I agree, it is part of the game. But Binance and mex control too much funds now. It is waiting to be like the next mt.gox. I personally think its safer to use a non custodial exchange than compared to central excahnges.

Decentralization is the most important part of blockchain technology. Unfortunately, even though it has been upgrading all the time it still is not perfect.

Every person, who keeps coins on a private wallet instead of exchange is afraid of losing them.

If it happens there is no way to restore them and the user loses access to every fund that was stored there.

On the other hand, if you keep your coins/funds/money on the exchange you don't have access to your private keys. The wallet is under full control of the exchange and people who manage it.
And as my grandpa used to say “Not your keys, not your Bitcoins”. God bless his soul.

Exchanges, where users don’t have access to their private keys, are called “Custodial”

As the results of such a solution, we now have witnessed several hacker attacks on exchanges that cost people money. It also opened a backdoor for market manipulation (Exchange have access to their users coins/funds and may affect the price and the market).

Custodial exchanges
As I mentioned before, Custodial does not give access to private keys.
But…
It gives you a big advantage - you can restore access to your account if you lost/forgot your password.

Also, it is comfortable in trading, your coins and funds are in one place which is easy to manage.

Yet… when the exchange goes bye bye (under), your funds go bye bye as well.

And here comes another important rule “ DO NOT KEEP YOUR COINS ON THE EXCHANGE”!


Non-custodial Exchanges
Non-custodial wallets give you full control over your funds. The owner of the wallet is the only person who has access to his private keys and funds on the wallet and the exchange has only permission to use it when you trade. Your funds are safe but this system has issues, if you lose access to your wallet (lost password, deleted security files, destroyed phone) you will never get them back. That’s why it is so important to keep your private keys in a secure place.


Currently, 90%, (if not more) exchanges, are based on Custodial technology, which everyone probably knows. In my opinion, exchanges such as Binance, Bitbay, Bitmex etc. that can still be robbed and are unable to ensure the protection of users' data, will sooner or later become a thing of the past.

In their places New exchanges with non custodial technology will arrive and replace them. This is the natural order of things.

What’s your opinion guys? Feel free to discuss this topic Smiley

Cool stuff. I like the fact that BBOD has transparent custody and is extremely fast (unlike dexes). I don't want Mt.Gox to happen with me again

Cool stuff! Why don't you try this at https://bbod.io/platform/symbol/CFX/BBD/BTC

They have zero fee trading and pretty low fees for other contracts

You are welcome. 

I have to admit. BBOD is a pretty cool exchange. The creation of custody is instant. Plus, I can sleep peacefully knowing my funds are safe on the ETH contract created specifically for me on the blockchain.

Do you realise the implications of this guys?? This means the exchange is provably solvent. That's right.

If everyone that trades on BBOD verify that the amount in the custodial wallet on the blockchain is correct, this proves that BBOD is 100% solvent.

Other centralised exchanges like bybit, bitmex, binance cannot prove this.


The zero fee trading is a cool feature too, although it doesn't make a difference to me. I am fine paying 0.075% taker fee on leveraged contracts. I usually play big swings and small fee percentages don't matter to me.

Pretty sweet usecase for BBD tokens though. BBD tokens go into my alts bag too.

Overall, a project that has great potential.

Keep up the good work guys! Cheers! 

Bullish till next year end!

Oh man, oh man. People should really consider improving their security.