Vitalik Buterin also spoke out against centralized exchanges
During the recent TechCrunch Conference “TC Sessions: Blockchain” talks on July 6 in Zug, Switzerland, one of the Ethereum founders Vitalik Buterin clearly expressed that he does not support centralized cryptocurrency exchanges.
Vitaliks Thoughts - "Centralized & high-fee exchanges? - they shall burn in hell!"
“I definitely hope centralized exchanges go burn in hell as much as possible,” Buterin said.
He finds it absurd to pay $10-$15 million fees just to allow people to trade on centralized crypto exchanges. The reason why we have centralized exchanges is that they function as a link between fiat currencies and cryptocurrencies.
“And the fiat world only has centralized gateways,” Vitalik emphasized.
Although Buterin pointed out that it is still early times for decentralized crypto exchanges, they act as transfer tunnels and offer many benefits for users. Last month, John McAfee called for a boycott on a major centralized cryptocurrency exchange HitBTC.
“Our exchanges are connected to our banks and our governments. To take down the entire system, we must first take down our exchanges. Distributed exchanges are coming. I have singled out @hitbtc because they are the worst,”
he tweets on June 30. However, his issue remains unknown in his posts. He seemingly addresses the withdrawal costs that all centralized exchanges charge.