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Novatech8
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January 24, 2020, 12:52:33 PM
 #121

I know how bad it can be if you lost your fund to an exchange hack but sorry to say i trust few centralized exchanges not because of anything but how strong they have grown, many hacks happened in the past and they are still standing tall

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January 24, 2020, 12:58:49 PM
 #122

Exchanges being hacked had been a common scene in crypto industry.  And I agree never trust 100% any service that holds your fundings, withdraw your fund after you are done using their service.  Never stock or leave your coin unless you are trading.  Better safe than sorry.
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January 25, 2020, 06:53:55 PM
 #123

Hack, scam are common things in Centralized exchange. Don't get fooled by the high rank or huge trading volume, still, they are not safe! Binance CEO CZ was very confident that Binance is like a hardware wallet, he tweeted about it and after one month of that tweet, Binance got hacked and 7000 Bitcoin was compromised! Bithumb, Coinbene was hacked several times, many centralized exchanges scammed us.

Recently BCNEX exchange is likely to scam, they locked withdrawal, after 20 days when they unlocked the withdrawal function, people started withdrawing their money, but BCNEX is not finishing our withdrawals, they limited the itl by 50$ only! I have withdrawn my ETH 6 hours ago, still pending, some withdrew 14 hours go, still pending!

So, this is proved again why you shouldn't keep your money on a centralized exchange! Your money can be a scam or hacked anytime!

You speak as if we have a choice. All the things you said are obvious, by the way, I don’t think that you made a deposit at BCNEX, most likely you are trying to withdraw the funds you earned from the bounty. In any case, DEX exchanges are not ideal and do not provide the proper level of speed, liquidity and convenience. All the exchanges you listed, except BCNEX, have returned funds to their users and continue to operate normally.

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RussiaUkraineTranslation
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January 26, 2020, 02:01:00 PM
 #124

That's why I only trade on ecxx. They are regulated in Singapore, use ledger vault, have never been hacked, have a mobile trading app, and are backed by a 44 million dollar investment.
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January 26, 2020, 04:04:03 PM
 #125

Sometimes we just have no choice. Especially if we are talking about coins having a limited set of exchanges. However, you are right, all exchanges are intermediaries, which means an extra link in our interaction with money and the market, but sometimes without it there is no place. In the future, probably, everything will change, and we will deal “face to face” without intermediaries, but so far this future will rob us more than once.

It impossible for this kind of presumption that everything would be completely p2p.These service would exist no matter what and in fact more people do still make use of these platforms
due to possible benefit that a DEX cant give out.


You speak as if we have a choice. All the things you said are obvious, by the way, I don’t think that you made a deposit at BCNEX, most likely you are trying to withdraw the funds you earned from the bounty. In any case, DEX exchanges are not ideal and do not provide the proper level of speed, liquidity and convenience. All the exchanges you listed, except BCNEX, have returned funds to their users and continue to operate normally.

Most likely the situation on here but it turns out that said exchange havent paid him up.This isnt surprising on most small unknown exchangers out there.

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January 29, 2020, 11:34:56 AM
 #126

Exchanges being hacked had been a common scene in crypto industry.  And I agree never trust 100% any service that holds your fundings, withdraw your fund after you are done using their service.  Never stock or leave your coin unless you are trading.  Better safe than sorry.
It's all risky in crypto world, as a trader i have to leave my coins on exchange until i got enough good money/bitcoin to withdraw, on the process of trading daily an exchange can get hacked, it's so risky but nothing can be done about it, i have to trade and taking this risk is a must to earn my daily dues
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February 06, 2020, 08:15:06 AM
 #127

The reason for not trusting the centralized exchanges would be possibility of default and hack which are the two issues might happen in the exchanges. The hack is very frequent as the hackers are finding a new way to break the code these days. But bigger exchanges like Binance has already compensated their users for the loss. We cannot avoid centralized exchanges completely because the traders need those badly as it will not be economical for them to use DEXs because of their fees and volume and speed. But for the holders will not be an issue as they can withdraw and store in their wallets
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February 06, 2020, 08:46:02 AM
 #128

Traders can do without leaving coins on exchanges, this is how they make money, instead of worrying about exchange hacks that might never happen why not go for biggest exchanges instead? there are old exchanges that never get hacked since 2014
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February 06, 2020, 05:59:56 PM
 #129

Traders can do without leaving coins on exchanges, this is how they make money, instead of worrying about exchange hacks that might never happen why not go for biggest exchanges instead? there are old exchanges that never get hacked since 2014

actually smaller exchanges are less prone to hacks because they are only small  and hackers cant get much out of thier effort . they can instead hack big exchange so that they can earn huge .  binance is the biggest exchange but not really the old  . binance did already experienced to get hacked but other popular and big exchange got hacked too .  i never see a big exchange that hasnt got hacked yet   . maybe they are big before but not now because people already switch to binance and other popular names nowadays  .
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