Do you trust centralized exchanges?

[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.

[1715326989]

1715326989

[1715326989]

1715326989

[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.