Quote from: Ultegra134 on Today at 08:56:02 AM

Quote from: oktana on January 02, 2024, 09:32:29 PM

Well, I was rather talking about when the launchpad project goes live and gets listed and you trade it. What happened to me was trading a token that just finished their launchpad. That’s where I meant risk. So, I reread and understood that OP is talking about the calculation period of 30 days which happens before the token listing. However, there’s still risk because you’re doing this on a centralized exchange. What if something happens and there comes a story saying that the money in the vault where people staked their BNB has this or that issue or hack? Doing anything in a centralized exchange is by default a risk. Honestly.

Billions are being transacted through exchanges daily, especially on Binance, which has the largest volume of all. I personally don't believe that something can easily influence Binance, nor that it can simply be hacked one day and disappear from existence. Just because similar things have happened to other exchanges doesn't mean that they'll also occur on Binance. On top of that, if something like you described happened, it would have an immense effect on cryptocurrencies as a whole, as it's the largest exchange; it would put a huge dent on cryptocurrencies, and nobody would trust them or centralized exchanges ever again.

With that being said, us losing funds, which aren't a huge sum of money either, will probably be the least of our issues, as everything would start to collapse.

You sound so deep into their service. It seems as though they have really made you trust them till you do not worry about something that is actually valid. I use binance, so it’s not as if I don’t use it, but I don’t hold my funds there. No matter how trusted and how strong, it is a centralized exchange. By using any CEX (any one at all), you aren’t the one who is in complete charge of your money. I use them but I am so conscious about this. Hopefully someday it doesn’t happen and something goes wrong. Maybe a hack, etc. but it is actually possible even if Binance is the most popular or whatever title we may want to say.