Post
Topic
Board Bitcoin Discussion
Re: Will there ever be any safe centralised exchange ?
by
Altryist
on 04/12/2022, 16:44:13 UTC
Centralized exchanges are not safe anymore so people should not be placing their funds on it. Not just because of the FTX event, but because centralized exchanges have low level of security and privacy which means our money will be in high danger if they will remained in them in the long run.
Centralized exchanges have never been secure, not before, not now. The reason is very simple, if you store your coins on the CEC, then these coins are not actually yours, you just can see the balance that the exchange displays for you, but in fact you have no guarantees that you will be able to withdraw your coins at any time when you will need it. In addition, you may be required to pass verification, which is also not very good.