Centralized vs. Decentralized Crypto Exchanges: What You Need to Know
Hook: Is your crypto safe with centralized exchanges?
What risks do centralized exchanges pose?
Centralized exchanges like KuCoin and Binance may offer convenience, but they also carry some steep risks. One of the primary issues is that users don’t have control over their own private keys. This fact alone brings about a set of vulnerabilities that can be quite concerning. For starters, despite some exchanges offering Proof of Reserves (PoR) audits to verify asset backing, the reality is that vulnerabilities still lurk beneath the surface.
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Lack of Control: When you’re using a centralized exchange, you have to rely on them to keep your assets safe. The moment they fail or decide not to act in your best interest, your funds could be in…
