What’s The Problem With This?
The main problem with centralized exchanges, which more and more individuals are now realizing, is that the exchange is in complete control. Beyond just setting up the trades, they also log everything themselves. This system means that you never actually own your cryptocurrency, as your digital wallet isn’t on the blockchain, but within the exchange. The recent FTX news has shed further light onto a potential danger of centralized exchanges. FTX was misusing user assets, with the CEO sending ...
What’s The Problem With This?
The main problem with centralized exchanges, which more and more individuals are now realizing, is that the exchange is in complete control. Beyond just setting up the trades, they also log everything themselves. This system means that you never actually own your cryptocurrency, as your digital wallet isn’t on the blockchain, but within the exchange. The recent FTX news has shed further light onto a potential danger of centralized exchanges. FTX was misusing user assets, with the CEO sending ...
