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Basic Questions about Cryptos / Re: A wallet as a container of money or exchange?
« on: Today at 12:00:01 AM »That's right. It's still better to to think of the possible risk that might happen to our funds just like what happened to these two exchange. This is the issue that is unknown mostly to newbies which they should know and understand the great risk they might face if ever they plan to hold assets in exchanges.-snip-I also use a lot of tier 1 CEXs and related to that risk depends on how each CEX provides security and compensation for its users.
The only problem is that investors should choose the most reputable CEXs and spread the risk by using multiple CEXs. The collapse of Mt.Gox and FTX is the best warning for all users, after all, CEXs are just a place to trade, not a place to store too many assets.
But CEX is not recommended to be used as a storage place for main assets, because it is very risky.
Seeing how Mt.Gox and FTX are, as you said, it can be a lesson so that we as users are more careful and concerned about the assets we have.
Better to use a wallet than using CEX to store assets. By doing this, the only one who hold our fund is ourselves, not the exchange or anyone.