Do you trust centralized exchanges?

[zasad@]

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

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[Altcoinsintel]

I didn't know this exchange, probably it was a local one only for Turkish customers. How it could manage to hold 1 billion dollar assets is very difficult to think of.
We keep telling not to hold coins in centralized exchanges, because these are the results. It is a big factor when calculating risk. While there are a few exchanges regulated there is no way trusting them.
The high fees in some blockchains are a problem though, and it makes newcomers to just keep holding in the exchanges they buy. Trading also becomes difficult at times in DEX and P2P exchanges and beginners usually don't touch those.
The only risk I am taking is when moving funds to a few big exchanges just to keep for a few trades. These trades may be lengthy but the risk of losing my funds is calculated before using them.

[jrrsparkles]

I don't trust them to be honest but we don't have decentralized marketplace with enough liquidity to trade as such in centralized exchanges so I am not leaving any funds iut there for any reason, just deposit == trade == withdraw with not much of waiting time so I can reduce the chances of losing funds.

[Bitstar_coin]

i trust some centralize exchange like binance, coinbase enough to keep my funds for sometimes and not be afraid, i know the 'not your key not your fund' propaganda but as long as centralized exchange exist people will always want to use them and also keep their funds, besides, the high transaction fee is another reason why people will keep their funds on cex, paying fees to transport funds back and forth is in anyone's best interest.

[ashmodeus]

damn, that disaster. i just started to worrying about my coin on many central exchange   , mostly on the exchange which it creating a startup for shitcoin project, well , i guess after lock up opened , i just put a small amount left, but i have question, did this possible ? major exchange like kucoin gone suddenly ?

[Ucy]

Don't store too much fund on centralized exchange no matter how well "regulated" the exchange appears to be. Bitcoin was meant to let you control your own fund and then trade peer-to-peer with other participants. So, it's better to trade on exchanges (especially the decentralized ones) that let's you trade while you control funds. They are generally called non-custodial exchanges

[oemar bakrie]

news that made the crowd panic..
and need to be careful not to lose too much when entering the market.
better to find an exchange that currently has a lot of enthusiasts and a well-organized team..

[zasad@]

We often encounter such problems.
Six months ago, the okex exchange did not withdraw customer funds for a long time
https://www.okex.com/support/hc/en-us/articles/360051090391
At the beginning of the year, users lost funds on the LiveCoin exchange.
http://livecoin.news/
If you store large sums on centralized exchanges, then there is always a risk of losing access to funds or losing them.

[grabpopcorn536]

Centralized exchanges are a good place of exchange to reduce transaction costs instead of DEXs, but leaving assets on centralized exchanges is also risky. There are attacks or sudden shutdowns of transactions due to criminal activity of the operator or customer and attacks by hackers. We have seen many major exchanges fall for the above reasons like MTGOX, Cryptopia, BTC-E ... Also there are some scam exchanges, they only allow deposits and no withdrawals.
It is clear that leaving money on exchanges has a certain risk so choosing an exchange to deposit money is also essential. I trust major exchanges like Coinbase, Binance, Kucoin, Houbi, Bittrex because they are old exchanges and have a large user base.

[bittick]

Just never trust anything not to mention something that have something to do with money, as you know money's influence on triggering people's greed is really strong therefore why I always avoid to keep my money for too long in an exchange since moving the money over to my desktop wallet isn't that complicated anyway and always prioritize using dex which right now isn't really good idea considering the fee and all. Such a shame though if the exchange you mentioned really did a rugpull. Honestly this whole centralized exchange make crypto feels like centralized bank all over again.

[dhemasm]

Basically it's depend on which exchange, For this case i suppose this was small exchange and have some problem or fishy scenario and i won't trust CEX with something like this but there will be different case if CEX like Binance, Bittrex, Kucoin, etc. I will trust it since i suppose they was more care to their reputation and better to become an long-term Crypto exchange.

[fosco333]

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

Thodex exchange ? i've never heard that exchange. How can rug pull exist on centralized exchange ? In my knowledge, rug pull can be done on decentralized exchange by removing the liquidity there, usually the owner of the token, or the dev who can rug pull it.
Personally, i trust top centralized cryptocurrency exchange such binance and currently still using it.

[Ten98]

news that made the crowd panic..
and need to be careful not to lose too much when entering the market.
better to find an exchange that currently has a lot of enthusiasts and a well-organized team..

That is obvious because luck is very difficult to find so it is necessary to enter a market that is already popular and has a lot of support which is always useful for their users when they are in the market.

[bekti3]

It depends on the centralized exchange policy where you live, as long as you are outside of Turkey and still think the exchange is something that has not been threatened with termination, then you don't need to worry, although caution is necessary.

[Yaunfitda]

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

To be honest, it's hard to trust centralized exchanges, although they can have all the liquidity, the trading volumes, but they can just do anything in their power to stop trading themselves just like in this case. And this is a reminder for all of us, don't feel comfortable and just keep money in their for trading purposes only and don't leave all your money in centralized exchanges.

[milani]

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

In my opinion everyone should follow this golden rule - to keep on the exchange such an amount that is not afraid to loose in case something goes wrong, and it does not depend on whether it is centralized or decentralized exchange. Nobody and nothing can guarantee you the full safety for your assets. The risk is really may be high and unnecessary.

[tvplus006]

I think that most participants do not trust centralized exchanges, but still trade on them. And there is a simple explanation for this: DEX has high fees and low liquidity. In addition, most of the tools that are available on CEX are missing on decentralized exchanges. This is the possibility of using margin trading, futures and such elementary ones as stop loss.

[bittraffic]

This is what they said about history repeating itself and this is happening after every bull market, I don't think this is coincident already. For big exchanges like Binance, it may really look too big for it the fail. But recently they have upgrade maintenance and that halted trading for some time. If there was a massive dump during that time as well, I would be left having a less valuable amount of coins there.

I think that most participants do not trust centralized exchanges, but still trade on them. And there is a simple explanation for this: DEX has high fees and low liquidity. In addition, most of the tools that are available on CEX are missing on decentralized exchanges. This is the possibility of using margin trading, futures and such elementary ones as stop loss.

Not everyone seems to be enjoying DEX but maybe until something happens to the CEXs.

[el kaka22]

That place might be in trouble because Turkish authorities do not look kindly upon these things. USA could be better place to do this, Bernie Madoff went decades doing his bid and then he was sentence to a jail that was basically a vacation if I was there, he lived in more luxury in jail then I live in my house. So long story short USA looks kindly towards financial crimes, but when it comes to financial crimes in Turkey those people will do everything in their power to get every single ounce of dollar that company has, every coin, every bit of data, everything they have, chairs tables hell the carpet on the floor, and sell all to pay people back.

I am not saying it will be without a loss, of course there will be, but it just won't be fully gone neither, it will be something in the middle of it where a bit of it will be recovered for sure.

[aprilnot]

no, but we still need CEX. one of the functions of CEX is to disburse funds from crypto to fiat. This service does not exist in the DEX yet, in fact it is difficult to exist. we don't believe in CEX, but they are still needed today. The problems at CEX are numerous such as privacy concerns, hacking, and risk of losing funds due to closure issues like this.

[Lanatsa]

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

Put up on your mind that never ever put all of your assets on an online exchange or centralized platforms on where you don't possess or own the keys of it because chances that you would lost
money is high because you wouldn't know on what comes next into those platforms which can have some potential problems in the future.

Im not saying I don't trust them since ive been using them for years now when making out some trades but doesn't mean it would really be on 100%.

It might be really that on expense on having active deposit and withdraw but at least you can really avoid that possible risk.

[agustina2]

I trust global exchange more compare to local exchange. It's unfortunate that something bad happened to that Turkish exchange.

But I'm always picky. Binance, Kucoin and exchanges within their league are worth to put some trust. Not saying they will be scam in the future but it's impossible to happen for now. I don't want a Cryptopia 2.0 and that's my mistake for putting trust to mid tier exchange as I end up no choice as some of my coins are only listed on that exchange.

[dunfida]

I trust global exchange more compare to local exchange. It's unfortunate that something bad happened to that Turkish exchange.

But I'm always picky. Binance, Kucoin and exchanges within their league are worth to put some trust. Not saying they will be scam in the future but it's impossible to happen for now. I don't want a Cryptopia 2.0 and that's my mistake for putting trust to mid tier exchange as I end up no choice as some of my coins are only listed on that exchange.

When we do already know on whose the owner and already built up some trust in the community or the entire globe then its really hard to deny that we cant just trust them.When it comes to security then those top tier exchangers are much better option for you to take than on those mid-tiers which is a no brainer thing for someone to consider. Trust might be hard to be given out but if it do able to suit out your needs on a specific exchange or platform then its really hard to ignore that as you go by then trust would be built up but of course always be mindful about on possible risk.

It might be in less chances but we cant really get rid of that small chance.So be prepared.

[Willitivity]

No I don't trust centralized exchanges completely, cause at any point in time they can just close their doors and run away with users money on the exchange's account, it has happened so many times not once or twice that's why I can't fully trust any centralized exchange, they can also decide to lock up your account any time they like just like the reports have been seeing around about coinbase freezing users accounts, things like that scares me honestly.

[Princeofpoetry]

Actually this issue is not about cex exchange or dex exchange. I honestly don't know the reputation of the exchange you mentioned. if it is not trusted, it is better not to use it because you will lose money. why don't you use binance?

[Japinat]

If that centralized exchange is properly regulated by the regulators, then I will trust them.

Centralized are getting more volume for a reasonn, its because they are safer and easier to use, however, there are regulations that has to be followed, if the exchange itself will not follow it, their license might be revoke and the exchange will stop operating, however, the funds should be recovered by the clients as the government will take over.

we love decentralizations, but let's face the reality that on exchanges, it's centralized exchanges are mostly use.

[adekogbe]

The centralized exchanges that i trust with my cryptocurrencies are the top exchanges that are well known with a strong reputation and have proven over the years to be able to safeguard their systems making it next to unbreachable  and can also boast of high liquidity.
Liquidity and security are very important to a choice of exchange in my opinion
 

[ene1980]

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

Throughout the years we have seen many exchanges getting hacked and then eventually halting their services and so is the reason majority who knows the history warns about holding the coins in exchanges. I will not trust holding my coins in exchanges and even with the high fees if i am not trading nor having any plans i will move them to my hardware wallet.

[Twinkledoe]

The centralized exchanges that i trust with my cryptocurrencies are the top exchanges that are well known with a strong reputation and have proven over the years to be able to safeguard their systems making it next to unbreachable  and can also boast of high liquidity.
Liquidity and security are very important to a choice of exchange in my opinion
 

The one mentioned by the OP, Turkish exchange, Thodex, is it under the jurisdiction of their Central Bank? Because if it is a local crypto exchange, and legit in operations, it should be registered under their Central Bank, right? So if in case, they go dark, their Central Bank can go after them. However, if not registered, that's the problem. For local crypto exchanges, I really don't store funds as there is high chance that they can really disappear. I will trust more  top exchanges like Binance as they have insurance for their users.

