I was wondering if there could still be any safe centralised exchange in the blockchain industry. Of lately lots have been unveiling itself and centralisedexchanges are at the end of it all. Does it mean that these centralised exchanges that are in existence lacks the capability to safeguard assets and funds after attracting investors and traders to their platforms for engagement and activities?
How do you explain these things to the people whom have entrusted their funds and assets to you for safe keeping hoping that what they gave to you is under safe care only to wake up to a sad news of their assets being stolen by hackers. How do you explain all these.
At first identifying the problem is a basic course for rendering solutions. If these problems are not identified immediately by the exchanges for quick remedy then who's to be blamed for it. Do they really do constant check on their service to know their lapses, if they do, do they identify it immediately with utmost attention? Do they do a constant check and evaluation on their staff and mechanisms.
With all these said, what are your opinions on this subject matter as I feel this needs to be looked into for possible measures to be taken for so as to further prevent or minimise the rate at which exchanges get hacked or being careless with investors and traders funds.
Personally none of them anymore. Its an obvious reason that centralized exchanges are not meant to be trusted by us since they will only take advantage of our funds and use them for their own progress just like what centralized banks did to our deposits and let others borrow it so they can grow their own business while leaving our money with just a very little interest. So sad that a lot of people have been blind on that and until today, people are still trusting centralized exchanges even after the scandalous event of FTX.
Its never been safe since in the first place yet you arent the owner of those coins once you had deposited them into the platform or exchange which it would really be just considered to be risky on any
angle. As long you dont possess its keys then its never been considered as safe but we cant just avoid not to make use of these centralized platforms considering into their usage and relevance
in making up trades in between stablecoins or fiat directly with those cryptocoins that you do have.This is why its always been recommended
that you should pull off your coins once you had done trading and never let it side nor park for a very long time.We do know the probabilities and
consider out on trying to avoid as much as you can.