When will you start losing trust for an exchange?

[DaNNy001]

The idea for this discussion come up as I been dey read wetin one of us been write for another topic,

This can not happen but they can not lose trust from the public unless they mismanaged their users funds.

Asides having a legal issue and mismanagement of person money, what other reason fit make you lose trust in an exchange?

Well aside from the exchange don already start to dey get small small complains how person wey carry know wether dem go mismanagement people funds until dem actually do so if you ask me, I think e go dey hard sef to even know exchange wey get motive to run with people money, I mean lets take a look at FTX wey crash with plenty people money wey dem come talk say na scam plan, dat exchange been get reputation well well and e no take series of complaint before the actual scam happen because I believe say if to say coma been don dey come out people for clear their funds well well before e crash abi dem claim say na hack.

Exchange get trust base on how smooth their operation dey go when people dey use their platform and if I see any exchange like binance wey things dey go well watin or how person wan come take doubt or lose faith except of one kind saga play out like the time wen dem force the CEO to actually step down as CEO.

[Belarge]

OP, from the very first moment I discovered that exchanges are third parties holding the keys to your wallet, I just forgot and ruled out trust in them  because they would lookout for signs and fault to hold your currency without you assessing it. They are centralised and are controlled by the government and this alone should tell you that they can easily betray and dance to the tone of the government to favour them ignoring the fact that the community made and supported them all through their little ways.
Never trust exchange with your funds and wallet or something important to you.

Making huge funds for ourselves will become very straight and convenient for us. Exchanges are complicated at this particular present frame in time. We should always apply caution when dealing with the system because the slightest mistakes will issued out losses which will become one of the devastating scenario to witness in the space. I know how careful I can be but when it comes to profits and losses, ensure that your profits percentage surpassed your losses ratio.