The CEX: The Less Bright Side of Cryptocurrencies

Ah, the famous centralized exchanges! These giants that dominate the crypto market while pretending to be modern, when in reality they are just banks disguised in digital suits.

As a user of several platforms, I have seen firsthand how these "trusted intermediaries" operate. Trustworthy... until they stop being so, of course.

The Great Centralized Farce

A CEX is basically a web portal where we exchange our precious digital assets while they maintain absolute control. Does it sound familiar? It is the same traditional banking model that cryptocurrencies were supposedly meant to revolutionize.

The reality is that these centralized platforms decide which tokens we can buy, how much liquidity they provide ( when it suits them ) and they record every move we make. Come on, they have all the power while we can only accept their terms.

The Price of "Security"

The main features of these exchanges are:

• Arbitrary selection of tokens: they handpick which projects to promote based on their economic interests.
• "Liquidity provision": when the market crashes, mysteriously your systems fail.
• Transaction logging: they monitor every penny you move

These platforms charge you fees for everything: for depositing, for withdrawing, for breathing within their ecosystem. And for what? To supposedly guarantee the "security" that we constantly see compromised in massive hacks.

Regulation: Excuse for Control

They sell us the idea that they follow regulations like KYC and AML to protect us, when in reality they are mechanisms of mass surveillance. They ask for photos of your face, personal documents, and even proof of address to allow you to use YOUR OWN money.

The recent legislation in Brazil has only added layers of bureaucracy without truly protecting the average user. The big fish continue to swim freely while we remain trapped in the regulatory net.

The Illusion of Control

They tell us that we maintain "some control" over our assets through personal wallets. Some control? Either you have total control or you have none! This half-truth is precisely what keeps many trapped in the centralized system.

I have seen too many times how these platforms arbitrarily freeze funds, prevent withdrawals during important market movements, or simply disappear overnight.

The Reality of Centralized Domain

For now, these CEX dominate the market in trading volume, but not because they are better, but because they have the capital and infrastructure to crush any emerging decentralized competition.

The true future is in DEX, where control returns to the hands of users. But of course, that future threatens too many established interests.

Is a CEX a safe option? Ask the thousands of users who have lost their funds in bankruptcies, hacks, and conveniently timed "technical issues." Real cryptocurrencies were born to eliminate intermediaries, not to create new ones with digital suits.

#exchange #bitcoin