what is the difference? Openledgers Bitcoin Wallets could also get hacked. They do not minimize the 3rd party risk, because there is no database you can hack and get access to the userbase wallets, but most hacks are insider jobs see MT.Gox and Shapeshift, so Openledger has the same weakness.
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OpenLedger does not have control over your funds!
It's decentralized, you are responsible to protect your own wallet and funds.
as long as you hold their UIAs they could lose your funds. What you are saying is not true. You should check again, your information.
Of course you are in control of your funds at anytime. If you converted btc to bitBTC or open.btc you're always in control of that Smartcoin or UIA, were in a centralized Exchange you're not. The backing of Smartcoins/UIAs is another story, but your property on the BitShares chain is secure no matter if it has intrinsic value or not. Got that? Don't mix asset collateral and ownership, thank you.
You can trade smartcoins directly which are free of that problem. The volume could be better thou. Hopefully such posts will help to address this.
On BTS:CNY (decentralized smartcoin pair) the volume seems to be rising with each day. I hope it will continue to do so.
You can see the volumes on this beautiful explorer: https://cryptofresh.com/assets
You can use openledger as a bridge onto the bitshares decentralized exchange - you could trade your open.btc for bitBTC (smartcoin) and you'd be even more secure.