Deleted due to compromised account

[pikkie]

But with all those hack incidents hitting the largest of cryptocurrency exchanges, the people are still using them more than DEXs. I don't understand why. The volume is not a reason because sooner or later when people are really choosing DEXs over centralized exchanges, the volume will immediately follow. There is really no future with centralized exchanges for me. KYC is one issue. Hacking and stealing of coins and other personal information is another.

some time ago I have experienced the same thing but now I am trying to trade with another method although using a decentralized exchange place I use a special wallet for trading so I will not lose all the assets that I have again, because I have had experience using 1 wallet to trade and save coins and get hacked I suffered a lot of losses.

[crossabdd]

from the start, centralized exchange was a problem with the security of their wallets. even though they say it's safe, it's nothing more than lies. Vitalik Butterin once said the safest exchange was Dex, while he hated centralized exchange. it's full of lies and deception.
but there is a good side to CEX, which at this time we still need real money. Cex can convert it directly. but Dex can't. this is why people still use CEX, they are closer to what we want.

[CaVO32]

i think big or small, popular or never-heard, dex or cex, you should not really trust your coins and tokens to be stored within their system. hackers will try and try to access funds from any type of exchange. very few exchanges can return funds to their clients if in case they get hacked. and i think, BNB is one good example that even if hackers managed to take huge chunk of bitcoins, their customers didn't have to worry that they will not get their coins back. softwares are getting sophisticated and those security levels can be breached anytime especially for those who know how to crack high level security systems. it is only a matter of time when they will have full access to the exchange. so one thing to make sure your coins are safe, store it in your own offline/hardware wallet and have your computer tight firewalls from potential hackers roaming around the cyberspace.

[vicoma]

centralized control is even against the creation of blockchain which supposedly meant to be decentralized in nature. Not your key, not your money still rule here as long the operation is still being controlled from one central location. Crypto will  mature and all these things will be a thing of the past

[Eugenar]

Every each scenario of hacking, exchanges especially, centralized exchanges are also learning from their mistakes upon having the exploit vulnerable, but later on, they also did their best to develop better security and protection system to support their users, we are always in a pace of development and as long as we see that these exchanges are doing their best as well to further enhance their system, losing trust to them will just take away the profit that we should have. With this, I highly think that we should also consider putting money or investment that we are willing to lose because it might be sad, but it is true that there's no system that is safe.

[Anonylz]

As much as you are right about centralize exchanges but they seems to be the favourite for the large majority of crypto enthusiast, the number of users in any cex can not be compare to that of dex,
Dex are more secure to use but most of them are pain  when it comes to their ui and smooth usage especially for those who are still very new in crypto, cex are more user friendly which is the reason why many prefer them, despite their total control over people's funds and the kyc stuff, they are still the most sorted out.

[princecharles]

The centralised exchange is certainly not the best place for storing ones cryptocurrency, and the issue of people loosing their funds to exchange is quite unfortunate. I recall Last year when binance lost 7,000 btc to hackers which is quite a substantial sum, but that didn't affect the users funds.

[Ferris419]

Yes, you are absolutely right! Centralized exchanges are not to be trusted blindly. Anytime you can get compromised or scammed! Though Binance SAFU protected users balance but still binance is not a safe exchange, nor any other centralized! Don't store your coins on a centralized exchange, buy a hardware wallet for it!

I am seeing many threads against BCNEX, I hope everyone can get their withdrawal and get out from this shit exchange!

[boris singer]

BCNEX has not been proven to be a scam, they only manage funds very poorly and process them not automatically for 24 hours. some responsibility was made to cover up their mistakes this month, but in unsatisfactory ways. I assume they took a lot of funds / corruption unilaterally at the end of last year without considering the stability of funding at their own exchange.

[slashz9]

before you put your money in an exchange you should check first, bnex is a new exchange where the security and services are not yet known and then you compare it with binance of course it's very different, ok their exchange is hacked but they clarify it and say nothing is need to worry because member funds are safe there.

[Wysi]

But we don't have many options left as DEX are poorly maintained and when you look at DEX exchange you don't feel like using it due to it's GUI and issues you face while using it at the same time we cannot term CEX same due to recent hackings and unnecessary restrictions which are imposed over us. This issue can be resolved with the emergence of good DEX with proper functionality and smooth UI.

[Xsinx]

Ever since cryptopia has been hacked i stop storing cryptocurrency on any exchange.

I only use exchange website to Buy or Sell cryptocurrency then withdraw the coins to my own wallet. In this way i can minimize myself from getting trap when a centralized exchange is hack/close again.

[inanilujimi]

The centralized exchange for me is only for daily trading, not a place to store assets because there is already a wallet that facilitates my assets personally.
for those of you who experience problems like this, hopefully get a bright spot and the exchange is responsible for your assets.

[tungaqhd]

Ever since cryptopia has been hacked i stop storing cryptocurrency on any exchange.

I only use exchange website to Buy or Sell cryptocurrency then withdraw the coins to my own wallet. In this way i can minimize myself from getting trap when a centralized exchange is hack/close again.

Same to me, cryptopia hacked was shock to me because i often use it to exchange my altcoins. I have switched to a new wallet right after that.

[Latines]

Of course! For several years, exchanges have been hacked, but people continue to keep their savings there. What are your problems? Set up a wallet, keep your money there. So your money will be safer. I never kept money on the exchange, because no matter how good her reputation was, she still remained vulnerable. Do not make the mistakes someone made before you. Be smarter.

[ice18]

We always use centralised exchanges because its fast, huge volume but the risk is too high and to solve this problems of hacking a decentralised exchange is way better but the problem is volume and speed , what we really need is a hybrid exchange, dex + cex its a new kind of exchange wherein we have a control of our coins and features are also added like of cex exhangers.

[reallester]

You are right. Scam and lack of security are major things we experience centralized exchanges.  Nevertheless, we can't 100% ascertain that all centralized exchanges fall in this category. We still have top leading centralized exchanges in the space still doing exceedingly well. One just needs to be choosy when it comes to which exchange to use.

[Coin_trader]

You are right. Scam and lack of security are major things we experience centralized exchanges.  Nevertheless, we can't 100% ascertain that all centralized exchanges fall in this category. We still have top leading centralized exchanges in the space still doing exceedingly well. One just needs to be choosy when it comes to which exchange to use.

Decentralization is good for crypto transaction but regarding on exchange. Being decentralized is the best IMHO. Exchane is a very sensitive matter which really requires a lot of deep layer of security. Being decentralized doesn't its untouchable so that being said. It's better to be centralized so someone will into your money security as there top priority compared to none. Time will come that most exchange will regulated and being centralized is not gonna matter at all.

[bitcoin_paypal]

Not your keys not your crypto. Thats true. But there are almost no trading volume on DEX

[piebeyb]

I have withdrawn my funds there since a few days ago and it has been processed even though I have to wait up to 3 hours. It is not much, even just a little ETH, but I do not want to give a bad value to this exchange, at least they should be telling the truth about what happened to their project, many people who withdraw their funds there will certainly make their users a bit active in trading and make their trading volume less, indeed centralized trading sites always have problems, like binance has been hacked but unfortunately they replace all lost funds, so it does not have to be connected to BCNEX and binance, because BCNEX market has just been released some time ago of course their reserve funds are not too much, not sure also in the future decentralized markets can be more famous than centralized markets, everyone has the choice to trade and that's they have thought about the risks