Avoid too much trust for a crypto exchange
No doubt this year we read about alot of bad news about various crypto exchanges that went bankrupt while some mismanaged the wallets of their customers and there were also some exchanges that were hacked, same way there were some exchanges that mismanaged the investments of their customers..
All these recent developments have made alot of investors to lose their investment and it was really a painful experience for them.
The most recent one is the FTX saga and I personally know alot of investors who lost tens of thousands of dollars , some even lost all their life savings on the platform and it is really a very sad situation..
What i have learnt from those events is that we should not put our full trust on any crypto exchange, we should not put our life savings on any exchange no matter how much you that particular exchange , what happened to FTX or those other exchanges could also happen to even those exchanges that you trust so much , so that is why we have to be careful with the way we keep our funds with an exchange..
I have personally made the decision to always keep my cryptos on a hardware wallet instead of keeping it with an exchange , such decision will save me from experiencing heartbreak that might occur if I had put my money on exchanges and I lost it ...
Learn to secure your own wallets , do not rely too much on any crypto exchange because if you do , you might get disappointed soon because no one knows what can happen to the exchange now or in the future , so that is why we need to do everything possible to ensure that we protect our own wallet in the best way we can and ensure that we do not put all our hopes on any exchange..