[xSkylarx]

For long term investments, keeping cryptocurrencies on exchanges is not really safe. Even if it is the most popular exchange it can still be hacked and you won't be able to withdraw your cryptos there because you don't hold any private keys. If you plant to hold bitcoin or any other altcoin, it is better to have a software or hardware wallet especially if it's a big amount. It's not easy to hack those type of wallets unless you didn't secure it properly or carelessly share the passphrase or private key to anyone. Never share those info other than yourself even if ghey are close to you.

[Yamifoud]

For long term investments, keeping cryptocurrencies on exchanges is not really safe. Even if it is the most popular exchange it can still be hacked and you won't be able to withdraw your cryptos there because you don't hold any private keys. If you plant to hold bitcoin or any other altcoin, it is better to have a software or hardware wallet especially if it's a big amount. It's not easy to hack those type of wallets unless you didn't secure it properly or carelessly share the passphrase or private key to anyone. Never share those info other than yourself even if ghey are close to you.

For safety and security assurance, that would be our option. As we are prone to hacking and possible inside job manipulation, using exchanges as our fund storage is likely we are willing to lose our funds at any time.
These days, we find a lot of local exchangers popping out and most of them can't be trusted and just scamming tools. That is why we need to be more cautious in choosing exchanges not only for centralizing exchanges but also for decentralized exchanges.

[Johnyz]

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 trust centralized exchange but not our local exchange because our government can really ban cryptocurrency any time and if I put my money on our local exchange, I might be on a high risk of losing it.

This is why I only use Binance which is operating on a country that accepts cryptocurrency, there’s a lot of good exchange and better to look for it, don’t just settled using the local exchange.

[tanjiran]

Yes, I trust CEX, moreover in my country, cex which is officially recognized for crypto asset trading. this makes it easy to withdraw money in the currency applicable in my country. well, cex and dex have their own advantages and disadvantages, it all depends on their respective needs. so don't be bothered, use both of them if it can provide more benefits.

[GreatArkansas]

Actually this issue is not about cex exchange or dex exchange. I honestly don't know the reputation of the exchange you mentioned. if it is not trusted, it is better not to use it because you will lose money. why don't you use binance?

Yes, researching before using such centralized exchanges is a must, there are already a lot of resources for doing the research before putting our money in some random centralized exchanges, google is our friend, there is a lot of forum now.
But we should just be aware that even how high the reputation of an exchange, there are still small possibilities that your money will get lost, like for example hacking incidents, or insiders, etc.  Very lot, this is just the main disadvantage of using centralized exchanges.

[Republikcoin.com]

I trust centralized exchange but not our local exchange because our government can really ban cryptocurrency any time and if I put my money on our local exchange, I might be on a high risk of losing it.
This is why I only use Binance which is operating on a country that accepts cryptocurrency, there’s a lot of good exchange and better to look for it, don’t just settled using the local exchange.

Local exchanges are safer and have clear certainty than foreign exchanges that are not within the jurisdiction of your country. The existence of a local exchange actually gets direct supervision by the government and local residents, the occurrence of fraud is a suicide for those who want to cheat. I happen to live in a country of law, where all activities are protected and regulated by law.

Meanwhile, Binance really has a high level of trust and I believe in Binance as a centralized exchange.

However, the cryptocurrency ban in China in September 2017 made Binance move its HQ to Japan until now. That means, Japan still has the possibility to impose restrictions on cryptocurrency, and here Binance's steps will be seriously threatened if that happens. The only thing CZ can do is move again to a country that is neutral or tends to be more accepting of cryptocurrency.

[lienfaye]

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

Im not aware of this news but if its true then thats the risk of using Cex.

I dont really trust centralized exchanges however compared to Dex, it is more convenient and it has high liquidity and volume which is good for traders.

What we can do is not storing our coins for too long in the exchange and choose a reputed one to avoid scam.

[inanilujimi]

I prefer local exchanges that already have a clear address and legality from the government, or trade on the best exchange that is currently available, namely Binance, the rest I will trade on other exchanges just to sell altcoins from bounty .
Centralized exchanges don't all make it difficult for customers, it's good to use one that's already trusted by many crypto enthusiast communities.

[ChaoChibai]

No I don't trust centralized exchanges completely, cause at any point in time they can just close their doors and run away with users money on the exchange's account, it has happened so many times not once or twice that's why I can't fully trust any centralized exchange, they can also decide to lock up your account any time they like just like the reports have been seeing around about coinbase freezing users accounts, things like that scares me honestly.

This is pretty bad if you are talking about centralized exchanges. There are so many things that makes us worry, especially with its safeness.
we have to be extra careful and doing more research before using such centralized exchanges.

[lixer]

Recently, I have not been trading on centralized exchanges and have kept as much money there as it’s not a pity to lose

But, if you take example like bittrex which is a centralized and regulated exchange, has been serving us for years without any major issues. I have kept more than $10k at some point of time, and then gone for withdrawing, all went smooth. I'm not saying, keeping funds with exchanges is a good idea but if you're choosing your exchanges wisely then he could solve most usual problems easily.

All the above, exchange getting hacked or sudden shutdown kind of things are highly unpredictable and we might need to face them. Only primary solution here is never holding big money with them.

[javainn]

crypto lovers globally may not believe it because they cannot yet give confidence what the advantages of this exchange are. So for myself, it's better to be on an obvious exchange like Binance than having to stake our assets there

[lxiaoh]

No matter centralized exchanges or decentralized exchanges,i dont turst,i just trust myself. But on the other hand, i have to trade on exchanges, and that is centralized exchanges, because comparing to decentralized exchanges, imo centralized exchanges is more easy to operate and sell.

[Leonardo7]

I only leave just a fraction of my asset on reputable exchnages for the sake of trading only and for the fact that ERC20 withdrawals are now very expensive. I know friends that lost millions of dogecoins to Cryptopia and coinexchange, won't allow such mistakes again. Not your key, not your money.

[Anonylz]

I only leave just a fraction of my asset on reputable exchnages for the sake of trading only and for the fact that ERC20 withdrawals are now very expensive. I know friends that lost millions of dogecoins to Cryptopia and coinexchange, won't allow such mistakes again. Not your key, not your money.

Your friend probably was not active following updates and news, most times some exchange usually make announcement of a possible closure so people can withdraw their funds, am not sure but i think even cryptopia made announcement or some people posted about it to warn people to take their funds, i can't remember, anyways, it is not adviceable to leave funds in the exchange for too long, if you are not trading then better to move them to a personal wallet,
just like the above poster said, i don't trust any exchange but they are necessary for trading which is why sometimes we have some part of our funds there.

[ZaraCB]

I don't trust centralized exchanges. But I have nothing to do. As a bounty hunter, I have to trade the tokens that are listed on the exchange. However, the trading fee is less in centralized exchanges. Decentralized exchanges like Uniswap can not suitable for small beds. I think Binance Smart Chain platform's DEX like Pancakeswap is the best to trade now.

[Botnake]

I don't really believe in centralized exchanges but nowadays almost everyone uses centralized exchanges. we can do exchange analysis before placing funds. from checking the clarity of the site to trust in the community. Often times when the market pump or dump that I don't like is the withdrawal becomes an error or the exchange can't be accessed. Regarding security issues I am pretty sure for a highly protected exchange to have insurance on customer funds

Just like investing, we can also diversify the risk in using exchanges, don't put all your eggs in one basket, that's the basic principle when it comes to investing. One exchange that goes dark this year is LIVECOIN, they used to be a little decent exchange but they disappear suddenly, probably with the money of the traders.

There's no choice at the moment but to trust the centralized exchange as DEX doesn't have the volume to cater the traders.

[Jackl87]

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 never heard of that exchange before it is true though that if you leave your funds at an exchange (a cex) than of course you do not have control over your funds anymore. "Not your keys, not your coins" it's as simple as that. That being said i also have a few Kucoin Shares on Kucoin because of the Kucoin bonus program. If i remember correctly kucoin was also a victim of a hack in the last months were the hot wallets where compromised but they recovered well from that. I only own a few KuCoin shares and therefore i am willing to take the risk that hey could be gone anytime if another hack occurs.

[prosperoustop]

no, but we still need CEX. one of the functions of CEX is to disburse funds from crypto to fiat. This service does not exist in the DEX yet, in fact it is difficult to exist. we don't believe in CEX, but they are still needed today. The problems at CEX are numerous such as privacy concerns, hacking, and risk of losing funds due to closure issues like this.

Such problems we have in DEX too! but as for me my data and documents are real value and very confidential, no one could ask me about it, because crypto was created as decentralized currency..

[Sparrow96]

I never trust a centralized exchange or wallet. I hate them because of some bitter experiences with them. When I need them urgently they deliver them lately. Also, locks fund sometime after changing security settings. If I talk about a non-custodial wallet, Coinbase, it's the worst experience. I was using Coinbase since 2014 and last year they locked my account for an unknown reason. I contacted them but they never reply. Worst customer service from them. My fund still there, may be locked forever. So I hate centralized exchange or wallet. Everyone should use a noncustodial wallet if they want to hodl.

[iram3130]

Its a constant fear of every trader or holder. A small holder or trader would never be able to withdraw everything from the exchanges because of its high fees and if there is a fluctuation, it will be harder to trade it. I trust some of the exchanges like Binance and Kucoin but most of them are hard to trust these days.

[DarkDays]

i trust some centralize exchange like binance, coinbase enough to keep my funds for sometimes and not be afraid, i know the 'not your key not your fund' propaganda but as long as centralized exchange exist people will always want to use them and also keep their funds, besides, the high transaction fee is another reason why people will keep their funds on cex, paying fees to transport funds back and forth is in anyone's best interest.

You can never trust anything.

Binance and Coinbase are good exchanges but neither of them provide you with a hack-proof security - no one can. The best way is to secure funds externally onto a cold wallet. This is the only way to keep your funds really safe.

DEX or CEX you can never be sure how can they be exploited in the future which I agree makes things harder but it is best to be cautious and not leave large capital on exchanges.

[Bilgent]

I trust the big centralized exchanges actually. Binance is one of them for me. I use it generally for trading and staking. But when it comes to HODLing my coins, I choose to withdraw them to my crypto wallet to be even safer.

[Wahyuihib]

It is unfortunate why this can happen. and my question is, why do people easily trust an exchange that still doesn't have good credibility. and this case will provide valuable lessons for us to always be careful when deciding whether to invest or trade on the stock ..

