Ep. 214 - How Can We Trust Small Exchanges?

CRYPTO 101

Bryce Paul & Brendan Viehman

Business, Investing

4.6 • 821 Ratings

🗓️ 10 March 2019

⏱️ 50 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

** this is not financial or legal advice*** In the wake of hacks and operational mishaps, new exchanges keep popping up. Why? Is it really that lucrative that people will take the chance to create something that deal with so many security issues? Are they purposely trying to create a platform for fraud? Or, are they trying to create a better exchange learning from the mistake of the past? The real question is… How can we trust them?  In this episode Matthew chats with two new exchanges, My Crypto Wallet and Agora Trade, to ask those questions. Why? How? And, how can we trust you? Show Links: CRYPTO101podcast.com Patreon: www.patreon.com/user?u=8429526 Twitter: twitter.com/Crypto101Pod twitter.com/BrycePaul101 twitter.com/PizzaMind www.instagram.com/crypto_101 Facebook: https://www.facebook.com/groups/101Crypto/ https://www.facebook.com/CRYPTO101Podcast/ **THIS IS NOT FINANCIAL OR LEGAL ADVICE** © Copyright 2019 Boardwalk Flock, LLC All Rights Reserved Music: https://www.youtube.com/watch?v=RuuWqOqoVh8 All The Colors by Dj Quads https://soundcloud.com/aka-dj-quads https://www.youtube.com/channel/UCusF... https://open.spotify.com/artist/2VZrd... Music promoted by Audio Library https://youtu.be/RuuWqOqoVh8 https://www.youtube.com/watch?v=-dhBgX-XW2g Oh! No by Le Gang https://soundcloud.com/thisislegang Creative Commons — Attribution 3.0 Unported — CC BY 3.0 http://creativecommons.org/licenses/b... Music promoted by Audio Library https://youtu.be/-dhBgX-XW2g Advertising Inquiries: https://redcircle.com/brands Privacy & Opt-Out: https://redcircle.com/privacy

Transcript

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0:00.0	Yo, welcome to Crypto 101, the average consumer's guide to cryptocurrency.
0:04.8	This is Matthew Aaron.
0:06.0	And 2019 has been a trying year for crypto exchanges.
0:09.9	Cryptopia hacked, closed down for months.
0:13.3	Canadian Exchange, Quadringa, CEO, died losing the private keys.
0:17.6	And, well, the more people dig into it, the stranger the case is, and maybe
0:22.0	they even have the coins or the money they said they had in the first place. So this actually all
0:27.2	comes down to just one thing. How can we trust these smaller exchanges? And with exchanges
0:34.1	getting hacked and shutting down, why are people still building new exchanges?
0:39.4	Why do they think that people are going to trust them and not just go to the big guys?
0:42.8	Coinbase, Gemini, finance, BitTrex.
0:46.6	How can these small exchanges build trust?
0:50.7	Not only how can they build trust, how can we be sure that they won't screw us over in the future?
0:57.5	Well, to answer that question, I invited two smaller new exchanges onto the show to ask them just that.
1:02.8	Why build a new exchange?
1:04.3	How can we trust you?
1:05.6	How can we know that you will not leave us or screw us over in the future?
1:10.0	And for that, we have my crypto wallet exchange
1:12.4	out of Australia and we have Agora trade, a decentralized non-custodial exchange. So enjoy the show.
1:19.2	And when you're done listening to it, hop on to Crypto 101's Facebook group and tell me what
1:22.6	you think. Tell me if you actually believe that these guys can do it do what they say they're going to do
1:28.5	protect your money protect your crypto and provide a platform for trading crypto that's safe
	...

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