Proof of reserves is designed to get exchanges demonstrate transparency by proving that customers deposits are safe in their possession. In an industry riddled with uncertainties and fraud, the need to reassure investors that their funds are safe cannot be overemphasised.

In a bid to raise transparency and trust in cryptocurrency exchanges Proof of reserves allows customers and auditors to indeed verify that exchanges retain the funds they deposited in them.
Unfortunately only a handful of exchanges currently offer any kind of proof of reserves for their customers; while some cite security, cost and competitive disadvantages for their failure to release their proof of reserves, the bold ones have gone on to release theirs.

As a trader, do you feel safe using such exchanges that haven’t released theirs or should the more transparent ones be given preference?





Imagine being able to verify with your own eyes that the exchange you're using actually holds the funds it claims to have. Exchanges that offer proof of reserve empower you to see for yourself, building trust and confidence in the platform. so hell yeah I'd entrust my assets with such exchange tbh

You'd have to move the thread to altcoin discussion. Should be more appropriate given that it's about DEX.

For DEX, I recommend popular ones like Uniswap since their code has been fully audited (this doesn't mean it's hack-proof btw). CEX is not recommended except you need quick on/off ramps fiat services which most CEX offer out of the box. For DEX recommendations, Popular ones like Uniswap, 1inch, etc should do just fine.

I overheard my coworkers discussing the idea that new investors in crypto cannot make profits without possessing trading skills. I would like to initiate a discussion on whether this claim is true or false. In my view, this belief is a false notion that is spread by individuals who want to discourage those who are curious about investing in crypto. What is your perspective on this topic?

Guys, I mean what other ways can newbies benefit from crypto investment without having to be a day trader or a professional trader. Because I believe there are other ways to earn aside from trading.