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RE: Steemit Crypto Academy Contest / S6W2- Centralized Cryptocurrency Exchange Platforms and Its Risks
Hello Brother,
Feeling bad to hear that your experience on Binance was not too good and you loss your assets. You're right that centralized exchanges have full access to our funds. They use our funds and make profit and when sometimes they mismanaged our funds and then loss them and we can just see thier face in that scenario and can't nothing more.
Don't have the key don't have the funds is well said by a legendary trader.
I think we have to move our funds from Centralized exchanges to Decentralized exchanges but there are little bit difficulties for newbies.
Definitely there are limitations, because it is much easier to use a centralized exchange, and in general people like simpler to use.
On the other hand, the security of centralized exchanges is higher, so it is another important detail.
Thenk you
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