Re:An embeddable and customizable fiat-to-crypto onramp
by SparkyMcUnicorn on Friday December 02, 2022 @01:02PM
(#33834150)
Coinbase, Kraken, and Binance have (so far) stood the test of time and proven that they either hold assets 1:1 and/or are working towards a system to display their proof of reserves.
Personally, I think the risk is low enough for them to hold onto my assets for a few days/minutes (depending on method/direction) while transfers are completed.
Sorry "experiencing a temporary liquidity problem in the wake of FTX"? Or "suspending withdrawals temporarily"?
Even in the good times there's been no shortage of horror stories about exchanges not honouring withdrawals and ghosting customers, but now the exchange might not even be there next week. Your deposit might be considered part of bankruptcy proceedings and get rolled into general creditor compensation as part of a multi-year wind-up...