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noormcs5
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May 08, 2021, 05:21:56 PM |
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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. |
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South Park
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May 08, 2021, 08:00:41 PM |
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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. |
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martina14
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May 08, 2021, 10:40:26 PM |
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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. |
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Spack17
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May 08, 2021, 10:54:17 PM |
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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.
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Ebede
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Join hands and help me to grow everybody...
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May 08, 2021, 11:23:06 PM |
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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.
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leatutz
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May 08, 2021, 11:58:39 PM |
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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.
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XUR_TIP
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Activity: 227
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May 09, 2021, 05:15:37 AM |
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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
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ancafe
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May 09, 2021, 05:32:18 AM |
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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. |
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hari9981
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May 09, 2021, 05:54:50 AM |
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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  |
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xianbits
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May 09, 2021, 04:22:51 PM |
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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. |
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modem5673
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May 11, 2021, 02:34:45 PM |
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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.
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modem5673
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Activity: 252
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May 11, 2021, 02:50:15 PM |
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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.
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Yudhisthir
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May 11, 2021, 03:33:55 PM |
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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.
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sarmrakib
Full Member
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Activity: 1292
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Vave.com
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May 11, 2021, 03:41:16 PM |
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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. |
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DarkDays
Legendary
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May 11, 2021, 04:29:43 PM |
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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. |
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ubercool
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May 11, 2021, 05:03:52 PM |
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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.
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infer
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May 11, 2021, 05:10:52 PM |
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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. |
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Galley
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May 11, 2021, 05:48:50 PM |
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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.
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oscarftw
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May 11, 2021, 05:58:45 PM |
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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.
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karungbitcoin
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May 12, 2021, 12:05:42 PM |
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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.
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