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  1. One of the biggest issues in the cryptocurrency exchange community, namely with centralized exchanges, is the ever-present possibility of the exchange being hacked. Sometimes, however, the people behind the exchange will simply take your coins like the infamous Mt.Gox and Quadriga catastrophes.

  2. Centralized exchanges require you to turn over custody of your assets to the exchange and therefore you have no control over their security in the event of a hack or scam.

  3. As a result, decentralized exchanges, where you maintain custody of your assets, have become increasing popular and are gaining traction in the world of crypto trading.

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