RE: Steemit Crypto Academy Contest / S6W2- Centralized Cryptocurrency Exchange Platforms and Its Risks
Hello brother,
Nice and hard work from your side and you provide us with an excellent post.
I am fully agree that centralized exchanges are not trust worthy. After FTX we can't trust on any exchange because they can access our Data and Assets any time and like FTX they can use user assets any time and In case of bankruptcy they didn't have anything except a word "sorry".
FTX ruined the reputation of the Cryptocurrency as well as the reputation of centralized exchanges. I don't think so FTX will rise again it is dead now and Its FTT coin is now a meme coin as it haven't any use case.
FTX did a crime by using users assets and i think Government should back up the Users and provide them security against such cases.
Best way is to move your assets towards a decentralized exchange. Like you I'm also a believer of Cryptocurrency and it will rise in no time.
Please read my article too and give your precious comment.
Wow such a detailed remark we have here friend. Of a truth centralized exchanges are not always completely trust worthy, as they control our funds without given giving us our private keys. I prefer decentralized exchanges, as it is more safer when we all control our private keys. Thanks for your lovely remark and support friend, I really appreciate ❤️:-)
Always welcome bro... I also wrote a article on this topic I hope after reading it will add to your knowledge please find time and give your precious comment.
Yes my boss, I have done that already.