Centralized vs. Decentralized Crypto Trading: What You Should Know
Centralized exchanges like Bybit make it super easy to trade crypto, right? But then again, that simplicity comes with some pretty nasty security risks. Yeah, I’ve been thinking about this a lot lately. They’re convenient, sure, but do they put our assets at risk?
The Risks of Centralized Platforms
Here’s the deal: centralized platforms are like a buffet of easy access, but they also have some serious security holes. The biggest risk is that they are a single point of failure. When an exchange holds your assets or your private keys, it’s like throwing a huge “hack me” sign on your back. Remember when BadgerDAO lost over $120 million because of compromised admin keys? Yeah, me neither, but it happened.
Then there are…
