Recent event: Stay away from centralized exchanges (FTX, Binance, etc), use DEX

[TommieSang]

There are different situations here, I guess. First, if you're not buying bitcoins for trading, but for storage, then you'll want to put them in a hardware wallet. Second, if you're trading, put it on an exchange. I trust Biance at the moment. I believe it's still safe.

[mk4]

Most of the time, my coins will be stored in the wallets of decentralized exchanges, such as METAMSAK.

1. MetaMask isn't an exchange, nor is it decentralized. It's just open-source(which is totally fine)
2. You can't really store funds on a decentralized exchange like how you'd store funds on a centralized exchange

[Kingkongs]

This should be a welcome development to crypto newbies and existing customers, Centralized exchanges ain't really the best way to do things and store your coin, as a matter of fact, I always tell people, buy and sell Within some days, if you must hold, then let it be on your wallet and not on centralized exchanges. Honestly I'm not a fan of Centralization , There's just so much toxicity I'm them

[dansus021]

I doubt that, no one saw this FTX crash coming and thanks to CZ for letting the whole thing out if not it would be much worse later. I believe that such incident will keep happening, it's not the first time and it won't be the last.

Also this is a perfect time for such a crash since we are already in a bear market, tell me, is there any bear market in the past with good news? It's always full of bad news.

Dex exchanges are not 100% safe as well but they are better than Centralised exchanges, now even Binance exchange is not safe because it's also a centralised exchange, I believe that's why CZ planned the whole SAFU Fund, he knew something could go wrong.

Well you kinda true but if this keep happening we as "customer" will be not feel safe right to do transaction in centralized exchange

and second is not true I actually find a bunch of good news this, was the recent one MiCa Legislation Good news for crypto player in Europe Good News project to accept bitcoin Goldman Sachs and MSCI Are Working on A Crypto Classification System

but CZ is far that i know is really fight with their SAFU Fund to keep centralized exchange look good especially binance

[cheezcarls]

What's funny is that this event was a repeat of history — sort of like MtGox v2; whereas FTX, an exchange that people trusted a lot(just like people had heavy trust on MtGox back then), ended up having insolvency problems(presumably, things still aren't 100% clear) in the end.

This problem has been around for many years. I have never trusted centralized exchanges. The centralized exchange is just a channel for me to realize my cash. Most of the time, my coins will be stored in the wallets of decentralized exchanges, such as METAMSAK. FTT just told us once again, hurry up and leave, stop playing contracts, leverage. The result is only bankruptcy, and I'm talking about our own assets.

Same here. Usually I just transfer funds from my non-custodial wallet to Binance for the purpose of converting token to stablecoin via spot trading and to fiat through P2P. Yes, it’s just a channel for me to cash out my cryptos.

There’s no way I could trust these CEXs in storing my assets, not even the juggernaut named Binance. DEXs however have some flaws like delay of transactions and higher trading/swapping fees.