CEX deserves all criticism but not the hate

[S A KHAIR]

CEX deserves all the hates it getting now but doesn't mean it has also not been helpful to bitcoin and crypto space.
I know that most issues that affected bitcoin and crypto space as a whole was mainly from Centralise exchange in 2022 but that can't just make us stop using it  instead we should be more cautious on the centralise exchange we use and since the whole issues happened , Government are going to strengthen the regulation of centralise and there will be more transparency from the exchange to their customers, especially with regards to custody of customers assets and proof of reserves .
Apart from the from this issues CEX has really helped in increasing bitcoin and crypto investors because most investors are not scared of buying coins from them because they are too many crypto scammers online and I myself got scammed last year,After that I come to the conclusion that if not CEX am not buying any coin.
Though I buy from CEX but I am always careful on the one's I use and I also use binance p2p. Some of the trusted one's are :
Binance
Coinbase
Kucoin
Kraken
Bybit
There are definitely others and they may be better than this I listed but this are the ones I have used
After the whole issues of FTX my advice is though buying from CEX is safer but storing all your funds there should be avoided and for holders just stick with DEX.

Honestly, I never hated CEX, even if FTX's demise happened, FTX is just 1 small exchange, and it doesn't represent all other exchanges. I have been using coinbase for more than 7 years and I have never had a problem with it, and I have not heard from anyone about coinbase solidity, they just spread the demise of FTX. It's like someone hates CEX and intentionally spreads Fuds about it.

[savetheFORUM]

The op seems to have explained earlier about using an exchange as a store of funds which is certainly not safe and should not be recommended. Safer storage is to store in a non-custodial wallet that you can manage yourself, but will it always be safe? of course not, because the main security is in the users themselves.
CEX is currently a bridge to connect trades and several investments to be made, as well as to convert Crypto to Fiat or vice versa. Must be selective in choosing a CEX that provides asset security and provides guarantees for assets to remain safe and intact.

If only the CEX operator are honest. Does not use the users funds secretly and then improve their security at all times then I think users won't have a problem at using them even if they store their funds on it for a long time but also the user must ensure that they are also fair and follows the CEX rules so that no problems are going to happen.

What CEX can do, DEX can too. Which is like you said to connect traders, So it would be better if you can just say that a crypto exchange are the ones who connect traders all over the world. This forum is also another example where traders around the world can connect. They can talk here and exchange ideas other than coins.

[Fivestar4everMVP]

I agree with the OP, in as much as we criticize Centralized exchanges for several of their issues like lack of transparency and the likes, we still should not hate CEX, CEX have indeed contributed greatly to the adoption of bitcoin and cryptocurrencies in our societies, like its said, everything, even the good all have their pros and cons, and as we castigate CEXs for the roles they played in some or most of the major issues the cryptocurrency market in general have experienced over the years, we should not also fail to commend them for their effort in taking crypto to several people in the world .   

[kamvreto]

If only the CEX operator are honest. Does not use the users funds secretly and then improve their security at all times then I think users won't have a problem at using them even if they store their funds on it for a long time but also the user must ensure that they are also fair and follows the CEX rules so that no problems are going to happen.

Covertly using users' funds was an extremely condemned and unforgivable way, it became the starting point of their downfall. and the impact of course affects all CEXs which are currently operating properly. The reputation of every CEX is questionable and regarding the security of user's funds they will be very careful. Nothing is safer when we store in our own private wallet, have full control and no one can manipulate. but also need to be aware of the security of the wallet. Dishonest CEX will only be trashed and abandoned like FTX.

What CEX can do, DEX can too. Which is like you said to connect traders, So it would be better if you can just say that a crypto exchange are the ones who connect traders all over the world. This forum is also another example where traders around the world can connect. They can talk here and exchange ideas other than coins.

The bitcointalk forum is a link for all crypto users to exchange ideas and discuss what is happening right now, such as the FTX crash and the bad security of CEX which misused user funds. it will all be discussed here and get a lot of criticism and condemnation, so CEX like that will be destroyed and all its users will leave it.

[KennyR]

I agree with the OP, in as much as we criticize Centralized exchanges for several of their issues like lack of transparency and the likes, we still should not hate CEX, CEX have indeed contributed greatly to the adoption of bitcoin and cryptocurrencies in our societies, like its said, everything, even the good all have their pros and cons, and as we castigate CEXs for the roles they played in some or most of the major issues the cryptocurrency market in general have experienced over the years, we should not also fail to commend them for their effort in taking crypto to several people in the world .   

CEX have played major role in the spread about cryptocurrencies. In specific only through CEX more number of people who hadn't got much knowledge about cryptocurrencies and technical skills have turned to be the part of cryptocurrency network. Often we used to see problems out of the CEX, for that we can't come to conclusion it isn't necessary for the cryptomarket.