Do you trust centralized exchanges?

[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.