The main problem of Cryptos are Exchanges like Binance: they are like banks, but totally worse and not trustworthy.
I'm in the crypto world since few months but if I learned something is that the main problem of Cryptos is that there isn't a trustworthy exchange.
We all say that thanks to crypto we can cut off the middleman (banks), but actually we're just replacing it with something worse like these exchanges that works like banks but don't guarantee your funds and don't have to follow any law.
I keep my coins in my private wallets, but I still need exchanges to buy or sell them. So we can't have cryptos without exchanges.
And what are these exchanges? Let's talk about the biggest one: Binance. Until you don't have any problem, everything seems to work fine. But when you'll have a problem, you'll start to miss banks.
I sent some crypto to my spot wallet on binance because I wanted to trade them. It was 10 days ago. I sent them and the transaction got confirmed 6 times in few seconds according to the blockchain.
These coins never arrived in my Binance wallet. I mean Binance got them but didn't put them in my account.
Why? Who knows? If it was a bank, I would just call them or pass by their offices and get my money. If they wouldn't give me, I would call the police.
With binance i had to talk to a stupid chat bot that said to write a message and that I would contacted back by email. Nobody ever contacted me back. I never got my money and I can do literally nothing because this is a ghost company.
Luckily we're talking about few bucks but the problem is big. If you go in the binance reddit you'll see how many people have problems with them.
How cryptos can get adoption if we have to rely on these exchanges?