CEX

Low_Acanthisitta4445

Yeah those promos weren’t the only reason I used Binance. However they have also removed all leverage and margin products. In fact they have removed all functions other than basic trades now they have even removed fiat on/off ramp so they are really offering me very little now. I have a smaller personal wallet that I use to trade & use pools on Pancake Swap, may move more over to that wallet. I tend to keep my stuff spread around several CEX, DEX, hot and cold wallets. Even though I don’t have a huge amount invested I like to know that one hack, or one exchange going down won’t wipe out a large chunk of my total stack.

furbess

Ah OK, you'd only really get the promotional on CEXs. Aren't they usually not really worth it due to only allowing you to stake a very tiny amount for a high APR? Worth noting that the non-promotional stake rates you get on CEX's are also often smaller than staking it yourself. Free crypto for the exchange basically. So you may find you get more by staking outside of a CEX anyway that doesn't offer promos.

CharlieManson67

Honestly though what do you mean I’ve been scammed? I seriously have no idea what I’m doing here and added £45 to CEX app. It’s saying that I need to make it up to 0.002 (like a couple of pound at the most) I’ve tried going through the help channels and they told me to download the trust app which was no help at all. I’m certainly not gonna scam someone out of less than £2. I was trying to send to ASAP market

CharlieManson67

Scammed how? I’m certainly not scamming. This is the CEX app

BrocoliAssassin

He should have just got caught in the USA. The judges here have been lax on all the CEX and wealthy criminals.

Dull-Wear-3286

Avoid both. Avoid all CEX.

Leitoh97

The qr is a good idea, an extra tip, if you have binance it is the same qr for any coin that can be deposited in ERC20 or BEP20 (ETH or Binance chain), for example. If someone wants to deposit you BTC, ETH or USDT is the same qr, but the should send cryptos through the eth or bnb network. If they send through bitcoin lightning it's other qr. Last tip, any network that derives from ERC20 uses the same qr, like polygon which is an L2 of ETH. I know that here people aren't very supportive of CEX like binance, but you have a single wallet for all the coins and it is easier to keep control, then you can withdraw everything the same day at night.

partymsl

The US fucking with CEX may just be bad for the shortterm as people in the long-term will switch to DEX, which is a lot better.

Innit4tech

It seems like they just want to target crypto in general. They can't take bitcoin to court, so any CEX they think they have authority over is in the crosshairs.

Alanski22

Coinbase being heavily targeted now even though its probably the least sketchy CEX

SoylentYellow05

Self custody done properly is anyway. Self custody done poorly is more dangerous than holding on a CEX.

IcyLingonberry5007

I would recommend doing extensive research on blockchain protocols and self custody before making any commitments.. I found coinbase to be very user friendly when it comes to a CEX (centralized exchange) with kyc.. You will need to upload your identification card and other such personal info.. Primarily a suggestion for US investors just starting out due to ease of use.. Probably your safest bet is to stick with btc & eth.. Personally i have a high risk tolerance so i hold the majority in alts.. Self custody when possible for added security and full access to your holdings.. These are uncertain times..

AdorableClock8189

Brav if you have your hodl in a CEX ur asking to get rekt, self custody is crypto101.

Machete521

Little concerned my eth over arbitrum has shown up in my CEX yet...

rarerareflame

Hopefully all this volume starts to get some CEX attention

BlindestofMonks

I don't particularly like CEX's but CB is probably hte hardest to take down of them all. I'd still take out some of my coins if not all

mishaog

You learn nothing about CEX after all this time? There will never be the safest one

Eisernes

Do you have proof of that predatory accusation or do you just assume everyone is as scammy as your average crypto bro? Fidelity says it has the BTC and ETH to back all of this up. Unlike all of these exchanges, Fidelity has proven itself trustworthy and has a lot more to lose than a couple billion in crypto blue chips if they are found to be liars. They have trillions under management simply because people trust them and they do what they say they will. This is Fidelity listening to its customers, not some CEX attracting desperate people with wild claims of 20% staking on an asset that will lose 50% of it's value that doesn't exist anyway.

No_Concentrate2892

Kraken, binance, DEX, CEX

Gettingby74

I would imagine if there is to be an airdrop it will be based on the tokens you hold on the L2 wallet/exchange, but all of the airdrop talk is just maybe at this point. Best to move them off a CEX either way to keep them safe

Parush9

Same here it’s the only CEX i have been using for good while .

