Warning to all lovers of CEXs.

[Darker45]

Honestly, I've never seen someone call themselves a CEX lover. I have a feeling that they'll move to another platform if it's convenient, they just don't accept the tradeoff that usually comes with a DEX or P2P. Some would argue that even DEX isn't free from malicious attacks, although CEXs are the bigger fish to try because there could be many security concerns with their operation.

We can only remind the average joe to never "trust" an exchange or any service to the point where they leave their money at their mercy for long.

I've also never encountered somebody who highly prefers CExes simply because they're CExes. Those who prefer CExes are normally after liquidity, volume, trading pairs, specific listings, and the like. It so happened it's CExes that can offer those.

However, I've encountered countless of people who may not necessarily be CEx lovers, as you pointed out, but Binance lovers--loyal Binance lovers. They're not even active traders. It seems they're choosing Binance simply because it's the most popular platform. That is, despite it being restricted in my country. They resort to VPN and alternative DNS just for the sake of sticking to it. Imagine risking your funds in a CEx that's even banned. Still, they're not CEx lovers. They're simply lovers of a CEx.

[Z-tight]

Honestly, I've never seen someone call themselves a CEX lover.

They may not call themselves cex lovers, but there are many people who believe that they cannot safely store their own funds and cex is safer for them, they believe that people who avoid cex are hiding something and don't want to pay taxes, that 99% of people would lose their funds if they store it in self custodial wallets, etc.

Such people can be called 'cex lovers'. There may be nothing wrong in using cex for trading because you are looking for volume, liquidity, etc, but doing any of the things in the first paragraph is self-sabotage.

[sunsilk]

I agree that it's better to use dexes than cexes, but there's something that both can't fulfill customer satisfaction. I think that ease is provided by the centralized exchange,s and they're easier to use.

Rather than the decentralized exchanges, it's the reason why it's got lesser users because of its complexity. The problem with many cex users are they think that it's fine to store their assets on exchanges.

But we all know that it shouldn't be used as that but only use funds that they're intended to trade.