Imagine the feeling : you’re a regular person, somewhat familiar with cryptocurrency.
You’ve heard the phrase “Not your keys, not your crypto,” and sure, that makes sense for some of those sketchier exchanges, but this is Exchange Corp . Everybody trusts Exchange Corp. You saw their CEO on cable news the other day, and he sounded very trustworthy. In fact, he even said on his Twitter that your coins always belong to you, even when you hold them on Exchange Corp.
To understand the answers to these questions, we first need to take a step back and ask ourselves if cryptocurrency is functioning the way it was originally intended. Were we meant to relinquish custody of our tokens just to be able to trade them? The answer is a resounding no. Centralized exchanges offered a few tempting options for people who were interested in cryptocurrency, but not too concerned with autonomy. Or perhaps they didn’t understand the importance of that autonomy, and they trusted that their cryptocurrency somehow remained in their custody even when stored with a centralized exchange.
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