Parush9

I agree with you there . But also at same time White House literally did shit on crypto.SEC is just enforcing CEX to register with them and operate within their boundaries. This will also be good for space in long term . Folks are learning more about self custody and DEX . Decentralization & Blockchain Tech is here to stay .

sasquatchfrown

The vast chasm between Binance and BinanceUS is always wild to me, and not overstated in anyway. The US version platform is just garbage in nearly every way. Gemini is my go to - The whole Genesis b/k was definitely a blow, but they’re still top notch for a CEX.

liquid_at

Especially since the SEC said they have no issue with staking, but if Coinbase is acting with Depositors money, they need to comply with the regulations, register and show that their own funds and customer funds are stored in different accounts. They also force them to be transparent about what they do with their users funds. None of that is a problem for me. I hope the SEC forces them to comply with those rules, because they are the absolute basic of professional work. But when a CEX refuses to be transparent, my alarm bells ring. Crypto is based on fundamental distrust of everyone. I do not trust banks and I do not trust exchanges.

Soil_Electronic

Try selling on a CEX?

irockalltherocks

Buy on a CEX for the lower fees, then transfer to a cold wallet.

AcidoBasico

If you are gonna stake ETH, i would rather have it myself than trusting it to a CEX. But do some readings before because trusting yourself is a lot of responsability

goblomi

I mean you could go kucoin>Monero>personal wallet>new kucoin account. Swap for xlm and send to your preferred CEX to cash out .

I_AM_TRY

CEX only deal with authorities. Have tried multiple times with hacker info, they want only to deal with police via warrants.

pizza-chit

If the Bitcoin was bought from a CEX, it can easily be traced back to whoever did KYC there

mishaog

But CEX have the lowers fees here

RiseBasti

The bad thing about buying crypto without CEX is the fees. Their fees are in % and can get quite high, but I can buy on CEX and pay a fixed price for each transaction, which saves me a lot of money

yuruseiii

Important to note that onramps like Moonpay charges a 3% - 5% fee on purchases, so what you'll get never matches what's shown on apps like CoinGecko. But for those wanting a non-CEX option, it's a solid alternative.

zesushv

Otherwise, then CEX are completely useless.

mishaog

I'm still amazed on how stupid are these hackers to go and cash out in a CEX, more amazed that they aren't in jail for that. Maybe they pay other people to use their CEX with KYC?

dossier

Probably the best move for the hacker. Not sure if this is still the case but KuCoin has for a long time been known to freeze XMR withdrawals at random for individuals. The reason is unclear but people suspect that KuCoin, like man CEX, are lying about the amount of XMR in their vaults which artificially deflates the price since supply is inflated. There have been many events where the XMR community attempts to organize mass withdrawals of XMR to prove this but I don't think any have definitive proof. Or I just missed it.

PMme10dolarSteamCard

This is how you do it. Coinbase is becoming a favorite CEX

liquid_at

And you are 100% against anyone verifying that what coinbase says is true, because you prefer the type of "trust me bro" that SBF also gave everyone? Imho, every single centralized firm that holds customer funds, needs to be regulated. If crypto ever wants to succeed, that toxic idea of "private companies handle your money for you" needs to die. the only reason we need a CEX is because banks won't allow us to purchase crypto directly. Anything more than Bank => CEX => Wallet is an attempt by exchanges to force you into a centralized system that is 100% against the nature of crypto. The second banks adopt CBDCs, CEXs lose their market. The second you can buy crypto from your bank account and then leave it in a decentralized ecosystem, no one needs CEXs anymore. Imho, they are just temporary.

Gr8WallofChinatown

This is why KYC on CEX is important

salmaa4321

He's best bet is to contact cointelegraph or some good crypto journal and send all the evidence, this will make the CEX worried about their reputation, and maybe they will freeze the assets.

NotAdoctor_but

Kraken has hq in US, not in some shady island. Kraken CS is active on reddit, often helping people directly here in /cc if they have problems with their platform. Kraken CS is the fastest for any CEX, answering on average in a few hours. Kraken likes moons. People then ask why is Kraken so popular here... idk maybe because they're doing a great job ?

evoxyseah

Woah, hopefully KUCOIN could help. Also, to be fully independent from CEX we need to manage our keys properly! 300k is way more than my net worth. I don’t think I even have 10% of that….

anythingbutwildtype

These SEC thugs need to show their teeth and come after the millions of investors. They want to sooo bad, but they don’t have the manpower to enforce a population, so it’s easier to go after a CEX. Show your teeth SEC come after us!

