Quote from: bitcon on October 10, 2020, 05:17:33 PM

I trust some of them. Take, for instance, BitGo. Many users rate this wallet as the most reliable. Firstly, the security level of is very high — two signatures are required for the transaction, the keys are stored on the platform and on the server, before using the funds, authentication is required in two stages. Secondly, the funds are not only protected, but also insured, which opens up great opportunities for entrepreneurs.

I think BitGo is the exception. Considering that it's a multi-sig wallet, your funds are still safe even if the company ceases its operations in the future (please correct me if I'm wrong). But centralized wallets without such a feature bring additional risks to the end user. I'd personally stay away from centralized wallets provided by companies like Coinbase, Xapo, and Blockchain.com. Since you don't hold the private key, there's no guarantee your funds will be recovered after hacks, theft, or the company shutting down its "doors" to its customers. Always remember: "Not your keys, not your coins". As long as you choose your wallets wisely, you'll be able to prevent many undesired losses in the long run.

All in all, people will choose the type of wallet they seem to fit best for their daily needs. We cannot force everyone to use decentralized wallets, as not everyone has the same tastes. Most people prefer centralized wallets because they're extremely easy to use. With no handling of private keys or seeds, centralized wallets prove to be a nice entry point for the newcomer in crypto. As long as you never put large amounts of crypto on a centralized wallet, the risk of loss will be reduced as much as possible. Just my thoughts Grin