What Inspired Me To Invest In Bitcoin.

[jeraldskie11]

However while choosing the CEX we need to be careful finding the right one and using it, getting into the untrusted platforms gonna make the user suffer.

Because there are so many crypto exchanges developing today, it is vital to do a research of the exchange before utilizing it. You should avoid not only CEX with unfavorable evaluations, but also new exchanges. Most new ones offer specials or incentives to attract new users, so we must be cautious. If you do, start with a tiny sum of money.

Binance is the finest CEX for me, despite the fact that there have been numerous accusations leveled against it, and I have never seen their users assets compromised. They also have excellent customer service, which is essential in this platform.

[Blitzboy]

Well almost everything you said is true like Bitcoin is an asset that has a good potential especially in the long term. And the fact that you could control your own assets as if it will rely on your hands for your every call in the market. But let's not sugar coat and be biased in Bitcoin, it's actually convenient as you could transfer and do transaction worldwide by just having the internet via Bitcoin. But some transactions can also be slow or having traffic due to many people are having a transaction at the same, which could be bad thing if you're converting funds into fiat in case of emergency. And also don't forget it's volatility that also involve risk if people are not aware from it, which I don't blame Bitcoin but the user already.

When they learn that bitcoin should be a long-term investment, most beginners are always have questions and keep wondering when the bull run will begin. Trying to persuade people to invest by pointing up the assets' potential. There is nothing more fascinating than observing how you manage your money. There are many benefits involved associated with investing in bitcoin, including the ability to save money while still expecting a profit and having a lightning network and the ability to transmit assets anywhere at any moment for such fascinating futures comes with its own set of price and scam risks. Mempool issues  are not always frequent so still preferable. However, when it does, it is a huge disadvantage, similar to what you said about having an emergency, but even then, there is still a significant investment to be made.

Bitcoin beginners often experience a rollercoaster. Understand Bitcoin and its dynamics is like cracking a changing code. Many believe this is a get-rich-quick gimmick, but it's much more. What gets us hooked on Bitcoin is its intriguing potential, right?

My concern is that if we focus too much on Bitcoin's potential, we may ignore its genuine value. You mentioned the lightning network? Changing the game. It has drawbacks like the mempool issue you mentioned. When transactions stall, people panic. Like forgetting the cake at a surprise party!

Much remains to learn and acquire. Lets be careful, knowledgeable, and patient. Whos committed?

[DanWalker]

But if you value privacy, you should use DEX from the beginning, don't try CEX without KYC, sometimes there will be unpredictable problems, IMO.

I have been using CEXs without KYC for 7 years and have not experienced any problems. DEXs are not the best solution for everyone because they are very expensive in fees, do not support the right assets and networks, and have poor liquidity. I will switch to DEXs when one token to another is as cheap and hassle-free as on CEX, but until this happens, DEXs is not anything particularly unique that makes it worth abandoning CEX completely. 99% of the problems that arise due to working with CEXs are created by the users themselves. Whether this is the fault of the services themselves is a big question.

As I know, most CEXs require KYC before we can use them. Only a few do not require KYC but some features will be limited and withdrawal amounts will also be limited. I am not saying that DEX is superior to CEX, DEX does not have full functionality and has many shortcomings such as fees or liquidity that you mentioned. That is why to date investors and day traders still choose CEX over DEX despite collapses like Mt.Gox or FTX. But if someone is just a pure bitcoin holder and cares about privacy then DEX is the perfect choice for them.

[Btc_1856]

But if you value privacy, you should use DEX from the beginning, don't try CEX without KYC, sometimes there will be unpredictable problems, IMO.

I have been using CEXs without KYC for 7 years and have not experienced any problems. DEXs are not the best solution for everyone because they are very expensive in fees, do not support the right assets and networks, and have poor liquidity. I will switch to DEXs when one token to another is as cheap and hassle-free as on CEX, but until this happens, DEXs is not anything particularly unique that makes it worth abandoning CEX completely. 99% of the problems that arise due to working with CEXs are created by the users themselves. Whether this is the fault of the services themselves is a big question.

Being the early user it could've been possible. Right now it is really hard to make use of CEX without KYC. For the users who doesn't want to fulfill KYC, they could prefer DEX. With CEX things were going good and provides good liquidity. Majority of the problem happens with the careless of the user. Having a double check will keep everything functional without error. However while choosing the CEX we need to be careful finding the right one and using it, getting into the untrusted platforms gonna make the user suffer.

Using CEX without KYC will become more difficult as government cryptocurrency regulations are finalized and enacted, so the idea of using CEX without KYC will no longer be viable. But the role and importance of CEX in the market cannot be denied, I believe that even if the government tightens KYC, many people will still use CEX and not DEX. I agree with Ratimov, there are too many inadequacies in DEX and it will not be resolved overnight.

[|MINER|]

Yes you are right. Bitcoin is very trustworthy.  It is very safe for investment.  If someone wants to invest for long term then it is best for him. Not only just long term how can do technical analysis they can also trade in short term. Bitcoin's network transaction is very smooth which you are we can never saw on others blockchain coins. It doesn't require much knowledge to make transactions or investments but only if you know some fundamentals so can do its transaction from anywhere in the world.  Bitcoin is a resource from which money keeps increasing day by day.

[justdimin]

As I know, most CEXs require KYC before we can use them. Only a few do not require KYC but some features will be limited and withdrawal amounts will also be limited. I am not saying that DEX is superior to CEX, DEX does not have full functionality and has many shortcomings such as fees or liquidity that you mentioned. That is why to date investors and day traders still choose CEX over DEX despite collapses like Mt.Gox or FTX. But if someone is just a pure bitcoin holder and cares about privacy then DEX is the perfect choice for them.

I think the ones that do not require KYC is even worse trouble. I have talked about this before, all governments require you to ask for KYC if you run an exchange, if an exchange doesn't ask it then they are not responding to government demands and that's even worse. People like to label places like that as "rebel" and promote them but the reality is that government is not "always" bad, sometimes it works for you and should be something that benefits you one way or another.

I believe that we are going to end up with something that should be giving you the time you deserve but that doesn't mean that you are going to end up with a greater return if you know what you are doing. The best thing to do in this case would be making sure that you are not going to end up with a bad result.