HandlessOrganist

I like both. A win for the gold column is that gold can sustain decades or an indefinite amount of time with the mining cost being higher than the unit cost. If gold mining is to cease operations due to the mines continued losses, the gold still exists. All gold mining in the world can shut down if gold mining becomes unprofitable for (example) 20 years, but the trading of gold can continue during the mine shutdown periods. If BTC is to stand the test of time of 5000 years like gold has, it will eventually encounter a period of at least (the example of) 20 years of unprofitable mining. In this hypothetical period, a miner opens on year X, but loses money each year from X+20 years, and the BTC network will need to have willing volunteers to continue to validate transactions at a loss during this long BTC winter. Those willing participants will dry up, causing more centralization, more exposure to a 51% attack, and worse case, no more altruists willing to take a personal loss for the network’s gain. No incentive for bitcoin miners to mine/validate, your BTC ceases to exist for on-chain transactions. You could still trade on a CEX’s platform, but no on-chain activity. With gold, once that thing is out of the ground the mining can stop forever, but you’ve still got gold that can trade forever.

pbjclimbing

> The exchange says no other services will be affected by this change. Isn’t this the entire point of a CEX as a fiat on and off ramp?

bananainbeijing

Kraken customer support is top notch, especially if you're an institutional client (we use them for our Company). CEX is good for trading, and on-ramping from fiat into crypto. If you are a buy and hold type person, then just buy with Kraken and withdraw onto the blockchain. DEX transactions will cost you more in gas fees, especially if you are trading frequently. Maybe consider layer 2 if you want to do more trading.

Lost-Record

In the past 2 years I’ve slowly transitions from coinbase to binance.US to Kraken and I gotta say I’m sticking with kraken moving forward. Love their platform. Plus they are ten only CEX in the US that still has XMR listed 💯

JadedDependent5894

ARB will be listed on CEX and DEX

Parush9

They thought clamping down on banks will actually shake crypto but outcome wasn’t in their favor. So now they are going after CEX which was long time coming . NY AG also did same to another CEX recently. Whitehouse also decided to shit on crypto at the same time . They will force focus towards CBDC as alternative option . These all seem kinda co-ordinated work but what do i know . This is just another phase of real stress test for crypto . Coinbase won’t go down just like that . They have been building defense budget as well . At the most they will pay fines and come to terms with SEC . Until then best we can do take self custody of crypto and chill .

SimpleReindeer221B

Staking on a CEX is still risky

Main_Sergeant_40

The next European CEX

Odysseus_Lannister

I agree with this, holding them accountable for their shilling isn’t a bad thing. It’s the other things where they’re coming after every CEX and many PoS coins where the overreach is happening.

The-Francois8

I mean this is like the 17th CEX to implode in the last 12 months. It’s kinda hard to have any ability to be shocked at this point.

kumAaaae

This is scary. CEX are so unpredictable. Best to buy and move them over to a personal wallet.

Elocorem

DEX will never replace CEX. CEX is the only easy way to have a fiat on ramp

zdfasdfasf

Wait till they done with CEX, they are coming for DEX.

BlindestofMonks

They're Kraked, for real, it's the best experience I've had with CEX's since I've been in crypto and we're going for 10 years now so it says a lot PS: KRAKEN WEN MOONS

Parush9

One crazy day SEC went all in against influencers, celebrities, CEX . On bright side Moons were distributed , free avatars dropped good day indeed .

Odysseus_Lannister

We all are, but a big CEX listing is gonna be hard given Reddit’s doubling down on their TOS. Much more likely to land a big DEX like uniswap or 1inch

Sheeple9001

Wait for ARB, every CEX going bonkers.

HerrW00dy

The SEC going after CEX

HerrW00dy

Wow, never thought they would go after the most regulated CEX there is. It's time for major crypto companies to leave the US. Unfortunately, I love in Europe and we are just doing the same, only a "light" version

Parush9

It’s just another route they are taking to introduce their CBDC . They just got more reason after Luna , FTX crisis to crackdown on CEX . They have always been very vocal about it for long time already . It’s a high time we start focusing more into DEX and Self custody. Regulations will come after dust settles down . Let’s see there will still be more news to follow up with .

futurevandross1

USA making China look pro crypto. Just ban it instead trying to slowly kill it. DeFi attack = in progress Crypto banks = Gone. CEX's = Lawsuits every other day.

