Centralized Exchanges vs. Self-Custody: Which is Safer for Your Crypto?
Share:
Predictions Markets
See what traders are focused on
- David Schwartz is indifferent about storing cryptocurrency on the Coinbase crypto exchange.
- Schwartz thinks the safety of users’ funds depends on the exchange’s activities.
- Crypto exchange depositors are unsecured creditors.
Ripple’s Chief Technology Officer, David Schwartz, has expressed skepticism about the safety of storing cryptocurrency on centralized exchanges. In a recent online discussion, Schwartz highlighted the potential risks for users’ funds in the event of an exchange’s financial instability.
Schwartz commented while responding to Joe Carlasare, a commercial litigator, who analyzed the potential risks of storing funds on crypto exchanges. According to Carlasare, depositing funds into a crypto exchange makes the depositor an unsecured creditor to the exchange.
Carlasare explained that by doing so, the depositor effective…
The post Centralized Exchanges vs. Self-Custody: Which is Safer for Your Crypto? appeared first on Coin Edition.
Read More
Expert Says XRP Could Fall to Negative $5 in Long Term
