Re: Are exchanges evading proof of reserves unsafe for users?
Proof of reserves ...//:::,,,
As a trader, do you feel safe using such exchanges that haven’t released theirs or should the more transparent ones be given preference?
As a trader, do you feel safe using such exchanges that haven’t released theirs or should the more transparent ones be given preference?
I don't know why people are so suspicious of exchanges and not of banks, you ask a bank for their proof of reserves, no.
The same happens with casinos, some show their profits and ability to pay, but... it's a number on the screen, the same happens with exchanges, even the regulated ones, reciently Binance hid the reality of ability to pay with some assets, in fact I think he has a fund of $3,000,0000,000 ; oh shit what a huge number, it must be read incredible on the screen.
That gives you confidence, if, well, you end up "taken by the balls", read the list of Exchanges that have pending payments due to different circumstances.
Please! you may understand, trading itself is defined as a high risk activity for the assets available, but the The issue is that you are at risk from the moment you deposit them, even if you do not make a single transaction, that is what you have to understand and live with it.