Post
Topic
Board Service Discussion (Altcoins)
Re: Do you trust centralized exchanges?
by
DOH!
on 14/07/2021, 07:23:19 UTC
Recently, I have not been trading on centralized exchanges and have kept as much money there as it’s not a pity to lose
A single isolated case isn't enough to blanket others in condemnation. Whether Cex or Dex, they're all controlled by the intuition of man. Man isn't perfect and as such we shouldn't expect perfection anywhere. I have heard about tokens getting hacked on Dexs. So, it's not as if Dexs are completely immuned from all that like a lot of people make it look. I trade on Binance from time to time and I haven't had any issues with it. Binance is a Cex and is rated 10 on trust score as the most secured.
Cex is the key piece in this arena, but the same issue of security is making investors appreciate a lot of things.  Not to mention, Thodex (Turkey), Fcoin (China), AXC (Australia) all ripped apart without leaving a trace, causing serious consequences for the market.  Dex is good but I think it will take a long time for the distance between Cex and Dex to be restored and balanced to the user.  While Cex has a lot of security concerns, Dex has too many problems with carpets and effects, volume, manipulation, ... It's hard to pick the perfect one and I trust Cex  will continue to be used in the years to come.  Binance, Huobi, Kucoin are my top picks.