The FTX Drama: Not your keys? Not your Crypto!

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Y'all. Have you all been keeping your eyes on the recent trend in the Crypto space?

Seriously, I was just thinking of the current FTX drama and how so many people are wailing due to the ripple effect of this drama. I've lost count of the number of tweets I saw from those that had loads of assets in the exchange.

You can easily look at this and see where the issue is.

We've said so much about 'not your keys, not your Crypto', yet it appears that this is something we need to resound at every given moment because people are still leaving a great number of their assets with these exchanges.

I genuinely don't want to imagine what it's like to suddenly lose your assets overnight because of something like this. It brings back memories of the Uptrend experience I had back in the first quarter of 2021 and the Roqqu exchange experience I had in the same year.

Since then, I've always been very careful about where I share my content and where I keep my asset.

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While FTX exchange is making headlines due to the said violation on the part of the exchange and their misuse of funds in customers' wallets, let's not forget that this whole year has been a rough ride for Crypto enthusiasts.

Mahn, I hope we get to have reasons to rejoice before this year runs out. A bullish trend won't be bad, you know.

Well, while we are waiting for the bull to wake up from slumber, the best thing we can do now is to safeguard the assets in our portfolio.

  • Keep 'em safe from hackers.

  • Keep 'em safe from rug pullers &

  • Keep 'em in a wallet where you have full control.

If you have some extra quid to play with, you can also use that to increase the units of some assets in your portfolio.

Stay safe, lads.

Thanks For Not Missing Any Full-stop Or Comma
Thumbnail Image taken from Unsplash

Posted Using LeoFinance Beta

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12 comments
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Bang, I did it again... I just rehived your post!
Week 131 of my contest just started...you can now check the winners of the previous week!
!BEER
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Ever since I realized "Not my keys, Not my Assets" have left assets on safe exchange and only amount that I'm actively trading other than that Cold wallets for life way much better or safe when key's belong to us.

!PIZZA

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Yeah. That's also the case with me. The only time I get into exchanges are for buying and selling.

Once that's done, I move my assets to a more secure wallet

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Exactly!!! Buying, selling and trading that's all in exchange. HoDL safely in wallet!

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Also, for us not to lost our keys, let's make multiple secured backup of it. And save it across multiple physical locations. 😊

!1UP

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Ahaaa... You are very correct about this. It's important to back-up our keys. Hehe. I have mine in multiple places offline.

Well Done ✌️

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It's better to be safe than sorry when we our devices would be lost, stolen, or destroyed. 😊

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