As we all know, things have been pretty hairy in crypto this past week! But with prices dropping, I feel this is a good time to accumulate.
I’m planning to DCA gradually over the coming year to take advantage of lower prices but also account for volatility, which is high and likely to remain high for some time.
I don’t have a hardware wallet so I’m still wedded to CEXs for now. But as we also know, some exchanges are also experiencing liquidity problems resulting from recent price drops, increased withdrawals and the collapse of terraluna etc. Some exchanges have blocked trading and withdrawals as a result, and I’ve seen a lot of speculation about the risk of CEXs going bankrupt and people’s investments going down with them – notably those with non-custodial investment models.
I’m not sure how much of a reality this is, but I’m interested to hear from the community which centralised exchanges people trust the most with their investments at times like these.
I’m sure there will be many who advocate for getting a hardware wallet and moving things off exchange – but I’m not yet at that stage in my crypto journey and would still need to go through and exchange to acquire crypto; so my question still stands and my main query is about trust in exchanges rather than the pros and cons of exchanges versus hardware wallets.
Please share your opinions on which centralised exchanges you trust most, and which you trust least right now.