December 4, 2022

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Binance won’t take over competing crypto exchange FTX after all – IT Pro – News

In any world where gold can be made, it also attracts people who do not care about their customers and ignorant people who make mistakes with capital. As long as people leave their money in the stock exchange indefinitely, they risk going bankrupt and your wallet will be empty. If you are not a trader doing many trades with day/week/month, put your coins in their own wallets. Your coins in your wallets. The cryptocurrency industry is a small industry and will often be influenced by cowboys who think they know how it works or they can do a better job and then ruthlessly follow their mouths. Hence the customers are the victims.

With coins in your own wallet, you only risk that the coin itself will fail due to mismanagement of the team behind it or your wallet in question will be hacked. In the latter case, make sure that the initial phrase is well hidden and that the transfer passwords are complex enough that they cannot be guessed or forcefully forced.

Just like with stocks, you also have different denominations of coins. You have big coins, which you know not only fall, only the exchange rate differences are not very high. (For cryptocurrencies, it’s still huge compared to stocks) BTC, ETH, etc. Below is a denomination of coins that can be a bit more volatile, but also have a good base. If you know what you are doing, there is generally a higher return than BTC-ETH. Then you have the new coin category, where it remains to be seen if it’s really a promising project, or if it’s just a cash grab. If you are a fan of cryptocurrency, you know what to look for and dare to gamble, then you can earn more here. On the contrary, it also applies that with large profits, large losses can also be made. Risk management should be part of your strategy. Just like with stocks, only the cryptocurrency market is a kind of stock market on steroids.

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