Is is still safe to use

Discussion in 'General Bitcoin Gambling Discussion' started by Lance, Apr 3, 2023.

  1. Lance

    Lance Member

    I have accounts with a variety of exchanges but I'm a little bit more careful since the collapse of FTX as I lost a couple of thousand dollars when it went bankrupt. I also lost a little bit of money in BlockFi and Celcius so I've had some very bad luck with crypto companies over the last year. While I was watching the Formula 1 race in Australia over the weekend, I noticed that are still advertising heavily at F1 events. I'm not sure if this is a good sign or a bad sign since FTX also advertised heavily around sporting events. What is your opinion? Safe to use or not?
  2. Humble Servant

    Humble Servant Active Member Staff Member

    Good question, I fully expected them to fail after went bankrupt. FTX famously had Tom Brady promoting them so when I see exchanges spending a fortune on sports advertising, it makes me a little nervous. There will always be risks associated with using crypto and stablecoin exchanges which is why we wrote this guide to find the best ones
  3. Wonka

    Wonka Member

    don't they have their own currency called CRO that you need to stake to use their site or get their credit card? ftx also had their own currency which they pumped the price of in order to stay solvent. in general, i think i would avoid using any type of exchange that asks you to buy their own native cryptocurrency token because if the price of that token tanks, they might go bankrupt.
  4. Ajactonbson

    Ajactonbson New Member

    It's understandable to approach with caution given your past experiences with other crypto companies. While their advertising at F1 events might seem reminiscent of FTX, it's important to delve deeper into their reliability and security measures.
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    Last edited: Apr 11, 2024

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