Crypto 101: Get Your Coins Off the Exchanges
Plus headlines you might have missed
It’s easy to get lazy when times are good.
Everybody is making money, the liquidity is flowing, and all projects seem like they’re headed upward as the optimism colors everything. Buy this crypto, or that NFT, and you’re likely to make a mint.
It’s all fun, fun, fun.
But now that tough times are here, the pockmarks and pinholes surrounding digital assets are on full display. Not all companies are the same, and not all crypto projects are either. And some of the weakness is showing in the crypto exchanges.
Storm clouds are brewing all over. Here:
Here:
And over here too:
Just a few.
Now’s the time for a reminder—if you have crypto on an exchange, it’s not really yours. You can lose it any time—in a hack, if the exchange shuts down…
Get it off there.
Move it to a hard wallet if you haven’t already done so. Protecting yourself and your assets is always important, especially during a bear market. Bear markets get ugly, and losing your investment because of an administration problem, or a bad actor on the dark web is the last thing you need.
A defensive position is always best.
Plus…
The Crypto Connection is for entertainment purposes only and is not meant to be financial advice. Please do your own research before investing in any asset class. Sara Celi is not a financial advisor, and holds several cryptocurrencies. To purchase her books on Amazon, please click here.