Post
Topic
Board Nigeria (Naija)
Re: CEX is not the best platform in regards to holding Bitcoin for a long term
by
Antotena
on 05/09/2024, 19:01:49 UTC
To me the only difference between DEX is non KYC protocol that they possess and as such i don’t think anyone should treat it otherwise, store coins off any exchange.

You see this debate of centralized exchanges, many Nigerians are very guilty of this and they don't want to hear you out. I will say out of every 10 Nigerian crypto person, only 1 of them store their coin on their personal wallet, they used centralized exchanges most especially Bybit since it's the only best place with P2P where Nigerians currently trade, and the ignorance of centralized exchanges continue to circulate because that's what they believe in.

Sadly, some of them have become victims f these centralized exchanges. I was following one particular thread one crypto influencer was crying about to Bybit, he tagged them and begged other influencers to called Bybit out for locking his $7k for months now and he can't access his account. I have similar other complaints on X platform due to these exchangem. Assuming the coin were save on their personal wallet, this problems for no dy affect them right now, sy no to CEX storage.