Changpeng Zhao suggested people opt for decentralised crypto wallets if they are not feeling safe with centralised crypto services.
Changpeng Zhao is the CEO & founder of the Binance crypto exchange. Binance is standing at the first rank for a few years, thanks to the secured & quality-based crypto services that always remain helpful for new & pro-crypto Investors. Recently a small controversy between Binance & FTX exchange resulted in the blanket destruction of the whole empire of the FTX exchange, where mismanagement of user funds by the FTX team played an important role to bring the FTX exchange to bankruptcy.
As we know, the FTX exchange is now a bankrupt crypto exchange, which was the second-ranked crypto exchange just 4 days ago. However, practical mistakes done by the FTX team were the main reason behind the downfall of the crypto company but that was enough to create a risk among the crypto investors to think twice before trusting any crypto exchange.
Perhaps Binance exchange is standing at first rank and showed 100% proof that the company reserves all the assets, deposited by the users but still people are in huge fear & they are not able to understand whether will it be safe to go with any centralized exchange blindly.
On 13 Changpeng Zhao took to Twitter to suggest to the crypto investors that they have the choice to go with Decentralised crypto wallets, backed by Binance exchange.
Zhao said that people can choose a Trust wallet as a alternative choice of crypto exchange, where users can hold their crypto assets in their hand without any role of third-party companies, which is also a right of people.
But at the same time, Zhao suggested people use decentralized wallets with precautions and try to start to use Dex wallets with small funds, to understand the way of proper use, otherwise, it will result in a very big loss.