Post
Topic
Board Altcoin Discussion
Re: Do you trust centralized exchanges?
by
South Park
on 30/04/2021, 15:52:52 UTC
I think you heard the last news about the Turkish stock exchange:
https://decrypt.co/68703/billion-dollar-rug-pull-turkish-bitcoin-exchange-goes-dark
Customers fear a rug pull as Turkish crypto exchange Thodex abruptly halted trading.
At any time, money can be blocked for an unknown time.
Recently, I have not been trading on centralized exchanges and have kept as much money there as it’s not a pity to lose


The obvious answer is no, if you want to make a trade I get that but there is no reason to let your coins on the exchange for long, deposit your coins, make your trade and then get your coins out of the exchange, rinse and repeat as much as you need to, exchanges do not like this as you are not leaving your coins with them and they think there is something you want to hide, but this is simply to avoid scenarios like the one you are describing which unfortunately are very common.