Should We Be Expecting The End CEX Soon?
Once again, another not so strong crypto soldier gave me the feeling that he is losing hope in crypto because of the crypto market crash that has been happening due to the centralised platforms collapsing and how it has been affecting the crypto market. I told him to look around the collapse and crash, its only happening to centralised platforms, I can’t think of any decentralised platform that has crashed. Its just CEX, but still, this is supposed to be a wake up call that people should stop leaving a major percentage of their assets on centralised exchanges.
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Centralised exchanges has their terms and conditions which is extremely too long and we usually dont have patience to read that due to our short attention spam, but if you take your time to go through it, you will see that there are terms and conditions on these centralised exchanges that protects them more than it protects you. So you have to be careful, I am sure that when another big time exchange collapses, the whole world will learn their lessons by force. Everyone is feeling smart because the crypto exchange they left their money in hasn’t crashed or collapsed yet. CEX exchanges are no different from the bank, the difference is the product, they are as worst as banks, so people need to be more careful with CEX. CEX is supposed to give you access to get crypto easily, buy, sell, and swap not store.
I can’t speak for the world, I can’t say that everyone will learn their lessons eventually, but I can speak for myself and the reason I am choosing decentrlisation and avoid being a victim of having their major assets locked up to a centralised platform. Hive taught me better, with a full decentralisation exposure, I was sold that this is where I belong, it will teach you how independent and how to be self responsible with your own assets through the numerous keys you are given.
Looking at the future of crypto and how companies have collapsed, do you think centralised exchanges have future in crypto anymore. Except the new crypto noobs who haven’t experienced the bad side and crypto crash, but then, the emphashy will be higher on the risks of using centralised crypto exchange. soon exchanges will be reporting and recording high drop in which people store their assets on their exchanges.
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