Hot take incoming...
In 2022, FTX customers lost $8 billion in assets they believed were safely held on the exchange. That was not a market crash. It was a custody failure.
→ Over $10 billion in crypto has been stolen from exchanges since 2017. Most losses happened while users had zero control over private keys.
→ A hardware wallet keeps your keys offline. If an exchange freezes withdrawals or gets hacked, your assets stay yours.
→ Self-custody adoption is rising. Roughly 25% of Bitcoin holders now use hardware wallets, up from 15% in 2020.
→ Exchanges are convenient for trading. They are not banks. Your balance there is an IOU, not a title deed.
The trade-off is simple. You can trust a third party with your wealth, or you can learn to hold your own keys. One choice puts you in control. The other puts you in line with creditors.
What's on your watchlist?
#CryptoEducation #TradingTips #Investing #Trading #CryptoCommunity
📱 Follow @PoorCryptoMan
In 2022, FTX customers lost $8 billion in assets they believed were safely held on the exchange. That was not a market crash. It was a custody failure.
→ Over $10 billion in crypto has been stolen from exchanges since 2017. Most losses happened while users had zero control over private keys.
→ A hardware wallet keeps your keys offline. If an exchange freezes withdrawals or gets hacked, your assets stay yours.
→ Self-custody adoption is rising. Roughly 25% of Bitcoin holders now use hardware wallets, up from 15% in 2020.
→ Exchanges are convenient for trading. They are not banks. Your balance there is an IOU, not a title deed.
The trade-off is simple. You can trust a third party with your wealth, or you can learn to hold your own keys. One choice puts you in control. The other puts you in line with creditors.
What's on your watchlist?
#CryptoEducation #TradingTips #Investing #Trading #CryptoCommunity
📱 Follow @PoorCryptoMan