MikeMiller8888

As much as people hate them, Coinbase and Robinhood looking pretty good right now for CEX’s. Disclaimer: ALWAYS withdraw your BTC (and any other crypto) and put onto cold storage as soon as you are able with any CEX.

Parush9

It’s a clear and loud message a crackdown is coming for CEX . Better off holding your coins in DEX or cold wallet . This could actually turn into real stress test for crypto than those banks failing .

Helpful_Dragonfly_26

The only effect is that newly accumulated ALGO during a governance period is not yielding until the next period starts … because any true Algonaut will commit their ALGOs directly without a CEX middleman.

Parush9

Yup looks like incoming crackdown for CEX . It’s time to move everything to ledger i guess .

JuicySpark

You're forgetting to store your coins in a cold wallet. Else, you aren't safe using a CEX.

Katamari_420

Just make sure to practice safe CEX and keep your seed safe

Low_CharacterAdd

If there's a run on tether and they don't have the funds to equal what's minted, what do you think going to happen? CDC is still standing after CEX run I personally don't think tether can survive, but to each their own.

cowboy_shaman

I found it cheaper and quicker to use another CEX to on-ramp. * Buy BTC and send to Kraken. * Cash out as USDC and send to Coinbase

ineedmoney2023

I would just ask him for his btc address then transfer it to him. Let him choose his own wallet or put it on a CEX as he sees fit.

FluffayPenguin

**It's not staking. Please stop calling it staking.** It's rewards from governance packaged in a black box by a centralized exchange. It's not direct governance either. When users remove funds from Algorand governance, the CEX has to fake the interest amount. They weren't clear about that which is why they're in the crosshairs by the SEC. They're trying to avoid the same thing that happened to Kraken. Kraken had an interest-bearing product based on staking, but they didn't stake directly. Thus is was a security.

FluffayPenguin

**It's not staking. Please stop calling it staking.** It's rewards from governance packaged in a black box by a centralized exchange. It's not direct governance either. When users remove funds from Algorand governance, the CEX has to fake the interest amount. They weren't clear about that which is why they're in the crosshairs by the SEC. They're trying to avoid the same thing that happened to Kraken. Kraken had an interest-bearing product based on staking, but they didn't stake directly. Thus is was a security.

CointestMod

#Polygon Con-Arguments Below is an argument written by MalletSwinging which won 2nd place in the Polygon Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. Submit an argument in the Cointest yourself and earn Moons if you win. Moon prizes are: 2nd - 600, 2nd - 300, 3rd - 150, and Best Analysis - 500. > Polygon is a layer 2 scaling solution for Ethereum that grossly reduces gas prices. It does so, however, at some costs which I believe will not make it a good long term play. > > The first issue with MATIC is ease of use. There is one CEX (gate.io) that allows MATIC withdrawals onto the Polygon network. I actually think binance.com might allow this too, but as an American I can only use binance.us which does NOT allow Polygon withdrawals. Gate.io is not a user friendly exchange which means that anyone using it is likely experienced in crypto. > > New users or first time Metamask users will need to learn to navigate the Plasma bridge which can be both daunting and expensive if you make mistakes. For this reason adoption will stagnate. > > The second issue with MATIC is centralization. According to this article ([https://gettotext.com/polygon-centralized-the-largest-wallets-hold-the-majority-of-the-matic-supply/](https://gettotext.com/polygon-centralized-the-largest-wallets-hold-the-majority-of-the-matic-supply/)) the top 10 addresses hold over 75% of the total supply. That is truly shocking. Is it worth giving up the decentralized aspect of crypto for some gas savings on a poorly designed layer 1 network with bad scalability (Ethereum)? I argue that it is not. > > The final argument against MATIC is more of an argument against its parent chain, Ethereum. Ethereum is currently the most integrated solution in terms of quantity of dapps and DAOs but that is not guaranteed to last forever. In fact, many other networks currently available put most of Ethereum's features to shame. This is simply because Ethereum is a second gen blockchain and newer chains have had ample time and opportunity to address Ethereum's shortcomings. However, Polygon is a scaling solution for Ethereum only and if Ethereum loses market share (which it will regardless of its status as the most adopted smart contract-enabled layer one blockchain) Polygon's usefulness and value will decline. There are too many good alternatives for an expensive and slow chain like Ethereum to maintain its dominance. > > Disclosure: I hold quite a bit of MATIC. Not enough to put me in the top 10, but close (ok not close but I hold a non-zero amount.) I also hold a decent amount of Ethereum which probably makes zero sense to someone reading this argument. I am short term bullish on the usefulness of both networks but I believe they will be replaced long term by more efficient and less expensive networks. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/qk4yk4/coin_inquiries_round_polygon_conarguments_november/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Polygon) to find arguments on this topic in other rounds. Pros and cons per topic will likely change for every new post. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/11xzszy/daily_general_discussion_march_22_2023_gmt0/).

