What do you risk with instant crypto swap platforms for cross-chain trading?
What do you risk with instant crypto swap platforms for cross-chain trading?
I know the general “fears” about using instant crypto swap platforms – security, or maybe there are hidden fees, or KYC issues. But what are the real-real risks, what stops some people from using them at all (while others still are okay using them)?
Asking because I wanted to just use Changelly, used them twice before, but now I’m kinda on the fence. Still – what’s the “inherent” danger of using things like it vs CEXs or DEXs?
Also read about slippage and issues with liquidity, but are there other risks that could impact speed, fees, security that you should always think about? Appreciate your thoughts on this.
if you’ve a $100 to swap I’m sure there is no reason not to use it, but as soon as you try swap hundreds of thousands of dollars, they gonna hit you with kyc stuff and find reasons not to give your crypto back.
obviously not happened to me but many stories posted to reddit, always surprised when people are putting so much faith in a website that probably doesn’t have a customer support telephone number, and only an email address to identify you by.