A community for the latest discussions about the cutting edge of crypto design, it's culture and significant crypto news. Decentralize everything. Check out our [Community Guidelines](https://relevant.community/crypto/post/6122269e61d1cd005a877277/62427d3ed587ad005b647828)
53748 Members
We'll be adding more communities soon!
© 2020 Relevant Protocols Inc.
A community for the latest discussions about the cutting edge of crypto design, it's culture and significant crypto news. Decentralize everything. Check out our [Community Guidelines](https://relevant.community/crypto/post/6122269e61d1cd005a877277/62427d3ed587ad005b647828)
53748 Members
We'll be adding more communities soon!
© 2020 Relevant Protocols Inc.
Relevant
Hot
New
Spam
Relevant
Hot
New
Spam
0
Do you think introduction of protection funds can restore investors confidence back to CEX Though the collapse of FTX took away the confidence of many crypto investors and traders away from centralized exchanges, I think it was a blessing in disguise because the collapse actually birthed the introduction of user protection fund from some top exchanges to keep their customers and give them some level of confidence that such a scenario that befell FTX is properly guided against. In this space, we know security is of essence and after several failure from some cex ranging from either hacks, scams from the CEO and other forms of manipulations, it has become increasingly difficult for some investors to trust exchanges despite the fact that this exchanges play a huge role in the crypto landscape. Do you think the introduction of user protection fund can reinstate the confidence of investors back to CEX?
0
Do you think introduction of protection funds can restore investors confidence back to CEX Though the collapse of FTX took away the confidence of many crypto investors and traders away from centralized exchanges, I think it was a blessing in disguise because the collapse actually birthed the introduction of user protection fund from some top exchanges to keep their customers and give them some level of confidence that such a scenario that befell FTX is properly guided against. In this space, we know security is of essence and after several failure from some cex ranging from either hacks, scams from the CEO and other forms of manipulations, it has become increasingly difficult for some investors to trust exchanges despite the fact that this exchanges play a huge role in the crypto landscape. Do you think the introduction of user protection fund can reinstate the confidence of investors back to CEX?
The introduction of User Protection Fund and Proof of Reserve will reinstate investors confidence. The features ensures that exchanges have enough fund to back-up users fund in case of any eventuality from their end. Any wise investor will prioritize exchange user protection and POR before using it.
The introduction of User Protection Fund and Proof of Reserve will reinstate investors confidence. The features ensures that exchanges have enough fund to back-up users fund in case of any eventuality from their end. Any wise investor will prioritize exchange user protection and POR before using it.
Yes, user protection funds are a good innovation and a step in the right direction and can help restore investors believe in centralized exchanges by providing a safety net against unforeseen events, like exchange collapses or hacks, thereby increasing trust in the reliability and security of these platforms.
Yes, user protection funds are a good innovation and a step in the right direction and can help restore investors believe in centralized exchanges by providing a safety net against unforeseen events, like exchange collapses or hacks, thereby increasing trust in the reliability and security of these platforms.
Some low-ranking comments may have been hidden.
Some low-ranking comments may have been hidden.