Maleficent-Ad-8763

Ty for the advice! Already use app 2FA on certain CEX but not all! This is a good reminder

42326041

Yes you are right. I missed this point. Still learning. I have one question though: how does CEX decides to provide liquidity at a specific price? Like how binance decides the price to provide initial liquidity with their own funds?

DMugre

You're missing the point, in order for the CEX to list it they must provide a pair, backing it with exchange funds. It's still not getting price out of nowhere, there's a reason, a very clear one.

42326041

It depends on the CEX or DEX model. On first day there will be lot of incentives for early liquidity providers, but initial price will be determined by the CEX listings on Binance and Coinbase. On CEX all the new buyers will provide exit liquidity for the airdropped people. Once the price stabilize then DEX will get liquidity by liquidity providers.

AntiquePen9204

Most times CEX wallets are excluded from participating or receiving airdrops, this is normal and if airdrops are distributed to CEX wallets consider it as a bonus.

Parush9

Same here looks like i will finally move them to Pera Algo wallet and stake them there . Coinbase is looking to expand services outside US , now ending Algo staking . Slowly things are changing around CEX . Guess sticking to DEX for a while may be better option .

trucknotmonkey

Change CEX and DEX so that any attempt to buy meme coins results in buying 50/50 split of BTC and ETH.

Dovahk11nx

Impermanent Loss is a term that comes from LPs (Liquidity Pools) where you provide liquidity of 2 assets (most commonly) to a pool, to give liquidity for people who will do swaps between those 2 assets. The liquidity providers will earn a % of the fees from the swappers, but they are exposed to IL (losing part of 1 of the assets because of an imbalance in the 50/50 weight of the pool due to prices moving unaccordingly between those 2 assets). These topics are actually really deep, I encourage you to get into Youtube channels like Whiteboard Crypto and Finematics (both are literally gold), and each day looking for some specific topic or term you would like to dive into, and you will slowly learn about staking, Liquidity Pools, Defi, Automated Money Markets (AMMs), UniSwap, Balancer, Compound, Aave, etc, etc. It is as fascinating as complex it seems at first, but as you start learning, you will see how unstoppable this already has become :D. PS: run from those CEX you have mentioned and store your assets in custodial wallets and protocols where you have full control of your money.

No_Pay9508

📶 ArbiBaby||Space - $ARBI Pinksale Fairlaunch📶 $ARBI is a utility meme token decentralized on Arbitrum One ,that supports charity causes for the people who needs , Charity Causes, Hospitals, Senior Centers, Schools, Orphanages Etc… Info & Features 🔵 🔥 Tax 5/5 % 🐳Max Wallet 2% ( Anti-Whale ) 👑 KYC, Audit & Safe contract ✍️ Ownership Renounce 🤪 No Private Sale 📌Token Vested ( 10% Monthly) 🤩 Liquidity Locked for 90 Days 🔵Staking Dapp 🖼 Nfts Marketplace 😓 Swap (DEX) ⚡️ Community Driven Token ✅ Experienced Team ( DeFi ) 👀 Airdrop for FairLaunch Participants 🔥 Automatic Burn 1% Buy/Sell 💪 CMC & CG ( Fast Track ) 👑 CEX Listings 🔟 Charity Token 💎 Charity Foundation 🤑 Game Development 🔵 KYC ✅ AUDIT 🛒 5/5 Tax Important Launch Details🔵 🔥 SoftCap: 10 ETH 🔥 Start: 22 March 14:00 UTC 🔥 Ends: 24 March 20:00 UTC 🔥 Launch: 25 March 12:00 UTC 🔥 LP Locked: 90 Days ⚪️ Presale Link⚪️ For more info and regular updates join the community today!♾ 🌐 Website 📔Whitepaper 🤖 Discord *️⃣ LinkTree 🕊 Twitter ✉️Telegram

Local-Session

Use Arbitrum Nova. Fees are less than a penny. Not sure how many CEX accept this at the moment though, but works for sending between wallets or using DEXs