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It’s not even a question whether to store money on a centralized cryptocurrency exchange or not to store. Centralized exchanges have repeatedly proved their vulnerability to hacker attacks. And for less than decade of their existence hundreds of millions of dollars were stolen and never returned.
Centralized deposit system has many other disadvantages:
Users don’t hold private keys to their exchange accounts;
Users have to wait long time to deposit and withdraw the funds;
KYC procedure is required to operate large amounts;
Multiply fees and commissions.
It is not convenient. It takes a long time. Nobody likes that. But where should traders go for profitable trading, if all the centralized exchanges operate in same fashion?
Perhaps to a decentralized platform? Yes, the money will be safe there. But you might have to wait for a few days before your order is executed. Moreover, it may not be executed at all, because trading volumes of decentralized exchanges, as a rule, leave much to be desired.
Therefore, traders who care about the security of their funds and want to actually earn, rather than sit and wait, should pay attention to the hybrid trading model, which is presented on the Level2 exchange.
Level2 exchange platform offers a solution that can fully satisfy all market participants. This model bases on a decentralized storage of funds and centralized trading operations management. Together this ensures not only safety, but a high trading rate too.
How is it possible - to deposit money the decentralized way? It's all quite simple. The trader and the exchange platform conclude a smart contract, which opens the payment or smart channel. All the money movements between the exchange and the trader take place inside this very channel and out of blockchain. All the clearings happen after the expiration of smart channel. Smart channel retain all the blockchain security characteristics, including the guarantee of the deposit’s immunity. The funds withdrawn without the signature of an opposite party.
This makes the L2 system of depositing via payment channels reliable enough to prevent any illegal actions with the funds. Even if the exchange goes down and offline, the trader won’t lose a satoshi.
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