How to protect your crypto
062: Step by step guide to protecting your crypto
With all of the insane stories of people’s crypto evaporating overnight and exchanges being revealed as full blown ponzis we wanted to circle back to a very important topic for anyone that’s involved in crypto.
We’ve spoken on a high level about the benefits of thinking pragmatically about how you have your crypto secured. The crypto landscape is a wild west of ponzi schemes, hacks, insecure links, and many more insidious occurrences. Even “reputable tokens and projects are coming under scrutiny as calls for regulation mount everyday. This is only natural with emerging tech but it doesn’t mean you have to fall victim to things that easily preventable. Don’t lose everything.
But Andy I have had my crypto on exchanges for along time and have no issues! The problem with this mentality is that you truly don’t have any control over what one of these companies or exchanges could be forced to do if they find themselves in finance or market movement related straits.
We saw this with 3AC, Celsius, and others extremely recently. Do you think some hotshot at one of these companies who is getting sucked off in a Lambo in Miami cares if he blows up a trade so bad that the company LITERALLY cannot fully redeem you for your assets stored with them? LOL. He will laugh on the way to his yacht with your Bitcoin on his cold wallet and sail to Malta to start up another fund the next week.
Do you want to wake up one day and see that your portfolio balance on an exchange is $0? Lose $10,000 or worse over $100,000?
How about waking up and seeing on Twitter that Coinbase or Gemini is having issues and you go to log on but can’t access your crypto? Do you call mom and dad?
Didn’t think so. In this focus piece we will cover the bare minimum amount of security and measures you should take to sleep soundly at night knowing your crypto is protected and safe from unexpected occurrences and market conditions. This is serious stuff that isn’t to be played around with so make sure to pay close attention.
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You also receive immediate access to all archived posts, interviews, and have the ability to interact/comment with our community of traders, salespeople, bankers, portfolio managers, tech professionals, crypto degens, etc. With that let’s dive into how to not lose your hard earned assets to ponzi lords, scammers, and Russian hackers. Let’s get into it lords and kings.