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At this point, people who leave their stuff at exchanges deserve to lose it. Like, what else can drives the not your keys, not your coins mantra. CEXs are eith
by jonathan-adly 4y ago
At this point, people who leave their stuff at exchanges deserve to lose it.
Like, what else can drives the not your keys, not your coins mantra. CEXs are either greedy, or incompetent. Either way your “money” is not safe.
Of course, managing your own keys and being your own bank is work and comes with risks. It’s not for everyone. So, if you can’t or don’t want to do it. Then, perhaps Crypto is not for you.
- doorman2 4y agoFees are cheaper on centralized exchanges. Like with everything else in crypto, transaction fees kneecap most of the cool stuff.
- listenallyall 4y agoIsn't that a pretty lame excuse? In exchange for saving a few dollars, you're going to hand over the keys to your entire account -- or possibly your entire net worth -- to an unknown, unregulated, unaccountable corporation?
- doorman2 4y agoIt's not an excuse, just an economic reality. People prescribe value to things. The value of a typical transaction at a centralized exchange isn't worth the on-chain transaction cost. That's a problem with current blockchains, not a problem with the purchaser.
- anonym29 4y agoI can send thousands of dollars (with a 'priority' fee schedule) for less than a dollar in fees over the plain 'ol regular BTC network. It may be an economic reality, but it's a negligible one.
- listenallyall 4y ago> That's a problem with current blockchains So another "crypto fixes that" that really, it doesn't fix