We all knows that when it comes to life change is the only constant thing. The issue with this change is that it can affect you negatively or positively, irrespective of how you sees it, you should not feel bad. Just keep being focus. You should knows that if it is negative it means you have learnt something but if it happens positively, it is sometimes that we should be happy and merry about no matter how. We all should knows that cryptocurrency is just like mirage, you have to be very observant and careful of how you do things in this space. I have always hinted that there is nothing certain here, do your proper investigation before investing. Don't get carried away by Apy and any other things that can lure you into investing into a project that lacks firm foundation. If you do, you might at the tail end ended up loosing money time and effort. You should knows that scam in the cryptocurrency irrespective of any thing happening in the blockchain will keep resurfacing with different format. This is why you should never get carried by any promises or format.
We all have seen how the unexpected happened to us recently. Before now we all saw want happened recently with Luna. If you observe closely you will see that a lot of persons feels like that there is nothing wrong with it. We all saw how the Luna saga happened, painfully just like what I hinted above no body takes it serious. We all felt it is normal. People lost a lot of fund while people died along the line. The issue flushed us into bear market immediately, it was really a painful one I must admit. I was really pained because the bull run as at that time was so amazing, little did I know that Luna will send us all into bear market.
Well, we all were able to move on with the pain still heavy in our heart. At some point where we thought that things were gradually getting back into it best another cex called Ftx compromised everything. This time it was a big mess, we all were placed into another bear which makes it bear square. I called it bear on bear. With the issue hitting the bear market we saw how alot of person where unable to withdraw their money thus leaving them to lost a lot of money. We all knows that all this were possible because money were in Centralized exchange. This brought me to the word, not your keys not your cryptocurrency.
Well, we have remedy for all this long ago but we kept playing deaf ears to it, we keep saying nothing can happen but sadly things are happening. With FTX, the second biggest centralized exchange being affected like this it shows that the time for Decentralized exchange has come.
If at this stage you don't know about Decentralized I should educate you a little. Decentralization exchange simply means that nobody is controlling your fund. We all has the exchange. Popular example of Decentralized exchange is Uniswap, Pancakeswap etc, while centralized exchange include Ftx, Binance, Tron etc. In a decentralized exchange there is no middle man while in a centralized exchange there is always middle man.
In a decentralized exchange while trying to exchange your tokens or coins you don't need to send your coins out but in a centralized exchange you must deposit your token into that centralized exchange before it can be traded. When it comes to airdrop, if you submit a centralized exchange wallet you won't be credited. This is simply because you don't have the wallet keys to that wallet but in a decentralized exchange you have keys over your wallet so you can simply claim your airdrop. Remember not your keys not your cryptocurrency.
In a decentralised exchange there is every tendency that your asset can't be lost but when it comes to a centralized exchange rules can be change any day any time and that can see your token or coin being locked. I know they are still good examples about centralized exchange but with all the things happening recently I will advice for everybody to start using a decentralized exchange.
I will end the post here, hope you love it.