Quote from: Smack That Ace on February 12, 2023, 01:47:28 PM

To be fair, when it comes to a centralized company or project run by one person or organization, there is no such thing as absolute safety. We accept their use means we accept the risk if something goes wrong. But currently for the market, we don't have too many choices, if we don't use them, there is almost no solution for us to choose. So always be ready to take risks and use them wisely to minimize the risk.

Most people don't care about the risks of centralization, as long as they get convenience in the long run. After all, the vast number of crypto users aren't that tech-savvy enough to understand the true benefits of decentralization. CEXs won't be going anywhere, especially when they dominate a large portion of the crypto market. If you really want "safety", just avoid depositing large amounts of coins in a centralized exchange. Only deposit what you're willing to trade in a day.

I hope that DEXs rise in popularity after the downfall of FTX. They might be slow and expensive to use sometimes, but their level of security is beyond compare. Developers are improving scalability for underlying Blockchain networks, so it should only be a matter of time before DEXs become a "force to reckon with". Who knows what would be the next centralized exchange to collapse? Just my thoughts Grin