[whiteblue]

I trust the big centralized exchanges actually. Binance is one of them for me. I use it generally for trading and staking. But when it comes to HODLing my coins, I choose to withdraw them to my crypto wallet to be even safer.

For HODLing it is not recommended to store it on any exchange, so obviously it must be stored in your own wallet which you think is very safe to store it, and for an exchange like Binance obviously everyone likes it a lot, including me personally.

[irsykes]

Not about trust or not trust, but i think people don't have choice because there are a lot of reputable exchanges. If me maybe only trade on site that already have good reputation and maybe local exchanges. Honestly can't wonder if the site collapse, but i think if local exchanger and have real place, people will still can reach them in real life.

[max6575]

the service of swaps gives of chance on trader and investors with the possession of token to work on exchange with the least on expends as uses with customs of transparency and decentralized as service might apply different kind of level with the administrative tasks on kyc to confirm profile with the persona on action.

[andthereyou]

Yes, I have trusted centralized exchange for easy trading of cryptocurrency. I have use the current best exchange availble like binance. But if I plan to hold for a long time I have to put it in cold wallet like ledger.

[akgandalf]

I do not trade in centralized stock exchanges other than major stock exchanges. I trade on Binance and bitmax exchanges. Thodex have made it big in Turkey. There are 391 thousand customers who are victims.

[Similificator]

I feel the same. Although it may sound stupid not trusting something legit and governed by law, I cannot help but feel more distrust specially now when this industry is getting more and more known widely all throughout the world. My reason is because these type of exchanges are prone to manipulation or abuse by the government or banks. What if they suddenly decide to ban crypto all of a sudden? I then pity those who have their names confirmed to he connected to crypto. They will aurely have problems. Even if it's just huge taxing for crypto currency gains, it still isn't that good of a position for anyone.

[blue_nexus15]

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

For Cex I just go to do everything with Binance and Huobi.  I live in Southeast Asia.  Everything is very familiar, professional and has a very good link to support my community.  I am not interested in other CEXs as they are still the most reputable, reputable and reliable exchanges.

 If with Dex, UNI (ETH) and Pancake (BSC).  Also, I'm quite interested and really seriously watch Sov.  If SoVryn becomes the first defi - Dex exchange for the best bitcoin, I will definitely join it!
https://live.sovryn.app/trade

[slaman29]

No matter centralized exchanges or decentralized exchanges,i dont turst,i just trust myself. But on the other hand, i have to trade on exchanges, and that is centralized exchanges, because comparing to decentralized exchanges, imo centralized exchanges is more easy to operate and sell.

Well, you do have to trust 2 things at the very least. One is the Bitcoin network or the network of the blockchain you're using. I personally only trust Bitcoin, maybe also ETH to a certain extent, maybe also some alts like Monero and Litecoin.

But you also need to trust the wallet client you use;)

So if you trade at min you have to trust 3 things (the platform, regardless of CEX or DEX).

[dotcoin.info]

I trust the centralized Exchanges as much as I trust the beggars on the street. Think for yourself, you are assuring your funds to a third party, for which the cornfields are also responsible. Therefore, you run the risk that this third party may somehow lose your money, and you will not be able to do anything about it. And the exchange can lose money for completely different reasons. Such as Hacking or regulatory intervention and so on. You can trust the exchanges, but not for long because too many things do not depend on them.

[doctor877]

its best to limit your trust on any exchange and let your coins be in your custody. anything can help to the exchange or the owners which there wont be a remedy. i think the problem with many traders is because there funds are low thats why it dosent bother them. whales and any serious trader dont joke with this kinds of things.

[Nivia1st]

a recent issue with one of the exchanges might lower my trust in CEX. but even so I realized CEX was still needed. I have no other way to withdraw to FIAT other than using CEX. So there's nothing I can do but believe and hope that the exchange I use can be trusted.

[btcltcdigger]

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

While all CEX-es have the same concern, and that is THEM holing your money (not your keys, not your crypto) you have to factor in the recent Turkish ban on crypto.
I'm not defending the guy by any means, but it could have had an impact in his immoral decision

[bisdak40]

its best to limit your trust on any exchange and let your coins be in your custody. anything can help to the exchange or the owners which there wont be a remedy. i think the problem with many traders is because there funds are low thats why it dosent bother them. whales and any serious trader dont joke with this kinds of things.

Good point, because of the amount that is not too big many traders are trusting their money on centralized exchange.

But even if it is a small amount, it is still very painful for us if we lose our money so we better find some ways to be able to control our coins and at the same time we could transfer it instantly to centralized exchange whenever we need the fiat.

Not your keys, not your coins, we should always put this in mind.

[goaldigger]

There’s still a lot of good exchange in the market but of course it is still not advisable to put huge money on a wallet that you don’t control and CEX are too strict, so if you violate their ToS your money might be put on a big risk.

Every traders have their own CEX account here, and most of them knows the risk of trusting too much on CEX, some trader they buy and withdraw the token to their wallet just to be sure, i also prefer to use local exchange because their ToS is applicable to my country.

[cabron]

Whenever New Biden Tax law is approved I guess many of the traders will just go to the DEX and swapping sites later and these centralized exchanges will likely have few traders that government can tax. CEX will find it not worth holding and not allowing users to withdraw funds when there's just $1000 in their account.

The volume in DEX are gradually increasing, we can all see sometimes it reaches up to 3B already.

[samcrypto]

Whenever New Biden Tax law is approved I guess many of the traders will just go to the DEX and swapping sites later and these centralized exchanges will likely have few traders that government can tax. CEX will find it not worth holding and not allowing users to withdraw funds when there's just $1000 in their account.

The volume in DEX are gradually increasing, we can all see sometimes it reaches up to 3B already.

That’s the hardest thing for US citizen to deal with, they are about to pay huge taxes and they can’t avoid this one and as per Trump before, the market will crash if this tax law will take effect. I also believe that they’ll start to use DEX since most of the DEX now are gaining the trust of the public.

The Turkish news about a possible scam exit of the crypto exchanges is alarming but still I have to trust CEX because that’s my trading platform and I have to deal with the best CEX to ensure the safety of my wallet, Binance made this possible.

[MadeMen]

There are only a handful of centralized exchange that I trust. The truth is that most centralised exchange should not be trusted and that explains why its never a wise idea to hold substantial amounts of cryptocurrency assets on centralised exchange. The major reason why I could trust a centralised exchange is because they're global exchange with long term existence.

[devollito]

I have been stolen by centralised exchange omce and lost my money $5000. After that i will never trust centralised exchange anymore, i mean here i will never Hodl my coin in exchange. Maybe i will trade for a while but after trading i will withdraw my coin in to my ledger wallet.

[ecnalubma]

I don’t trust centralised exchanges thats why as much as possible I don’t store big amounts to them. The risk of putting money in centralised exchanges is very high, we know how vulnerable they are in terms of security. Sometimes the problem of loss funds is not the exchanges fault, some are users neglect in securing their accounts.

[Maslate]

I don’t trust centralised exchanges thats why as much as possible I don’t store big amounts to them. The risk of putting money in centralised exchanges is very high, we know how vulnerable they are in terms of security. Sometimes the problem of loss funds is not the exchanges fault, some are users neglect in securing their accounts.

Because in the first place, it is not advisable to store funds for very long to any exchanges either if that is a centralized or decentralized exchange if we want to keep our fund safe. Everything that we stored online is prone to hacking and that we need to be careful using them that is why we have to choose those who are already known exchanges.

[crzy]

I have been stolen by centralised exchange omce and lost my money $5000. After that i will never trust centralised exchange anymore, i mean here i will never Hodl my coin in exchange. Maybe i will trade for a while but after trading i will withdraw my coin in to my ledger wallet.

That’s advisable, don’t hold too much on exchanges because you might lose it since you don’t have control over your money. I don’t know what happened to your funds on CEX but its too unfortunate.

The owner of that turkish exchange might no plan of turning the site back, this could be a big scam if ever and it can ruin the trust of the public to CEX, this could be prevented at all cost. Even if you’re dealing with Binance, don’t over confident because bad things can still happen,

[pilosopotasyo]

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

You cannot avoid trading in a centralized exchange if the coins that you are holding or interested to invest are only trading in a centralized exchange, I still trust centralized exchange but only those centralized exchange with good reputation in the industry like Binance, Kucoin MXC you can be sure that if there are problem in their trading platform they will see to it that they are going to protect their trader's interest.
Always follow experts advice not to keep majority of your funds in the exchange.

[Ceyflix-Rez]

All Centralized exchanges have their ways of making money, that can not be denied but few of these centralized exchanges still cares for their customers, it's why I like and prefer binance exchange more than other top exchanges in crypto space, their customer service is top notch

[ololajulo]

I don’t trust centralised exchanges thats why as much as possible I don’t store big amounts to them. The risk of putting money in centralised exchanges is very high, we know how vulnerable they are in terms of security. Sometimes the problem of loss funds is not the exchanges fault, some are users neglect in securing their accounts.

Because in the first place, it is not advisable to store funds for very long to any exchanges either if that is a centralized or decentralized exchange if we want to keep our fund safe. Everything that we stored online is prone to hacking and that we need to be careful using them that is why we have to choose those who are already known exchanges.

Analysis showed that CEX still hold plenty coins even with the several warnings on the safety. Some exchanges like binance have the trust of users, maybe because they have been hacked before and users fund were safe. Exchanges don't keep such large fund on the platform to protect the backup fund.

[TastyChillySauce00]

no, but we still need CEX. one of the functions of CEX is to disburse funds from crypto to fiat. This service does not exist in the DEX yet, in fact it is difficult to exist. we don't believe in CEX, but they are still needed today. The problems at CEX are numerous such as privacy concerns, hacking, and risk of losing funds due to closure issues like this.

If only those stablecoins have a way to make its customers convert from stablecoin to fiat through bank quite easily we could've switched to dex like completely and I will definitely prefer using DEX because my experience in swap platform so far has been very smooth but yeah, considering all the regulations, etc I doubt any stablecoin could do that.
CEX on the other hand could be really disastrous if the exchange itself isn't some globally popular exchange, like in this case, I doubt the police could somehow catch the exchange owner considering his money which amounts to $2 billion any third world countries gonna be happy to hide him and get a share of what he has.

[gaston castano]

yes I know but everything is risky even saving money in the bank is also risky, so what guarantee do you have when saving your own money?
like a decentralized exchange or wallet, if you keep your money in your personal wallet you also have the risk of losing it if you forget your private key, keystore, etc.
you only reduce the risk but not eliminate it.

[Adreman23]

I don't trust centralized exchanges but i can't avoid to use them especially if i have  coins needed to trade quickly because Centralized exchanges has good volume compared to decentralized exchange. Maybe it's better to choose and trade in the top centralized exchanges and do not store large amounts for a very long time.

