Given current climate, buying crypto is as concerning as the exchanges themselves

With all the mess going on with several exchanges and wallets, and rumors of liquidity issues at coinbase, I’m finding I need to protect my myself not only from collapsing projects, but also the exchanges themselves. Granted, back during the bull run I had no assets on exchanges – they were either in a cold storage wallet or in a protocol gaining interest. But with the volatility of the market, I like having my assets on the exchange since I can place stop orders and protect myself in a downtrending market.

Curious what others are doing during this time.

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8 thoughts on “Given current climate, buying crypto is as concerning as the exchanges themselves”

  1. Some on exchanges some on self custodial wallets. I feel like it’s not a bad idea to have some on exchanges if you feel like you may want to sell.

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  2. During a bull run the exchanges have many people jumping in without a care, they have healthy and steady liquidity. But as soon as winter sets in it’s like Buffett says, most were naked all along.

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  3. Maybe buying crypto right now is a bad idea, but at the same time we are in times where money and wealth is made. I’m not saying that you should go and yolo your money, but remember to be green when everyone is panicking. RIGHT NOW could be a bad idea, but at the same time I think is a good idea to make and start a long term strategy, like DCA or buy your bags and wait. Or maybe try to time the bottom, who knows.

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  4. Just use major exchanges that aren’t CEFI platforms. Definitely would not recommend moving more assets into exchanges in general though, keep some there to play with if anything and have the bulk in cold storage

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  5. I use the exodus wallet and trade for stable coin when i think it necessary. i don’t plan to sell for some time so my exchanges are sitting idle at the moment.

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