Re: Why are centralized exchanges still dominating the crypto space?
Centralized Exchanges CE still dominating Crypto because of liquidity, so it attract traders but Im sure CE will disappear soon with rise of Decentralized Exchanges DEX and Binance already realized this fact so they are working to launch a DEX.
Traders are leaving CE slowly due continuous changing of CE TOS , ask for more personal info ID etc.... Like what Bittrex did with its users , they change TOS suddenly and took Cryto coins as hostage until user provide complete ID + selfie above it
, Funny fact about Centralized Exchanges you can deposit unlimited amount of cryptocurrencies such as btc eth .... but you cant withdraw until you verified your account then you cant withdraw limited amount daily , CE are same thing as Banks .... above all that your coins could disappear if CE get hacked or owner exit scam like mtgox.
Your Key Your Coins , thats it.
Traders are leaving CE slowly due continuous changing of CE TOS , ask for more personal info ID etc.... Like what Bittrex did with its users , they change TOS suddenly and took Cryto coins as hostage until user provide complete ID + selfie above it
, Funny fact about Centralized Exchanges you can deposit unlimited amount of cryptocurrencies such as btc eth .... but you cant withdraw until you verified your account then you cant withdraw limited amount daily , CE are same thing as Banks .... above all that your coins could disappear if CE get hacked or owner exit scam like mtgox.Your Key Your Coins , thats it.