oneminuteeconomics
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oneminuteeconomics

Just How Safe Are Cryptocurrency Exchanges?

… ain’t that the truth?

Last week, I’ve published a video about cryptocurrency exchanges on the One Minute Economics YouTube channel that I’d like to invite you to check out… it’s only one minute long (surprise, surprise) after all :)

In my opinion, the main thing I believe people need to understand about cryptocurrency exchanges is the fact that banks… well, hate them.

There’s a reason why so many exchanges out there accept stablecoins such as USDT (more on that in another post) but not wire transfers, credit cards and so on. What’s that reason, you might ask? Simply put, they’re just so darn shady that banks want absolutely nothing to do with them.

Compared to the Mt. Gox days of the 2013 bubble, things have indeed changed a lot and you now have a wide range of crypto extensions across many jurisdictions. In other words, there has been quite a bit of progress.

However, the overwhelming majority of exchanges are anything but safe and if you don’t understand this quasi-axiom, wrapping your head around the counterparty risk dimension will be very difficult :(

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I teach people economics through best-selling books like The Age of Anomaly (Wall Street Journal and USA Today bestseller), one minute animations that I publish over at One Minute Economics YouTube channel and… well, via any other method that works ;)

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Andrei Polgar

Andrei Polgar

I teach people economics via books like The Age of Anomaly (Wall Street Journal & USA Today bestseller) and YouTube animations (YouTube.com/OneMinuteEconomics)