Celsius Played A Smart One On Their Users, More Reason To Be Extra Careful With Centralised Exchanges.

For a very long now, I've not really found a need to read though every term and conditions for every platform I used and I'm pretty sure this applies to over 99% of everyone who uses the internet and most likely you too my friend. Unfortunately, this has become a culture, a norm and has sadly cost many users across the world their funds.

Last year, Celsius declared bankruptcy after the LUNA Terra crash and since then, most of their users have been looking for ways to at least get hold of something and not entirely lose because of an event they had nothing to do with. Most people felt safe with centralised exchanges and last year successfully changed alot of people's perspectives towards centralised exchanges.

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"The irony if this picture though"

Unfortunately, Celsius have been declared legally not responsible for any of their users funds because in their terms and conditions, they clearly stated they were not gonna be responsible any repayment whatsoever if the company went bankruptcy. This was a smart one played by the company and it worked so well especially since like 99% of everyone using the internet skip most parts of the bulky terms and conditions they meet on many platforms and who also would have thought that an event of such magnitude would happen to one of the world's renowned centralised exchanges.

I truly sympathise with every user of Celsius who has been affected by this and this is very important lesson to be learnt. We can't be too careful with Centralised exchanges and what happened here should be an eye opener when we deal with several other platforms out there. I'm very concerned about the many platforms I belong to and all their terms and conditions I've agreed to, might have to review them all.