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Have We Reached The End Of Crypto Exchanges?
Posted
August 3, 2022
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72
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August 3, 2022
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0:54Now PlayingIs it time to move on from crypto exchanges? Check out the video to learn more.
Welcome back to Bold TV with David Grasso. Be sure to like, comment, and subscribe to Bold TV for all things Bold.
Cryptocurrency exchanges are failing, and some are keeping customers' funds. Is it time to move on?
For quite some time, the price of cryptocurrency has been plummeting precipitously. Voyager and Celsius are currently bankrupt and frozen, and the federal government is looking into Coinbase.
Some claim that the entire purpose of having cryptocurrency is undermined by centralized exchanges. And that's creating decentralized financial system so that people's money would be safe from the shenanigans of banking institutions.
Naturally, centralized crypto exchanges make it simple to swap crypto assets and keep them all in one location. However, things don't have to be that way.
Although you can still transfer your cryptocurrency from an exchange to a hardware wallet, you can still use exchanges for trading.
In this manner, your trading remains simple and is only loosely regulated, but you maintain complete control over your funds.
Are centralized crypto exchanges against the whole reason for having crypto? Let us know in the comments below.
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