Quote from: Rikafip on March 11, 2023, 09:31:02 AM

Quote from: KiaKia on March 11, 2023, 09:22:09 AM

I trust hardware wallet more than my bank account and Binance exchange, but if you are ask to choose between banks and Binance exchange which one do you trust the most?

I don't trust either (and for that reason I don't use either of those to store my money) but I think that my bank is less likely to go down simply because I trust my country's regulations more than I trust Cayman Island's + their willingness to bailout banks. After all, there's a reason why Binance is hiding (and why FTX was registered there as well) there and not somewhere with strict regulations.

Quote from: KiaKia on March 11, 2023, 09:22:09 AM

I throw this question to crypto friends around me and they choose Binance exchange.

No surprise there, that people still trust centralized exchanges even after everything that has happened lately and for that reason it will happen again.

I think if we really intend to safekeep our fiat and crypto forever, banks and Binance will never be reliable for that. They’re both centralized which means our funds will no longer be considered ours but theirs. But maybe, people will never learn actually and still continue to trust Binance and banks for their fiat and crypto, but expect that if these two will crash in the future, I don’t think people will be able to trust them again.