This is quite insightful, and has driven some curiosity in me and I had to check which exchanges has published their proof of reserve, turns out not many have done this in reality and the leading exchanges seems to take it very seriously, I guess this is to prove the effectiveness of their financial control even coinmarketcap recently announced updated proof of reserve for Bitget which totals $1.54 billion. I definitely will upt in for exchanges that audit their proof of reserve.
The things i consider before choosing an exchange are; PoR, other users reviews on the exchange, security measures, regulatory compliance, and overall reputation of the exchange in the cryptocurrency space. I believe PoR goes along to reassure users of the exchanges' transparency and trust
This is quite insightful, and has driven some curiosity in me and I had to check which exchanges has published their proof of reserve, turns out not many have done this in reality and the leading exchanges seems to take it very seriously, I guess this is to prove the effectiveness of their financial control even coinmarketcap recently announced updated proof of reserve for Bitget which totals $1.54 billion. I definitely will upt in for exchanges that audit their proof of reserve.
To some extent YES but personally, I think regulation of exchanges is the best way to bring complete trust to the system.
The things i consider before choosing an exchange are; PoR, other users reviews on the exchange, security measures, regulatory compliance, and overall reputation of the exchange in the cryptocurrency space. I believe PoR goes along to reassure users of the exchanges' transparency and trust