@vivienneol9
What Are the Risks of Holding Crypto in Centralized Exchanges?
Storing crypto on centralized exchanges (CEXs) exposes users to risks like hacks, insolvency, and withdrawal restrictions. Events like FTX’s collapse highlight counterparty risks. While CEXs offer convenience and liquidity, they control private keys, limiting user ownership. Security measures include using two-factor authentication (2FA), withdrawal whitelisting, and cold storage. For maximum safety, long-term holders should consider self-custody solutions.
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