[martina14]

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

In my own opinion not all centralized are not good. There are still some centralized exchange that remain trusted, like Kucoin, Bitforex, Probit, and more because these platform that I had stated in the above are so far helpful to me actually, I had been using them for a couple months except for kucoin its almost 1 year for this one. But of course, just like the other's did, if I got earned big I withdraw some of it then convert it into fiat, something like that.

[nakamura12]

There are centralized exchange or even a centralized wallet. Using centralized exchange does not mean you will lose your fund because of the exchange because not all centralized exchange do that but it is true that some may do it. Not your keys not your funds propaganda is true as many  people are victims of storing their funds on a centralized wallet or even exchange sites.

[FloridaKid]

There are centralized exchange or even a centralized wallet. Using centralized exchange does not mean you will lose your fund because of the exchange because not all centralized exchange do that but it is true that some may do it. Not your keys not your funds propaganda is true as many  people are victims of storing their funds on a centralized wallet or even exchange sites.

The thing is Centralized exchanges are more trusted if they are top exchanges because they have collateral funds for any bad occurrences, this is what binance and kucoin do just in case, but Centralized wallet? There is no way to recover fund if anything goes wrong with centralized wallets, it should be a big no to crypto newbies

[MSTuTeJIb]

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

Don't trust centralized exchanges because of one hacked Turkish exchange? There are at least 3-4 centralized exchanges, very large and popular. Or trade on decentralized exchanges. To choose for you

[babykika2027]

Centralized exchanges is the only way right now if you are not ready to pay extremly big fees on ETH dexes

[Vinaa77]

Although there are indeed many cases regarding decentralized exchanges, nowadays trade with high volumes is on the decentralized exchange. The case of ceo escaping bringing user money is indeed a lesson for investors so that they can be careful about saving their funds. they must be able to store assets in a safe place when investing. but for traders this is indeed a risk. they should be able to choose a trusted exchange

[usekevin]

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

My option will be both centralized and decentralized exchange.If you keep using of decentralized it get into bore topic. If you added a pepper by using a centralized platform too.The platform of decentralized will be good and used by lot of people.The another one will had a less user and it make a sudden profit.When the site was locked, you money get into holding even you refused to do that.

[Cling18]

It depends on a centralized exchange. Some centralized exchange is risky so I always make sure to choose the one with a good reputation and record. I find newly established exchanges shaky unless they create a good name and prove that they're reputable first. We must be skeptical in choosing a good exchange.

[imstillthebest]

It depends on a centralized exchange. Some centralized exchange is risky so I always make sure to choose the one with a good reputation and record. I find newly established exchanges shaky unless they create a good name and prove that they're reputable first. We must be skeptical in choosing a good exchange.

the exchange was reputable because they are 4 years in the making after the issue came out .
old or new exchange it was both risky if its centralized  .
may this be a wake up call to us that patronize top centralize exchanges and starts to forget that decentralize exchange do also exist .

[Koro-Sensei]

Roughly I dont specially if those centralised exchange are high risk to hacks and government manipulation. It is quite unfortunate for turkish citizens that it were force down on these exchanges. Mt. Gox hackers before were also one of the reasons why some exchanges with low defense to these kinds of attacks aren't easily to be trusted.

[blckhawk]

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

Not familiar with that exchange though. Anyway, I do trust a few centralized exchanges yes especially Binance. Besides not gonna lie CEX does have a higher volume compared to DEX that is why for me it is better to use CEX for now. I am aware that they somehow have control over my account because it can possibly lock or something but I could avoid it by not leaving my coins in there. Upon using centralized exchanges it is highly recommended to not leave your coin inside the platform and if you will make sure it doesn't that much so that even if something bad happens the damage to your funds wouldn't be that much.

[repear7]

I trust some centralized exchange. Like Binance, Coinbase. Ok, let me express my thoughts. If you have already enough and have a good chance to get more big milestone in future then why you want to scam?

And that's why i trust some centralized exchange. Those exchanges already have enough. So i think they will not scam. This is totally my opinion.

[GrosWesh]

I only trust few of exchanges to send them (and let them hold for a while) my assets.

Binance and Huobi never disappointed me until now. Regarding binance, the fact that the safu fund exists is relatively reassuring, imo.

Coinex seems to be reliable, too...

I sometimes use more exotic places but in this case, I immediately withdraw my funds 

[ampu]

Store your money in large centralized transactions if you are a regular trader on those deals. Holding long-term crypto needs to be stored on major, reputable exchanges or withdrawn to personal wallets for safety.
Your key, your money. Remember that.

[Emitdama]

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’s never good to trust any exchanges at all, and it’s not only about issues like this, there are other things that can happen and affect you.

Anyone that is trading cryptocurrency should always make sure that they have a private wallet they are storing their main funds, and the money they want to trade with can then be moved to their exchange wallet so that if the exchange happens to do anything or gets hacked you wouldn’t have to regret that much.As for what this exchange has done, I can’t tell you whether it’s what you think or not since I have not used the exchange before, and I don’t know about them.

[bL4nkcode]

Anyone that is trading cryptocurrency should always make sure that they have a private wallet they are storing their main funds, and the money they want to trade with can then be moved to their exchange wallet so that if the exchange happens to do anything or gets hacked you wouldn’t have to regret that much.As for what this exchange has done, I can’t tell you whether it’s what you think or not since I have not used the exchange before, and I don’t know about them.

When you trade you need to trust the exchange and accept all the risks. These people are called traders, some day traders and etc. There's no need to transfer your funds right after trading in one time or two, if that's the case then better to hodl and trade/sell after a huge profit.

About that exchange, with those amount, I guess its one of the most used and one of the large local exchanges in turkey.

[ijeb]

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.

[uneng]

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.

A cold wallet is the best alternative so far. Even the centralized exchange I'm customer told me to store money in a cold wallet, while lefting only trading funds at the exchange wallet. Exchanges know they can't assure customers' funds totally, because the safety of the platform isn't the only thing we should worry, but also the regulations imposed by the governments.
Since the exchanges are centralized they can't deny any regulators' orders. What means if an user balance must be freezed or if a law pass in that country and bans crypto, the exchange can do nothing to help the customers. So in many cases it's not totally the exchanges' fault.

[cabron]

I trust some centralized exchange. Like Binance, Coinbase. Ok, let me express my thoughts. If you have already enough and have a good chance to get more big milestone in future then why you want to scam?

And that's why i trust some centralized exchange. Those exchanges already have enough. So i think they will not scam. This is totally my opinion.

You can trust those exchanges like binance and coinbase but its the government that you can't trust because these centralized exchanges have your data since they have been asking for your KYC documents. The government will soon look at the data you have because they can do so. And this is why users who are concerned with their privacy are often not trusting CEX like those exchanges.

[Cappex]

I think that the top exchanges do not have these problems but it is still recommended to keep your coins off the exchanges just to avoid nasty surprises.

[ILuckyGuyI]

I trust some of the centralized crypto exchanges but only the most secure ones. I mostly use Binance and I have no problem or worries about it. I'm really happy to use exchanges like Binance which are caring about the security of their users.

[DoublerHunter]

I trust some centralized exchange. Like Binance, Coinbase. Ok, let me express my thoughts. If you have already enough and have a good chance to get more big milestone in future then why you want to scam?

And that's why i trust some centralized exchange. Those exchanges already have enough. So i think they will not scam. This is totally my opinion.

^ Exactly right, sometimes we need to trust them and there is nothing we can do is just trust them an amount that we want to leave on them. But those exchanges that already existed and runs how many years on their service, in that way, if you have fund to deposit as your initial capital in trading, you don't need to worry at all because your fund is safe. Large exchange and very popular is probably the most trader's choice because this is the only way where you can put trust to deposit your fund even it is a centralized one. Nevertheless, in my opinion, and the most common popular exchange is Binance, I don't know others if we have the same choice.

[capokmerah]

Honestly, when it comes to money wherever it is, it must be risky. I do not really believe and believe to save money especially in large amounts. remember! we're talking about money. who always appear irresponsible and greedy people.

[poldanmig]

Store your money in large centralized transactions if you are a regular trader on those deals. Holding long-term crypto needs to be stored on major, reputable exchanges or withdrawn to personal wallets for safety.
Your key, your money. Remember that.

After this issue, for now, it is better to be wise in placing your money or crypto assets not on any exchange. for long term hold I've bought a hard wallet which is more secure to protect assets.
now there are so many fraud and hacking actions and you as an investor can be more careful. do not let the assets you build are lost because of carelessness in saving

[isaac_clarke22]

~

I traded back in Binance before though I wouldn't entrust my personal info through KYC processes through them cause I remember that there was a recent data leaks there back in the days. I can't quite pinpoint what year was it.
You never want somebody contacting you anonymously one day.

[bittick]

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

Don't trust centralized exchanges because of one hacked Turkish exchange? There are at least 3-4 centralized exchanges, very large and popular. Or trade on decentralized exchanges. To choose for you

I think he meant to be aware and never really trust an exchange, it's true that this first quarter year around if i'm not mistaken only this turkish exchange that did a rugpull or exit scam but we've experienced such thing quite frequent times from the past not to mention the third rated exchange that we don't even know where those are based on.
There's definitely nothing wrong with using cex more specifically if it's a big 5 exchanges but just don't too trusting to these exchanges I guess, as people have said many times "not your privkey not your money"

[Davian144]

Honestly, when it comes to money wherever it is, it must be risky. I do not really believe and believe to save money especially in large amounts. remember! we're talking about money. who always appear irresponsible and greedy people.

Everyone who deals with money directly, he must be smart in choosing his partners, otherwise loss will be very easy for him to get, so caution must always exist when playing with money because everyone's goal is to make money.

[Impala8_]

I don't trust them to be honest but we don't have decentralized marketplace with enough liquidity to trade as such in centralized exchanges so I am not leaving any funds iut there for any reason, just deposit == trade == withdraw with not much of waiting time so I can reduce the chances of losing funds.

Exactly!

[1l1l11ll1l]

I still use CEX until now, but I won't take any risk by storing my assets in the wallet provided by CEX. btw, the cases in Turkey are quite crazy, they are like being irresponsible and leaving many victims and hurting the community, I hope the culprit is caught sooner

[the rise]

Recently, I have not been trading on centralized exchanges and have kept as much money there as it’s not a pity to lose

That is a risk in a centralized exchange, if they do not have complete requirements as well as complete legal documents. And also our risk of trading if we lose money. Therefore I suggest to to a trusted exchange such as binance. I think everyone knows, I'm sure you'll be happy to trade there.

[the rise]

Honestly, when it comes to money wherever it is, it must be risky. I do not really believe and believe to save money especially in large amounts. remember! we're talking about money. who always appear irresponsible and greedy people.

