With the collapse of FTX and issues across the industry such as Binance, BlockFi, Celsius, Voyager, etc. I want to know what exchange do you trust the most?
I know rule #1 is to move your crypto off exchanges and into your wallet, but lets honestly many people dont do that.
So what exchange do you trust the most for the future not to go under? It seems like FTX and other companiess were able to get away with so much because theyre not public companies which are regulated and have strict financial reporting obligations. What are the public company crypto options? Is it just Coinbase and CashApp?
As a general rule, never trust any exchanges due to their risky nature. There are tons of posts in the forum discouraging the use of an exchange as a wallet where you keep your BTCs inside it because in the past, most exchanges have been scammed and hack.
Though this may be the case, I personally enjoy using our local exchange in the Philippines (coins.ph) due to its ease and convenience. I can quickly convert my BTCs to our local currency and pay our corresponding bills with it. I can also purchase credits that can be used to various products and businesses with it.