Post
Topic
Board Bitcoin Discussion
Re: Why does Bitcoiner still support the use of centralized exchanges?
by
jokers10
on 27/04/2023, 07:07:08 UTC
The only reason why I support or still keep on using centralized on Bitcoin or crypto is due to safely withdraw or convert my crypto into Fiat.
But if there would be other way for me to securely withdraw or convert crypto into Fiat without doing it in person then I would stop using centralized platforms.

It looks safety only until first problem with CEX: as any centralized financial project they consider user money in their accounts like something what they have a right to control. And it is just the most obvious problem which happens from time to time with many. Even big CEX sometimes scam and fail. And what is not less disgusting they lose and illegally sell personal data of users. And as many of them are dubious organisations without a proper state regulation it is not something unexpected at all.

It is not so easy and sometimes costly but I never pass KYC in crypto. I hope, will never be in need of that. What I wait is that most of spending can be done directly in bitcoin and there will be no need for anyone to use CEX or any other centralized third party.