A Warning To All Crypto Holders
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- Опубликовано: 30 сен 2024
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The crypto market chaos right now has exposed the risks of lending protocols like Celsius. Facing insolvency, the platform has frozen customer withdrawals, and many have reported complete loss of their crypto holdings.
The increasing difficulties people are having getting their money out of centralized institutions highlights the importance of taking self-custody of your digital assets.
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I'm not behind the lines at Celsius and don't know the full picture. The point is - storing crypto at a third-party institution should be a temporary situation (like buying BTC on Coinbase and transferring out shortly after). The exception is if you do want to take the risk and earn some yield on your crypto, but it's wise to keep that allocation less than 100%. It doesn't matter what institution we're talking about. Holding your keys is the only way to obtain complete control over your crypto. I hope this helps.
Chris
Even thought I don't trade Bitcoin, I knew of personal keys a year ago. If people don't do research on the assets they own, then they are asking for trouble.
Dear friend, will you kindly do a video that adresses how one should play the option trading game in this recession ? You are amazing.
Bitcon
MtGox, Cryptsy, MintPal... exchanges have a track record of being terrible.
That's crazy. Sounds the a run on the banks.
that's exactly what it is
@@projectfinance I've never touched crypto (don't know how you would do any analysis on it) but it is starting to look tasty again
@@projectfinance run on the ‘not a bank’
You have made it very clear and its nade a big difference in my trading skills nd for that i am very grateful. I've been watching your videos from the past.
Based for shouting out unchained capital
Is it Legit when the Exchange says you cannot withdrawal for 12 days?
Isn’t it just better to make a deposit at a bank. This is so freaking complicated just to keep funds safe?
Can you make a video for beginners on explaining step by step procedure explaining exactly where and how to start investing in a bitcoin.
Yes! Coming soon!
👍🏻
They aren't insolvent. They are having liquidity issues and issues with rehypothecation (which is what there business is based on). It's annoying for Celsius users and you make a good point about self custody - just want to clarify that the issue isn't that they don't have the funds - its that some of the funds are locked so inccessible (in this case Eth locked in Lido that can't be accessed until Eth 2.0 is live). Just wanted to clarify the difference
Thank you for the input!
Do you still recommend Swan as a means of acquiring and holding Bitcoin? If not, what are you now doing in that regard.
Yes I do! I use swan to buy each day and then I transfer the funds out. They also have an option where you can set up your auto buy directly to your own self custody wallet. The funds held at swan are held at prime trust in cold storage (according to site) and I’ve always been able to get them into my wallet within a day.
Remember when I asked about gold?
no
Hows your mstr leaps doing hahaha
Bad!
@@projectfinance :(
i've been holding most of my coins on bitfinex for years and it's been fine. it's only about choosing the ones you really trust
The whole point is to not have to trust...
You can't know which platform is trustworthy, they all are until they aren't. Saying it has worked so far is missing the point.