That's right, I see turkey too severe in this case, However, there has been no viral news about turkish cryptocurrency lately, quite dangerous and quite avoid exchanges from turkey, they are vague and irresponsible, I hope it is handled immediately.

[Botnake]

I still use CEX until now, but I won't take any risk by storing my assets in the wallet provided by CEX. btw, the cases in Turkey are quite crazy, they are like being irresponsible and leaving many victims and hurting the community, I hope the culprit is caught sooner

I'm not aware of the news, but are you referring to this https://www.aljazeera.com/economy/2021/4/23/turkey-crypto-exchange-probe-62-arrested-ceo-on-the-run?

I guess we should already learn as it happens a lot of time that exchanges are seized and CEO could disappear together with our money.
It's wise to only trust big exchanges but never leave your coins in their wallet in the long run.

just remember that "not your keys, not your wallet" it's pretty basic and everyone has to be aware.

[zasad@]

Information about the hacking of a large cryptocurrency exchange
https://hotbit.zendesk.com/hc/en-us/articles/1500008915521-

"Dear respected users,
Hotbit just suffered a serious cyber attack starting around 08:00 PM UTC, April 29,2021, which led to the paralyzation of a number of some basic services. Meanwhile, the attackers also tried to hack into Hotbit’s wallets (However, the attempt was identified and stopped by our risk control system).
In this case, Hotbit team has shut down all services for inspection and restoration immediately, and the overall recovery period is expected to be no less than 7 days.
Please note that all your assets are safe and secure, and you can follow us on Twitter,Facebook, and Telegram for Hotbit’s latest recovery progress."

[junkerr]

That's right, I see turkey too severe in this case, However, there has been no viral news about turkish cryptocurrency lately, quite dangerous and quite avoid exchanges from turkey, they are vague and irresponsible, I hope it is handled immediately.

bad news like that could put this market into bad trouble.
hopefully, it can be handled soon. that is if in their country there are clear regulations to handle it all. or the exchange is indeed registered in their country as a clear company.
if everything is not regulated I'm sure it will be a little difficult to handle it all.

[Fivestar4everMVP]

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.

[South Park]

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.

[ibuddy122505]

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.

[Moeda]

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 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?

[sangjoewara]

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.

[Skinny48]

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

[Benefactor]

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.

[H1N1]

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.

[NeverSop]

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.
 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.

[DOH!]

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.

[Maslate]

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

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.

[Sihab76]

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.

[xiboothrezi]

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.

[firmino10]

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.

[Swopon]

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.

[boty]

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.

[aemma]

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.

[strunberg]

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.

[ampu]

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.

[rajakulam]

It is better to transact on a centralized exchange than one that can be regulated by a country, but centralized exchanges do not guarantee 100% security of their systems, as each exchange has its own flaws and drawbacks.
always update information to avoid things like this

[MonaLeeTracy]

So far I haven't had any problems with centralized exchanges and of course I still believe. Low trading fees are on centralized exchanges compared to Dex exchanges.
But when yesterday there was an issue regarding an exchange that deceived many custumer in Turkey, it made me more selective and not carelessly put money in a risky exchange or indicated a scam

[Williamm07]

Take it or leave it, the best performing exchanges in crypto space are still centralised exchanges, they have the best volumes and liquidity, is choose binance, kraken, bitfinex, kucoin, gate and few others over uniswap and pancakeswap

[sulis sudibyo]

I believe but not all, just a few exchanges. for daily trading I use binance and huobi, for local exchanges I use Indodax. I use local exchanges to withdraw to fiat. but even so I mostly use DEX like uniswap or pancakeswap. I trust dex more than cex.

[SeaSoul]

I believe but not all, just a few exchanges. for daily trading I use binance and huobi, for local exchanges I use Indodax. I use local exchanges to withdraw to fiat. but even so I mostly use DEX like uniswap or pancakeswap. I trust dex more than cex.

This is a decision that has to be made from case to case. For me the most important factor is whether the exchange is licensed, the people behind it are publicly known and where the exchange really operates. If there is no chance for any recourse should the exchange get hacked or the owners run off with the coins, I wouldn't touch it.

[Atang Sulaeman]

It would be nice for us not to store our funds too much in a centralized market, for fear that it is what we do not want,
whether it will be hacked or have gone out of business.

[SeaSoul]

It would be nice for us not to store our funds too much in a centralized market, for fear that it is what we do not want,
whether it will be hacked or have gone out of business.

Not only do they hold our coins and the coins are at risk when hack happens or another chaos breaks out, but also trading at centralized exchanges generates revenue, and this revenue is so large that by now the bigger exchanges hold tremendous amounts of crypto and have enormous influence on the market if they want. My guess is that they want. It's better to soon use more decentralized exchanges and keep the coins off exchange.

[suzanne5223]

To be honest I trust centralized exchanges which have a good reputation because centralized exchanges have high liquidity but of course using a centralized exchange is just enough to deposit, trade, withdraw and never save funds there so that I can reduce the possibility of losing funds

I only like and respect centralized exchange with good reputation but I don't think it fair for anyone to totally trust centralized exchange cause all of them are guilty of fake volume and liquidity at some point.
I guess you dont understand that the possible chance of losing funds was one of the reasons why you don't have to trust a centralized

[Woodie]

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.

[tarable]

Take it or leave it, the best performing exchanges in crypto space are still centralised exchanges, they have the best volumes and liquidity, is choose binance, kraken, bitfinex, kucoin, gate and few others over uniswap and pancakeswap

Yes, but you should also know that uniswap and pancakeswap will not be the same as binance, kraken, bitfinex, kucoin, and gate, so don't confuse centralized exchanges with non-centralized exchanges because each exchange runs on its own path based on development before the exchange was used by many people.

[uray]

This is a decision that has to be made from case to case. For me the most important factor is whether the exchange is licensed, the people behind it are publicly known and where the exchange really operates. If there is no chance for any recourse should the exchange get hacked or the owners run off with the coins, I wouldn't touch it.

If the exchange is license and if they have insured then it would be great but how many exchange does have these options and there wont be many. I wont trust anyone even if they are publicly known as we have seen operators running off with the coins in the past and you should not take the risk by trusting these operators unless it is licensed in a reputable country as there are many exchanges registered in offshore countries and it does not mean nothing if something bad happens.

[meysonYo]

When I was newbie to the crypto market, I was also a proponent of the idea that any centralized exchange is evil, and only decentralized exchanges should be at the top in crypto. But very quickly I changed my mind. DEX is much more vulnerable and much unreliable compared to CEX. And especially for beginners, I would recommend using the popular CEX.

[MUG1WARA]

No I don't, the reason is because my money is stored in an exchange wallet in which I have no access to the private key, its like their hands in my pocket kind of thing, they can do whatever they like with my money in their wallet, and the risk of not getting my money back whenever a hack occurs is a bit scary, so I only deposit trade then withdraw my money back to my wallet where its safe, although sometimes I leave a little amount of money to use in trading again.

[CaVO32]

This is a decision that has to be made from case to case. For me the most important factor is whether the exchange is licensed, the people behind it are publicly known and where the exchange really operates. If there is no chance for any recourse should the exchange get hacked or the owners run off with the coins, I wouldn't touch it.

If the exchange is license and if they have insured then it would be great but how many exchange does have these options and there wont be many. I wont trust anyone even if they are publicly known as we have seen operators running off with the coins in the past and you should not take the risk by trusting these operators unless it is licensed in a reputable country as there are many exchanges registered in offshore countries and it does not mean nothing if something bad happens.

As far as I know, only Binance and Coinbase have some type of insurance. But for Coinbase only their USD assets are insured (https://www.coinbase.com/legal/insurance). However in Binance, all your assets are secured by their SAFU, which I believe, is much better. So even if you store other alts, you are pretty much covered with their insurance, in case, something happens to their platform. For me, I will trust my coins on Binance but if you can store your own coins in your own wallet, why not?

https://www.binance.com/en/blog/307883269744750592/Binance-Is-SAFU-7-Ways-We-Secure-Your-Assets-247

[motun01]

I haven't heard if this Turkish exchange before and i only stick to the major well known centralized exchanges in the cryptocurrency space.
I like Binance, Kucoin, and a few others as far as centralized exchanges go and i always try to keep my trading between this few exchanges just to be safe

[SistaFista]

Honestly i don't trust them, just look at the centralized exchanges that have been hacked, eg. cryptopia, etc
The security of centralized exchange is not 100% safe, we should not put our money too much on it.
On the other hand, decentralized exchanges such as uniswap, pancakeswap, etc are promising, we can be a liquidity provider on those exchanges to gain profit.

[Dr.Osh]

I think exchangers like Binance have clear information about the people in them, so I think if something happens that you don't want, then I think the people inside will be easily punished. So, because of that, I believe in CEX like binance, even if it's not 100%. however, there are always risks such as hacks and others. It's just that, seeing the quality of Binance in being responsible, I think it deserves appreciation.

[whiteblue]

I haven't heard if this Turkish exchange before and i only stick to the major well known centralized exchanges in the cryptocurrency space.
I like Binance, Kucoin, and a few others as far as centralized exchanges go and i always try to keep my trading between this few exchanges just to be safe

If the exchange you are using now is much safer and more comfortable, there is no need to think about new exchanges that exist in different countries, because we use exchanges to be safer in terms of storing assets and more comfortable when we use them, not for others.

[_IRMAN]

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.

[leea-1334]

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.

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:)

[Stanlo]

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

[Mauser]

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. 

[sarmrakib]

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.

[Shasha80]

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.

[laredo7mm]

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.

[mr.robot8]

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

[rahmatullah9305]

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.

[masterrex]

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 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.

[South Park]

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.

The problem is that a lot of people do not really use the forum to find objective information about which exchange is good and which one is a scam, people use social media in order to find exchanges and they do not check the reputation of any exchange thinking that is impossible for them to lose their coins, they do not know that in this market there are a lot of scams, and while that is true in any market the problem here is that once you lose your coins there is no way to get them back.

[udidrone]

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?

[Bravehash]

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

[Imran232]

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.

[Inspiron14]

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

[arifteguhr]

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

[leea-1334]

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.

[KimmyF]

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.

[xianbits]

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.
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.

[StevenCS]

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

[Kayum10029]

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.

[oprahwindfury]

We don't have decentralized commercial center with sufficient liquidity to exchange as such in incorporated trades so I am not leaving any assets iut there under any circumstance, simply store exchange  pull out with very little of holding up time so I can lessen the odds of losing reserves.

[Jordi129]

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. If I talk about a non-custodial wallet Coinbase, it's the worst experience. I was using Coinbase since 2016 and last year they locked my account for an unknown reason. I contacted them but they never reply. Worst customer service from them. My fund still there, may be locked forever.

