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OP said he is using coinbase and kraken which means he has no problem with KYC.
Yes. I know.
For me, trading on an exchange that requires KYC to be able to carry out activities cannot be categorized as good because the purpose of people involving themselves with cryptocurrencies is for privacy even though real privacy is found in Bitcoin.
But there is a note that , even though these centralized exchanges are reputable and trustworthy , that doesn't mean they'll never collapse . So use them for what they were created for , which means CEX is only for buying, selling and exchanging . We should not misuse and abuse them such as using them to store our bitcoins or crypto assets .
I think we already know what exchanges were created for. If you don't use exchange as intended, stupid is a reflection of that person.
The incident that happened at a well-known exchange can be a lesson that exchanges are not a place to put money.
Not everyone is in this market for privacy, most people are in it for profit because what does privacy mean if you are poor? So I don't see anything so bad about us using a centralized exchange. Everyone has different life choices and goals, we don't need to discriminate against each other just because they are different from us.
By the way, many people always talk about privacy but I seriously ask, how many people do not use centralized exchanges? Do you use them?
Like I said, let's use centralized exchanges for what they were created for, that way we can use them without worrying about anything.