Exchange Platform are safe or not?

[Yugocean]

Exchange Platforms are facing many problems now.
The need for PoR (proof-of-reserve) has increased since the collapse of FTX. PoR is a platform behaviour that indicates how much reserve it has.

BlockFi has declared bankruptcy right now, Genesis is close to it, and Gemini is also in trouble. Some platforms, such as NEXO, have not revealed any problems but are trying to lure investors with huge APY rates, which is also suspect. All these are in the medium category, but even big platforms are not yet fully capable.

Binance, which was recently considered the largest hodler of bitcoin based on proof-of-reserves published by CZ, was cast in doubt by Kraken founder Jesse Powell, citing a lack of audits. Coinbase has also come under suspicion for attempting while describing its reserves better than Binance.

Cryptos exist as a system of decentralisation and financial freedom. "Neither your keys nor your coins" has been the core of this.​

 

[roseberry]

there are some most important factors if you are choosing exchange platform,
First thing security is top and most important factors you need to consider before creating a crypto currency exchange account,
after security consider other important factors like products and services, fees, profitability, reputation, user experience and more.

 

[saoussen5765]

I do not know why the big majority of websites are becoming scam suddenly and then it becomes before any user realizes it like micro expay or other similar websites?