[Almasani]

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 never use the exchanges you mentioned. But speaking of centralized exchanges, most of the exchanges I use are centralized exchanges, including Binance. In this case, I think the problem is not centralized or decentralized exchange. However, it depends on the developer of the platform. Apart from trust in the owner, the security level of exchange is also the main thing.

[Teknisi88]

For most digital currency investors, centralized cryptocurrency exchanges are one of the most important facilities for transactions. Centrale centralized exchange is an online platform used to buy and sell Cryptocurrency. They are the most common ways that investors use to buy and sell Cryptocurrency ownership.
Some investors may consider the concept of "centralized" exchanges rather misleading, because the digital currency itself is often referred to as "decentralized". What does this type of exchange mean to be "centralized", and why this exchange is very important to believe the overall Cryptocurrency industry?

[MishaSER]

In fact, we have no choice, we must trust the centralized exchanges, but in the future I hope we will get rid of them, at least from trading and holding on the exchanges. I want all cryptocurrencies to be on pancakeswap and uniswap and other similar exchanges. So that I can trade without fear of being blocked.

[Johny9829]

NOPE BUT ALSO WE DONT HAVE PROPER DEX

[Distinctin]

In fact, we have no choice, we must trust the centralized exchanges, but in the future I hope we will get rid of them, at least from trading and holding on the exchanges. I want all cryptocurrencies to be on pancakeswap and uniswap and other similar exchanges. So that I can trade without fear of being blocked.

Perhaps, we the choice not to trust them for some reason.

Maybe some centralized exchanges could still be trusted but not all of them. But as the number of complaints arises coming from them, the more it gives the reason for the traders not to use them. We are seeking our fund's security and that is why we should be careful in choosing exchanges that we have to use. And since fakes/phishing sites aren't new to us, the more we become vigilant on the market.

[Cadaver20]

I believe in some of the top level centralized exchanges like Binance, Kucoin, Bithumb global etc. In these exchanges I held my money and never had any problems. There is no opportunity to place an order on decentralized exchanges. As a result, I always have to keep an eye on the market to see when it reaches my expected price.

[pelumi20]

The only centralized exchange that I trust is Binance, because it is the best exchange and it is very reliable. But still I don't store my cryptocurrency on Binance because anything can happen at any time. I store my cryptocurrency coins on my personal wallet that I have control over.

[noormcs5]

I really believe in centralized exchanges such as Binance, Kucoin, OKEX etc. but I have never heard of a local Turkish exchange like you mentioned, maybe my knowledge is not that much about the latest exchange, but my advice is not to put all your assets on one exchange

Even you should not fully trust  Binance,  Kucoin or other trusted exchanges because they can seize our funds anytime for any reason and we have no control on our funds. Often we see the binance servers unable to handle traffic in extreme volatile times when bitcoin is dumping or pumping. We need more decentralized platforms like uniswap with low fee.

[South Park]

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

That was to be expected, after all a centralized exchange can more easily administrate their operations and offer better prices and fees, however the fact the security is better in a DEX is really an important feature that cannot be underestimated, the fact that hackers can steal your coins easily from a centralized exchange in a massive hack is something to be worried about, but with DEXs which allows you to control your private keys from which they have no access this kind of hack becomes impossible to do and you can only lose your coins because of you own mistakes and that is invaluable.

[martina14]

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

If you are talking about this exchange you had posted the link in the above, my answer is I do not know about that Bitcoin exchange anyway.
Aside from that, not all centralized exchange are all the same like what you are thinking, because I had been using centralized exchange for a couple of years now and so far so good. Maybe because that is depending in the track record it has in the market just like Binance, were it was one of the top and popular exchange nowadays in the market I think if I am not mistaken anyway. Just always be cautious just like the experts did here.

[Spack17]

I trust centralized exchanges more than decentralized ones as long as they are one of the most credible exchanges (e.g. Binance). I trust them because you can't find scam projects easily. Being listed on Binance for example is not an easy thing to achieve for all of the projects exist in the market. But you can see many scam projects in decentralized exchanges. And it's really a big threat for the investors.

[Ebede]

Central exchange's is no were to be trusted because since years now we have been practicing am exchange with centralized platforms such as different banks but no profit, no development or new innovation in centralized platforms, now since we have started using decentralized exchange's no problem and everyone is mindful using anything, so i prefer decentralized than centralized platforms.

[leatutz]

Some of us have some information about the centralized "Hotbit" exchange. This is the main problem of centralized exchange. Another problem is fake volume with liquidity. You can't buy any top altcoins without Binance, even with high volume. I can only avoid transaction costs. Centralized exchange should develop more to control our funds where we have more freedom.

[XUR_TIP]

Top centralised exchanges have something they care about (REP) that's why it's easier to trust them, it takes more than dedication and hard work to get to that position and they will do anything to keep it that way, top centralised exchanges is what I trust not just any centralised exchanges

[ancafe]

Central exchange's is no were to be trusted because since years now we have been practicing am exchange with centralized platforms such as different banks but no profit, no development or new innovation in centralized platforms, now since we have started using decentralized exchange's no problem and everyone is mindful using anything, so i prefer decentralized than centralized platforms.

actually, I am between believing and not believing in CEX, that's why I rarely keep my money on CEX international even though it's binance. however, in fact, despite that, I still continue to use it. however, we don't know which CEX hackers will target next. right now, I have the principle that take advantage of what is there and don't keep 100% belief in it.

[hari9981]

I trust my local exchange since its already verified by my National authority.
But for exchange like Binance i only put small percentage of my money there since i dont really trust it, i afraid that Liberty Reserve tragedy happens twice 

[xianbits]

Central exchange's is no were to be trusted because since years now we have been practicing am exchange with centralized platforms such as different banks but no profit, no development or new innovation in centralized platforms, now since we have started using decentralized exchange's no problem and everyone is mindful using anything, so i prefer decentralized than centralized platforms.

actually, I am between believing and not believing in CEX, that's why I rarely keep my money on CEX international even though it's binance. however, in fact, despite that, I still continue to use it. however, we don't know which CEX hackers will target next. right now, I have the principle that take advantage of what is there and don't keep 100% belief in it.

The good thing about CEX when we talk about hackers is that they have  a team who watches illegal activities on their site and they will take full responsibility of its users losses, in case it happens.

[modem5673]

I believe in centralized exchanges, but on the condition that they are protected by certain parties,

in that case the exchange must operate in accordance with the stipulated regulations so that there are no doubts by many investors.

[modem5673]

Regarding the problem of trusting a centralized exchange, it is likely that many people find it difficult to trust the platform,
because all user transactions, occur directly between other users.

I think that's what makes it hard for people to believe in the platform.

[Yudhisthir]

Centralized exchanges do provide some extent of safety that decentralized exchanges can't. Many of the popular one have higher security for cold and hot wallets and it's near impossible to empty those wallet even on a serious hack or inside involvement. They have custodial insurance and provides many safety feature like OTP for login, trade and withdrawal, Authentication, Address confirmation, etc. And most of all they have cheaper fees for trading compared to dex.

[sarmrakib]

Centralized exchanges do provide some extent of safety that decentralized exchanges can't. Many of the popular one have higher security for cold and hot wallets and it's near impossible to empty those wallet even on a serious hack or inside involvement. They have custodial insurance and provides many safety feature like OTP for login, trade and withdrawal, Authentication, Address confirmation, etc. And most of all they have cheaper fees for trading compared to dex.

Yes it is exactly what i thought CEX is much and more secured than DEX. However we have seen in past some serious hack on top CEX but it still more secured than Dex. On the other hand the fee is one of the most fact as well, we can always make trade on CEX with less fees.That's why i always trust on CEX.

[DarkDays]

Top centralised exchanges have something they care about (REP) that's why it's easier to trust them, it takes more than dedication and hard work to get to that position and they will do anything to keep it that way, top centralised exchanges is what I trust not just any centralised exchanges

Yes, you're right. There is some pressure from the CEX to keep their reputation or else they'd lose their customers as they're already selling their identity. the least they can get is some trust and fully operational exchange without hiccups like we see with many DEXs.

[ubercool]

It's not the first time nor the last time we are seeing something like this happen. This is the main problem with all of the centralized exchanges. How are you going to trust them with your crypto. This is really a very hard question for a small portfolio trader as he'll not be able to withdraw every coin to wallet also he'll be in constant fear of losing his coins.

[infer]

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 don't trust the exchange to be very focused, it has many risk vulnerabilities.
Some of the centrally focused exchanges I trust today like binance, kucoin. I've never heard of the exchange you mentioned, maybe my knowledge is limited.
Nothing is certain, although centrally focused exchanges already have information security. But I've never kept my money up here.

[Galley]

I use centralized exchanges to trade. I mainly use Binance and Kucoin, I trust them to some extent. Decentralized exchanges are expensive to use due to too high commission. And risk exists everywhere in one way or another.

[oscarftw]

I don't trust centralized exchange without Binance, OKEX, Huobi global, gate, and kucoin. I also use some more exchanges, but they are used very rarely. Stay away from the LATOKEN and Cointiger exchange, more exchange those has a very fake volume. We shouldn't trust centralized exchange but for transaction cost situation, we have to do it.

[karungbitcoin]

Since I lost money in Cryptopia, I try to move to decentralized exchange and currently available a lot of DEX to chooce that offer different Cryptocurrency to trade. Uniswap in the top 10 crypto based on market cap so that mean a lot of people moved from CEX to DEX. Trade on CEX is mean the private key of the wallet crypto asset not belong to us. No key is mean not your coin.

[South Park]

I trust centralized exchanges more than decentralized ones as long as they are one of the most credible exchanges (e.g. Binance). I trust them because you can't find scam projects easily. Being listed on Binance for example is not an easy thing to achieve for all of the projects exist in the market. But you can see many scam projects in decentralized exchanges. And it's really a big threat for the investors.

It depends on the trust that you want to place on the exchanges, it seems that you want an exchange where only good projects exist and centralized exchanges are the best bet for that, many decentralized exchanges list every single project available and that means the chances there are scams in there is 100%, however when it comes to the security of your coins I will say that decentralized exchanges are better as they never have control of your coins and that is way better than what any centralized exchange can offer.

[Chathusand]

Not only can they keep our tokens, putting them at risk in the event of a hack or other disruption, but trading at centralized exchanges often creates income, and this revenue is so high that the larger exchanges now hold massive volumes of crypto and can have immense market dominance if they so choose. My assumption is that they do. It is preferable to use more decentralized markets as soon as possible.

[odukoyaewatomi27]

I really do not see any reason why anyone should trust these centralized exchanges or store their money there. because over a couple of times, we have seen these exchanges get hacked and millions of dollars worth of coins get stolen. It is best for you to store your coins in your personal wallet.

