I don't believe you

[Not your key not your BTC]

what convinces you if dex is trust?

[1715287687]

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[1715287687]

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[reagansimms]

You don't know the owner, but what makes you sure to deposit bitcoin to exchange?.

what makes you sure that your Bitcoin arrived safely and was not taken away by the owner?

I always thought that,
same as banks, I don't want to save it for long time, because banks often go bankrupt, and the owner run overseas.

We know him through news spread on the internet and other social media, but he doesn't know us. We also don't have any familiar connections with him, so there's no reason for us to trust them. Exchanges are a medium for exchanging assets from fiat to crypto and vice versa, not a place to store assets. Various cases that have harmed exchange users have occurred before, these incidents always remind crypto users to always look for a safe place to store assets.
Crypto users must always differentiate between asset storage places and centralized exchanges, you can only use centralized exchanges to buy and sell Bitcoin, then withdraw all your assets to be stored in a safe place.

[Ayers]

You don't know the owner, but what makes you sure to deposit bitcoin to exchange?.

what makes you sure that your Bitcoin arrived safely and was not taken away by the owner?

I always thought that,
same as banks, I don't want to save it for long time, because banks often go bankrupt, and the owner run overseas.

We know him through news spread on the internet and other social media, but he doesn't know us. We also don't have any familiar connections with him, so there's no reason for us to trust them. Exchanges are a medium for exchanging assets from fiat to crypto and vice versa, not a place to store assets. Various cases that have harmed exchange users have occurred before, these incidents always remind crypto users to always look for a safe place to store assets.
Crypto users must always differentiate between asset storage places and centralized exchanges, you can only use centralized exchanges to buy and sell Bitcoin, then withdraw all your assets to be stored in a safe place.

You are right, centralized exchanges are places for us to exchange and buy and sell crypto assets and fiat currencies, they are not places for us to trust to store assets long term. Just because we lost faith in depositing money in banks because we didn't have full control over our assets and switched to bitcoin. But it's ironic that people don't trust banks but trust centralized exchanges when they are almost the same. It is investors who are abusing and misusing centralized exchanges, we should not blame CEX entirely.

[passwordnow]

We all learned from the past fiascos from exchanges like FTX, cryptopia, mt.gox, and others. When we deposit into these exchanges, we don't have full custody anymore of the Bitcoins that we deposit there or the altcoins that we deposit there intended to get traded. It is the reason why many of the good folks on this great community keeps on reminding not just the newbies but everyone that if you're about to deposit on any exchanges or any service that will not give you full custody of your coins, you have to remember that deposit the only amount that you're going to use there and not your entire holdings because you'll never know if they're going to be gone or something goes wrong in the process might happen. And for traders, there are a lot of dexes where you just have to connect your wallet to the exchange and you're good. But there's a risk on this one as well if you ever go and connect to an unknown dex.