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H1N1
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May 01, 2021, 05:41:30 AM |
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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. |
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NeverSop
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HODL
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May 01, 2021, 06:05:07 AM |
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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. |
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DOH!
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May 01, 2021, 06:39:23 AM |
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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. |
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Maslate
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May 01, 2021, 06:46:38 PM |
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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. |
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Sihab76
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May 01, 2021, 07:59:42 PM |
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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.
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xiboothrezi
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May 01, 2021, 09:34:50 PM |
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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. |
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firmino10
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elysian.finance
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May 01, 2021, 09:51:57 PM |
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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.
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Swopon
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Gamdom
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May 01, 2021, 10:03:34 PM |
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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. |
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boty
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★Bitvest.io★ Play Plinko or Invest!
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May 01, 2021, 10:31:20 PM |
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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.
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aemma
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May 01, 2021, 10:55:34 PM |
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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.
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strunberg
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May 01, 2021, 11:01:52 PM |
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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. |
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ampu
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CLEARSIGHT- THE #1 BLOCKCHAIN JOB PLATFORM
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May 02, 2021, 06:22:41 AM |
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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.
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rajakulam
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May 02, 2021, 07:42:19 AM |
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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
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MonaLeeTracy
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May 02, 2021, 08:25:25 AM |
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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
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Williamm07
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$CYBERCASH METAVERSE
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May 02, 2021, 08:26:26 AM |
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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
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sulis sudibyo
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Volare.network
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May 02, 2021, 08:29:58 AM |
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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.
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SeaSoul
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May 02, 2021, 03:21:41 PM |
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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. |
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Atang Sulaeman
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May 02, 2021, 03:32:12 PM |
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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.
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SeaSoul
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May 02, 2021, 05:28:00 PM |
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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. |
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suzanne5223
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May 03, 2021, 05:27:39 PM |
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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 |
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