[N2CoinOfficial]

They function as trusted intermediaries in trades, and often act as custodians by storing and protecting your funds.

[raji1995naya]

In reality, we have no choice but to trust the centralized markets. However, I hope that in the future, we will be able to do away with them, at least in terms of trading and holding on the exchanges. All cryptocurrencies should be available on pancakeswap, uniswap, and other related exchanges, according to me. So that I don't have to worry about getting blocked when I trade.

[JooBra]

In reality, we have no choice but to trust the centralized markets. However, I hope that in the future, we will be able to do away with them, at least in terms of trading and holding on the exchanges. All cryptocurrencies should be available on pancakeswap, uniswap, and other related exchanges, according to me. So that I don't have to worry about getting blocked when I trade.

I think that it will come with time. Right now we are not ready yet for something like that since the fees are getting too high. But when when we switch from proof of work to other types we will be close and that is going to happen in next couple of years.

[olabiyijummy02]

I trust centralized exchanges a lot more than DEX
Not all centralized exchanges are good though that is why i only restrict my cryptocurrency trading to only the top exchanges. This turkey exchange that you're referrencing here is not a top exchange and there is no reason why i will trust such an exchange with my cryptos.

[verita1]

Fortunately, there will be justice for the culprits of this crypto scam. I do not know the background of this Turkish exchange platform.
It is appropriate to recognize that we are vulnerable to being users of websites like this and being scammed and causing serious consequences for the crypto community and it is logical that governments act in retaliation to prohibit activities with bitcoin and cryptocurrencies.

https://www.reuters.com/technology/turkey-jails-6-crypto-probe-including-thodex-ceos-siblings-courthouse-2021-04-30/

A Turkish court jailed pending trial six suspects late on Thursday as part of a probe into cryptocurrency trading platform Thodex, including the CEO's siblings, a spokeswoman for the prosecutor's office said.

More recent information about this case as tracking transactions here:

https://finance.yahoo.com/news/where-did-thodex-crypto-exchange-134800259.html

[firmino10]

generally, I don't trust centralized exchanges (because they are not very secured) and prefer to use decentralized exchanges. But the major issue i have is that most of these decentralized exchanges don't have much volume and liquidity like the centralized ones.

[stadus]

generally, I don't trust centralized exchanges (because they are not very secured) and prefer to use decentralized exchanges.

What's your reason, and how is DEX more secured than centralized exchange? did you know that one of the DEX was hacked before?

https://mashable.com/2017/12/21/etherdelta-hacked/

Cryptocurrency exchange EtherDelta gets hacked and replaced by a fake site that steals your money

But the major issue i have is that most of these decentralized exchanges don't have much volume and liquidity like the centralized ones.

That speaks the reason, people trust CEX more than DEX because they feel it's safer, and because it's regulated, they can go after the site unlike DEX of course.

[bittick]

I use centralized exchanges to trade. I mainly use Binance and Kucoin, I trust them to some extent. Decentralized exchanges are expensive to use due to too high commission. And risk exists everywhere in one way or another.

if i'm being frank that's true, even better if the cex offers insurance so it equals out the risk we can have from exchanging using either dex or cex, but the problem with dex is sometime there's fake smart contract everywhere it's just really risky and i think the dev of the dex should do something about that like making community report feature to tag it as phishing or scam, but the lower tier of cex also could be very shady, sometime i just look at the liquidity and just use it temporarily like withdrawing after im done converting my money

[dotcoin.info]

If you want to trust decentralized exchanges, then you should choose only those that are in tier 1.
The logic is simple, all exchanges from tier 1 are fighting for clients, even if they are hacked, they cannot afford to lose clients, which means they will in every possible way restore balances and recover funds .

[ingiltere]

Thodex was a whole different case, it was an unknown exchange even locally, there were a lot of shady things around it. Luckily nobody I know got affected because majority of Turkish people use Btctürk and Paribu, which I have less trust latter. Even the biggest exchanges have some flaws and things may go bad at an unexpected time, like Mt.Gox case. Right now everybody use Binance but do we trust it? We have to use it, what can you do even if you don't trust. Not all coins and volume is in decenteralized exchanges. Maybe in the future that will change for better but even then we have to use centralized exchanges at some point, e.g. profit realization.

[Darktongue]

In a decentralized world, dominating centralized exchange. If we check the Binance exchange, Binance exchange also has some fear of centralization. Now Binance also provided decentralized service. Actually, we can get out from the centralize after transaction has completed, but our information is left in the decentralized. We need both services, which means none of these services will die.

[devil2man]

obviously for centralized exchanges the saying not your keys not your money always applies in other words you have to be cautious and keep altcoins on them only for the minimum time i personally trust (a bit even for force majeure) only a few centralized binance exchanges, kraken, mercatox obviously i prefer decentralized ones (dex, swap, aggregators) like uniswap,1inch and forkdelta

[Alert31]

It's difficult to trust a centralized exchanges but we can't hide the fact that many are using this platform. Decentralized is good to use but it has a low or fake volume. I used cointiger before and one of my token got stuck there because of a very high transaction fee. Avoid using that exchange.

[bamb]

Some centralized Cryptocurrency exchange have proven themselves trust worthy!  Binance as an example have had devastating hack of it's website and huge funds were stolen.  However,  binance did not collapse,  binance was able to mitigate these loss through funds saved for such eventualities and became even stronger!  I will not trust centralized exchange with 100% of my portfolio but I  will still trust the trust worthy ones with 20% of my portfolio!

[triat]

Some centralized Cryptocurrency exchange have proven themselves trust worthy!  Binance as an example have had devastating hack of it's website and huge funds were stolen.  However,  binance did not collapse,  binance was able to mitigate these loss through funds saved for such eventualities and became even stronger!  I will not trust centralized exchange with 100% of my portfolio but I  will still trust the trust worthy ones with 20% of my portfolio!

only if 20% of these tokens are used in trading. If they just lie on the wallets on the exchange, this is very bad. In this case, only cold wallets should be used.

[santiPOGI]

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 have no idea about this platform dude, but for the well known exchange in the market I could probably give my trust in them.
And some of this centralize exchange I might be using it actually. And there is nothing wrong if we do use it especially if you are earnings
through with it as well. But I never hold a large amount of assets over it.

[Mpamaegbu]

Recently, I have not been trading on centralized exchanges and have kept as much money there as it’s not a pity to lose

A single isolated case isn't enough to blanket others in condemnation. Whether Cex or Dex, they're all controlled by the intuition of man. Man isn't perfect and as such we shouldn't expect perfection anywhere. I have heard about tokens getting hacked on Dexs. So, it's not as if Dexs are completely immuned from all that like a lot of people make it look. I trade on Binance from time to time and I haven't had any issues with it. Binance is a Cex and is rated 10 on trust score as the most secured.

[wayaneka]

I don't trust CEX but I need it for trading and to make fiat withdrawals, alot of CEX in the crypto market, and  I really careful to choose it, because if we put money there, that mean they has full control with our fund, and we have seen some CEX like MT Gox, BTC-E.COM, Cryptopia and Livecoin is closed and turn in to scam. I only use CEX which has the highest trading volume because these CEX is trusted by many crypto users. For long term investment, I prefer to stored crypto in my personal wallet. For staking crypto, I also avoid to use CEX, much better to make account on DEX or Personal wallet so that full control is belong to users, not the exchange and this is the most important thing in crpto markets because currently less regulation in crypto space.

[trauchot]

I trust centralized cryptocurrency exchanges, I didn't have any problems with them, you just need to use the most popular centralized cryptocurrency exchanges and you will not have any problems, but if you will use new centralized exchanges that were created just recently, of course there is a huge risk of losing your money that you will have on this exchange, so you always need to be careful when choosing any centralized exchange and just better to always use top centralized cryptocurrency exchanges.

[panjay]

I didn't trust as much anymore...cryptopia got hacked..my fund is gone, too lazy to claim it lol.

I just use it as a means to trade and withdraw to my own account for now. So if keep my fund on exchange and the exchange suddenly stop/hacked/seized etc that on me.

[Cryptomiles1]

Sincerely this is my first of hearing about this exchange, most at time we have to take appropriate precaution before moving our funds to CEX. Not all that are trusted that is DEX is really taking over.

[stomachgrowls]

Sincerely this is my first of hearing about this exchange, most at time we have to take appropriate precaution before moving our funds to CEX. Not all that are trusted that is DEX is really taking over.

There are lots of local exchange platforms out there and its normal that we arent aware of their existence since we do mostly focused on top tier or ranking like Binance,Coinbase etc.

It had been thousands of reminders about storing your coins in centralized platforms is never been worth the risk or not really recommended at all, no matter how reputable or known it is

you wouldnt know on when issues would come out neither sudden lock of funds and need for sure to pass kyc or to those exchange hack incidents might happen.
This is just basic but people never ever learn until it do happen and do cry and whine later.

[bitterguy28]

generally, I don't trust centralized exchanges (because they are not very secured) and prefer to use decentralized exchanges. But the major issue i have is that most of these decentralized exchanges don't have much volume and liquidity like the centralized ones.

Centralized exchange for decentralized currency , does it sounds appropriate? of course not lol.

Abnd besides this ask KYC in which we all hates as we want to remain anonymous at least in some areas of crypto investing.

[smyslov]

generally, I don't trust centralized exchanges (because they are not very secured) and prefer to use decentralized exchanges. But the major issue i have is that most of these decentralized exchanges don't have much volume and liquidity like the centralized ones.

The big risk in decentralization is when investors take out the liquidity, leaving you with a useless coin but it also happens on centralize exchange, if the coin losses trust from investors there'll be no buy order I also don't trust centralized exchange but it's something that we have to get used to it because how can we trade coins that we invest in if it is only available in centralize exchange.

[DOH!]

I personally believe in centralized exchanges a lot. Because so far no high-quality exchanger has cheated with customers.

Have you heard about Vebitcoin?

Don't expect financial freedom? Do you still wish to lose your sovereignty and integrity?? Lol, I use CEX as a compulsion because no DEX meets the liquidity and volume essentials. Some DEXs, Defi today have first run and many crashes as a hard-to-control item. So I'm watching Sovryn because of Vested and voting rights. I hope they can achieve their desire to satisfy the right of "Financial Freedom" for the crypto world.

[onecall123]

You have been warned if you are one of those people who follow blindly. Crypto gets bigger and more mainstream, so you have to be concerned about centralized exchanges securities and longevity. Right now, their security is not guaranteed. As a result, I am dividing my portfolio now. It is better to be protected before anything happens.

[stadus]

You have been warned if you are one of those people who follow blindly. Crypto gets bigger and more mainstream, so you have to be concerned about centralized exchanges securities and longevity. Right now, their security is not guaranteed. As a result, I am dividing my portfolio now. It is better to be protected before anything happens.

