- 28 July
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Centralized exchanges are costing us our portfolios! This is why investors are running towards decentralized trading platforms!
Honestly, I am sick of their bulls**t. Centralized exchanges have never been safe enough, they will always be holding control on out assets, and I do not think anyone forgot about the Robinhood and GameStop incident, or the Thodex case. The main alternative for platforms like these is actually decentralized exchanges. Decentralized exchanges are financial platforms that allow their users to convert their digital assets, with the transactions getting recorded on the blockchain. And here is the main difference between the two options, investing in decentralized exchanges guarantees you the right to retain control over your funds. Another guarantee for investors’ safety is the ‘Know-Your-Customer’ policies followed by decentralized exchanges. Investors’ privacy is extremely violated when it comes to centralized exchanges, they are required to upload pictures with an ID verification and etc… meanwhile trading on decentralized platforms only requires a wallet connection, now which is a safer platform do you think? The trading volumes on decentralized exchanges are growing constantly, which is why we are witnessing a high number of platforms, like UniSwap, PancakeSwap, and Merrymen, who are willing to offer 10% of their tokens for all those who were harmed in the Robinhood – GameStop fiasco. What do you think is the most important difference between these two models? And which platform do you prefer? submitted by /u/ryuk_luvs_apples [link] [comments]