As We Move Towards Rally Please Remember This Always
It is only a matter of time now for Bitcoin and some other cryptocurrencies to seriously take off. Many of you including myself have been doing weekly stock ups of bitcoin via the Twitter #stackingsats movement.
One of the most important things you need to remember is to store your bitcoin etc in your own wallets in which you control. Storing anywhere else leaves you open to so many risk factors.
In fact the apparent chief executive Gerald Cotten of Quadriga who most likely faked his death was unable to pay the 115,000 customers that held bitcoin worth $260 million dollars now reports that there have been transactions made from the so called locked up wallet that only Gerald Cotten had access to.
This along with many stories of exchanges being hacked or being shut down should spell enough for you to get serious about knowing where your bitcoin etc is stored and how to access it at all times.
Great advice!! I always say this- not your private keys, not your cryptocurrency. If you store Bitcoin on Coinbase, you don't own it. Similar to how you don't own your money that you store at a bank. If everyone tried to cashout at once, there wouldn't be enough money to go around, just like crypto exchanges. Buy a hardware wallet, store it on there.
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Given the continued development of alternatives that are more accessible in both price and interface, there should no longer be an excuse to adequately protect our wallets!
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