange like binance or kucoin or gate.io
I do not recommend dedicating the bias to decentralized exchanges, but looking at the growing volume of UNI, Bake a very clear trend. I myself am still active on Cex, namely Binance, Huobi, Kucoin ... Although, loss never happened to me. But not for sure, I split my account across all 3 exchanges and didn't ditch all of them at once. And I believe Dex will be the future of exchanges ... The next Vebitcoin incident has reduced confidence in Cex. After that, it will become more and more severe. 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
The crash of the Turkish exchange, though, ripped apart, adding to the loss for everyone.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 still think, We need a cex to make sure some asset support is still being held for us with other security related issues. To be fair, Cex is the link that connects communities around the world to bitcoin and crypto. The abuse of Thodex, Vebitcoin will make the community wake up and they come to dex like Uni, Bake, Apeswap, as a matter of fact. It will be a very strong future trend.
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
Keeping money in your own cold wallet is the safest way to store your data offline or a hot trusted wallet better suited for a particular purpose like decentralized exchanges trading. On centralized exchanges you should have only the amount that you want to trade.
Good advice, yes i agree with you. We should store our coin in centralized exchanges just for trading.
Holding for long time using centralized exchange wallet is a bad idea because we will never know what will be happened there.
Im only trust top CEX such as Binance, and my local exchange, other that those, Okex or Kucoin are the alternative.
No one and nothing can promise you the full security for your resources. The danger is truly might be high and pointless. Furthermore, a large portion of the instruments that are accessible on CEX are missing on decentralized trades. This is the chance of utilizing edge exchanging, fates and such rudimentary ones as stop misfortune.
I trust centralised exchange more than decentralized exchange because if something goes wrong centralised exchange will be responsible for the loss but on decentralized exchange it's a whole new story, the fact its stay away from centralised exchange that are new, you can only trust top centralised exchange like binance or kucoin or gate.io
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
I think our belief in exchange is not based on centralization or decentralization. Binance is a centralized exchange, and it's the top choice for crypto users to trade. We trust this exchange. Although there are other exchanges that stop and money gets caught up in it. That is, trust depends on the owner of the exchange in managing it. Will they do well in the long term? or they want to get instant profit by tricking members?
Yeah, centralized exchanges shouldnt be trusted most especially the not so popular ones, exchanges like binance, kucoin, coinbase to my understanding have all stood the test of time and this are the kind of exchanges I have little trust for, every other exchanges that are not so popular I personally have great fear for, 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, then its better its on my wallet, this is why the saying goes, not your keys, not your crypto, I've learnt the hard way from cryptopia.
That's the point. Any centralized exchanges can compromise at any time and who can dare take the risk with our hard earned money. Cryptopia, Livecoin once regarded popular centralized exchanges but they all toke our money in the name of HACK! It's necessary to connect with centralized exchanges because not every coins/tokens listed on decentralized exchanges, where we should take the necessary caution. 
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
The obvious answer is no, if you want to make a trade I get that but there is no reason to let your coins on the exchange for long, deposit your coins, make your trade and then get your coins out of the exchange, rinse and repeat as much as you need to, exchanges do not like this as you are not leaving your coins with them and they think there is something you want to hide, but this is simply to avoid scenarios like the one you are describing which unfortunately are very common. 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
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