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Author Topic: Do you trust centralized exchanges?  (Read 1955 times)
Chato1977
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July 17, 2021, 07:58:50 AM
 #241

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 .
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July 23, 2021, 07:57:10 PM
 #242

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.

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July 23, 2021, 09:59:18 PM
 #243

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.

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July 31, 2021, 11:57:10 PM
 #244

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.

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