Its actually weird that celsius is doing the same thing now, i dont buy the backlog story.
https://blog.celsius.network/a-memo-to-the-celsius-community-59532a06ecc6It's not a new thing, they been doing that to lesten backlog of transactions every now and then, not only bitcoin but also on other blockchains such ethereum.
On the "eye opener to those using centralized exchange" thing, most people already knew that, but what, of course using centralized exchange that has large volume for trading purposes will always be the better choice if you want to trade and to make profit.
With this kind of market, people getting crazy not to sell their holdings, you won't use DEX and wait longer times before it got a buy order unless you dont need to, which you wont sell it in the very first place and will hodl it instead.
Sure but in this case never leave more than you need on a CEX. And then use a DEX to build a long term stash into your cold storage.
The backlog story may just be a front, but at least with binance, your funds are in SAFU.
This is why even if binance is a CEX, I have my confidence in using this exchange.
But not for storing my coins, just for trading purposes. Another situation to remind crypto users not to store their coins in centralized platforms.
Yeah they've done it quite a lot before and they might've been responding late to the block that took about an hour to be mined this morning (afaik it took that long - as well as increased withdrawals from holders and dip buyers).
It might come from funds being less accessible from cold wallets too but I'm not too sure how likely that'd be - especially since cz probably has a reserve of their own somewhere.
What I like with binance, is that their CEO is very visible to the public.
And he will use social media to announce any important news or updates.
Not many centralized exchanges' owners are known to public.
So for me, it is easy to reach out binance if in case you really have important case to settle with.
