Decentralized Cryptocurrency exchange
Hi there
the subject is not so common some how. I dont find much in the internet about this topic. But as the crypto currency market capitalisation is rising over 100 BILLION $ the vulnerability of centralized exchanges gets into my mind.
I my self am hodling much cryptocurrencies on a private wallet. But I also am trading much. The problem is that the trading plattforms are all centralized...
Recently a ICO from a new decentralized altcoin/bitcoin/usdt exchange finished. Called NVO.io
the concept is very nice. All coins are on private wallets and decentralized. But what do you think of this. Is there right now anything out there which is like poloniex but decentralized and more secure ???
Poloniex.com has its servers in the US.. and the legal question is not solved in the US. I am scared that poloniex servers will get confiscated and all money is gone. Its interface and funcionality is perfect... also the lending opportuniy is very nice for hodlers.
But what if the US will make a law that makes bitcoin illegal??? Is our money on poloniex coinbase etc gone ??? I have no idea.. what do you think does anyone know how the law works in the us.
I think it's a great idea to decentralize the exchanges themselves. Otherwise your investments are absolutely at risk if they're stored in any one country. Since cryptocurrency isn't insured anywhere that I know of, it's up to us to insure it ourselves.
i dont even know if poloniex is licenced or anything... recently a exchange ceo got tried and... he is in jail now..
can that also happen to poloniex ?