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A comment on Crypto Exchange AAX Suspends Withdrawals. Parent comment

Re:Crypto Exchange AAX Suspends Withdrawals by bredren on Monday November 14, 2022 @11:58AM (#33597090)
Variations of this have been tried many times, for example hardware wallets.

But a lot of this is too troublesome or adds too many hoops to jump through than is practical for many people.

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Re:Crypto Exchange AAX Suspends Withdrawals by Animats on Monday November 14, 2022 @03:43PM (#33600724)
Yes. Someone has to get the user experience right.
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Re:Crypto Exchange AAX Suspends Withdrawals by bredren on Monday November 14, 2022 @04:49PM (#33601710)
FWIW, that user experience is most likely Coinbase, or something very much like Coinbase. Not only is the UX good, but customer funds are taken seriously now and have been for a long time.
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Re:Crypto Exchange AAX Suspends Withdrawals by Animats on Monday November 14, 2022 @08:42PM (#33604189)
Coinbase still has custody of customer assets, though. That's what has to be either eliminated or insured to avoid trouble.
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Re:Crypto Exchange AAX Suspends Withdrawals by bredren on Monday November 14, 2022 @10:28PM (#33604893)
To avoid what trouble, specifically?

If it’s risk of customer funds mismanagement, coinbase is just not in the same galaxy as the folks who have blown customer trust.

If it’s securing funds, to prevent hacks, CB offers cold storage. Lumps of crypto can be transferred out of their control as needed to manage risk.

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