Quote from: royalfestus on February 01, 2023, 11:01:43 AM

Quote from: maydna on January 31, 2023, 01:31:43 PM

Quote from: Sethrey on January 31, 2023, 12:03:05 PM

Quote from: CryptoYar on January 29, 2023, 03:47:24 PM

You/We can use centralized exchanges but only for trading purposes, other than that like keeping your/our funds in these centralized exchanges for any reason is wrong. Because you do not have the private keys of the wallets of those centralized exchanges management can freeze your funds at any time they want.

And can you tell me who the hell keeps its funds on the exchanges? There really are such dummies? Because I kept my currencies in the wallet from the very first day in crypto world and I never knew that someone does in another way.. Then they pay for their stupidity.

Of course, some traders keep their funds on the exchange and may use their funds to trade. But they only keep a small amount and the other funds in a separate wallet so they can control how they are used. We can't blame those who keep their funds in the exchange because they may have reasons for doing it. But hopefully, no one will get into trouble like yesterday's FTX case and immediately move the funds to their personal wallet.

As long as coin holders share custody with Centralised exchanges, the exchange's carelessness and insecurity will be everyone's problem, especially when the team behind the exchange is fraudulent as well. The ability to set up trade orders and P2P trade on decentralized exchanges could reduce the use of CEX, as there are currently no decentralized exchanges that offer such services. DEX needs to keep improving its use and trading since they seem more secure

We should really choose a centralized exchange that will not cheat or anything else. However, it can also happen in a trusted centralized exchange because there is a problem of greed among the employees who want to run away large sums of money from the coin holders or from the exchange itself. But many people still use centralized exchanges because they find what they want that they haven't been able to get from decentralized exchanges. And I agree that decentralized exchanges need to improve their service to users to have the opportunity to attract more members.