Choose an exchange that is insured, like a bank, they have insurance so in the event the bank gets robbed, you'll still get your money up to the amount fix by the insurance company, the same treatment should be done if we entrust our money into exchanges, we should diversify it to exchanges as that would help to minimize the risk.

However, if you really like to be fully safe, you should keep it yourself in a hard wallet.

[terrific]

You have been warned if you are one of those people who follow blindly. Crypto gets bigger and more mainstream, so you have to be concerned about centralized exchanges securities and longevity. Right now, their security is not guaranteed. As a result, I am dividing my portfolio now. It is better to be protected before anything happens.

We can always put our portfolios into a safer vault like hardware wallets and cold storages.
It's a different thing from trusting centralized exchanges as we trade crypto to another crypto or fiat.
As long as you don't put all of your eggs on any centralized exchanges and you just use them when it is necessary, that's what it should be.

[Maslate]

You have been warned if you are one of those people who follow blindly. Crypto gets bigger and more mainstream, so you have to be concerned about centralized exchanges securities and longevity. Right now, their security is not guaranteed. As a result, I am dividing my portfolio now. It is better to be protected before anything happens.

We can always put our portfolios into a safer vault like hardware wallets and cold storages.
It's a different thing from trusting centralized exchanges as we trade crypto to another crypto or fiat.

It's our money, we should find a way to handle it carefully, we have to understand the risk to be able to minimize it.

As long as you don't put all of your eggs on any centralized exchanges and you just use them when it is necessary, that's what it should be.

This is a golden rule in investing, everyone should follow it to minimize the risk unless an investor is a real risk-taker and still winning to lose everything he has. If we educate ourselves on the current market situation, it would be easy for us going forward as safeguarding your assets is just part of the basic things you need to do.

[terrific]

You have been warned if you are one of those people who follow blindly. Crypto gets bigger and more mainstream, so you have to be concerned about centralized exchanges securities and longevity. Right now, their security is not guaranteed. As a result, I am dividing my portfolio now. It is better to be protected before anything happens.

We can always put our portfolios into a safer vault like hardware wallets and cold storages.
It's a different thing from trusting centralized exchanges as we trade crypto to another crypto or fiat.

It's our money, we should find a way to handle it carefully, we have to understand the risk to be able to minimize it.

It is, and don't trust the exchanges to take care of it for you.

As long as you don't put all of your eggs on any centralized exchanges and you just use them when it is necessary, that's what it should be.

This is a golden rule in investing, everyone should follow it to minimize the risk unless an investor is a real risk-taker and still winning to lose everything he has. If we educate ourselves on the current market situation, it would be easy for us going forward as safeguarding your assets is just part of the basic things you need to do.

No matter how interesting it would be to leave your assets into exchanges, just don't be too confident doing it.

[stomachgrowls]

You have been warned if you are one of those people who follow blindly. Crypto gets bigger and more mainstream, so you have to be concerned about centralized exchanges securities and longevity. Right now, their security is not guaranteed. As a result, I am dividing my portfolio now. It is better to be protected before anything happens.

We can always put our portfolios into a safer vault like hardware wallets and cold storages.
It's a different thing from trusting centralized exchanges as we trade crypto to another crypto or fiat.
As long as you don't put all of your eggs on any centralized exchanges and you just use them when it is necessary, that's what it should be.

But transferring from time to time from exchange to your hardware wallet is somewhat hassle and does really involve fees from time to time but if you dont mind on spending some bucks just for the sake of security
then it could still be done or just really only good if you do make out that certain trade then pull it off in one go.

Its just a matter of self choice and its true that as long you dont put all  of your assets on centralized exchange then that should be fine.As long you are aware with the risk even how popular or known
the exchange was but dont remove out the probabilities of being hacked or some exit scam or something like that.

We can trust them but not giving out that 100% where you do make them as a long term wallet.

[DOH!]

Recently, I have not been trading on centralized exchanges and have kept as much money there as it’s not a pity to lose

A single isolated case isn't enough to blanket others in condemnation. Whether Cex or Dex, they're all controlled by the intuition of man. Man isn't perfect and as such we shouldn't expect perfection anywhere. I have heard about tokens getting hacked on Dexs. So, it's not as if Dexs are completely immuned from all that like a lot of people make it look. I trade on Binance from time to time and I haven't had any issues with it. Binance is a Cex and is rated 10 on trust score as the most secured.

Cex is the key piece in this arena, but the same issue of security is making investors appreciate a lot of things.  Not to mention, Thodex (Turkey), Fcoin (China), AXC (Australia) all ripped apart without leaving a trace, causing serious consequences for the market.  Dex is good but I think it will take a long time for the distance between Cex and Dex to be restored and balanced to the user.  While Cex has a lot of security concerns, Dex has too many problems with carpets and effects, volume, manipulation, ... It's hard to pick the perfect one and I trust Cex  will continue to be used in the years to come.  Binance, Huobi, Kucoin are my top picks.

[Strongkored]

You have been warned if you are one of those people who follow blindly. Crypto gets bigger and more mainstream, so you have to be concerned about centralized exchanges securities and longevity. Right now, their security is not guaranteed. As a result, I am dividing my portfolio now. It is better to be protected before anything happens.

We can always put our portfolios into a safer vault like hardware wallets and cold storages.
It's a different thing from trusting centralized exchanges as we trade crypto to another crypto or fiat.
As long as you don't put all of your eggs on any centralized exchanges and you just use them when it is necessary, that's what it should be.

Well, this can only be done by long term holders, but for regular traders who do trade every day this will be a little difficult to do. We can still trust CEX but first find out its reputation.
But the most unfortunate thing is that many think CEX is a safe place to store assets in the long term because they are reluctant to download a wallet or spend extra money to buy a hardware wallet.
I still trust some CEX especially my local exchange because I know the legality of the exchange.

[mrjoy15]

You have been warned if you are one of those people who follow blindly. Crypto gets bigger and more mainstream, so you have to be concerned about centralized exchanges securities and longevity. Right now, their security is not guaranteed. As a result, I am dividing my portfolio now. It is better to be protected before anything happens.

We can always put our portfolios into a safer vault like hardware wallets and cold storages.
It's a different thing from trusting centralized exchanges as we trade crypto to another crypto or fiat.
As long as you don't put all of your eggs on any centralized exchanges and you just use them when it is necessary, that's what it should be.

Well, this can only be done by long term holders, but for regular traders who do trade every day this will be a little difficult to do. We can still trust CEX but first find out its reputation.
But the most unfortunate thing is that many think CEX is a safe place to store assets in the long term because they are reluctant to download a wallet or spend extra money to buy a hardware wallet.
I still trust some CEX especially my local exchange because I know the legality of the exchange.

we have no option but to put our trust on several CEX exchanges. I have been go through several DEX and CEX exchanges, but CEX exchanges gives me best service and also give option to to store assets. However, I don't promote to store your assets on CEX exchanges but fact is there is lot of users already used to store their assets on CEX. Safety depends on you, and you know what suite to you. 

[terrific]

You have been warned if you are one of those people who follow blindly. Crypto gets bigger and more mainstream, so you have to be concerned about centralized exchanges securities and longevity. Right now, their security is not guaranteed. As a result, I am dividing my portfolio now. It is better to be protected before anything happens.

We can always put our portfolios into a safer vault like hardware wallets and cold storages.
It's a different thing from trusting centralized exchanges as we trade crypto to another crypto or fiat.
As long as you don't put all of your eggs on any centralized exchanges and you just use them when it is necessary, that's what it should be.

Well, this can only be done by long term holders, but for regular traders who do trade every day this will be a little difficult to do. We can still trust CEX but first find out its reputation.
But the most unfortunate thing is that many think CEX is a safe place to store assets in the long term because they are reluctant to download a wallet or spend extra money to buy a hardware wallet.
I still trust some CEX especially my local exchange because I know the legality of the exchange.

Do only trade at reputable cex's.
That's the only thing that we can do if you're not a long term holder and you need to put at least some hefty amount on those exchanges.

[ivankoh]

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.

Then there was the next sudden death of the Vebitcoi exchange. It is also within the cycle that the market panics afterwards. Users have refused to send funds to exchanges(CEX). Binance also has some cases but not necessarily risks. I still believe in CEX as a P2p sourcing measure. Dex cannot respond to this until this vulnerability is patched. I think DEX will be the perfect destination for the future of trading.
The volume of DEX will get bigger and bigger. It will definitely happen.
https://coinmarketcap.com/en/rankings/exchanges/dex/

[shoreno]

generally, I don't trust centralized exchanges (because they are not very secured) and prefer to use decentralized exchanges. But the major issue i have is that most of these decentralized exchanges don't have much volume and liquidity like the centralized ones.

The big risk in decentralization is when investors take out the liquidity, leaving you with a useless coin but it also happens on centralize exchange, if the coin losses trust from investors there'll be no buy order I also don't trust centralized exchange but it's something that we have to get used to it because how can we trade coins that we invest in if it is only available in centralize exchange.

this is what im afraid of more than the exchanges getting hacked because i love collecting random coins hoping that they will get a nice value and lots of this coins i hold have been abandoned because of lack of interest by investors or the coin is scam  but i never experienced to get hacked by using a centralized exchange because im not that active in buying or trading coins .

[Chato1977]

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

No I'm not and only Use centralized exchange when happens that my Coin/token only listed or tradable on that site but if not?

No will never make any trade in this kind .

I'm always for Decentralized exchange eversince i learn crypto investment/trading .

[Ever-young]

Centralized exchange are just at people's risk, but most of them are to be trusted, but it is better I store my crypto on my wallet than to live it on any centralizer exchange, decentralize exchanges charges less and you are always in control of your crypto.

[carlfebz2]

Centralized exchange are just at people's risk, but most of them are to be trusted, but it is better I store my crypto on my wallet than to live it on any centralizer exchange, decentralize exchanges charges less and you are always in control of your crypto.

Comparing the liquidity of centralized exchange and decentralized exchange then you would able to tell the differences which CEX are far way more that on what DEX does have which i do say to be pretty normal
since you can really benefit out on some things like trading fiat to crypto and making out conversion directly which you cant really be able to done on dex which its normal that people or the community would be
hanging out to this place most of the time.

Just remember that you shouldnt store your coin on these platforms for too long because you wouldnt know on when they would be hacked and its  just risky for you to consider out on making it as a storage for long time.

We've seen past events and situations about exchange hacks and it ends up for a total wreckage for those people who did deposit on it.

[Rabi3]

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 it's the right thing to do, they have the ability to lock your coins at anytime and you can't do anything about it, it is pretty scary if it happens to you and you have most of your crypto there, i for sure don't trust them with big bucks, maybe a few like you said.