Post
Topic
Board Bitcoin Discussion
Re: Don’t make any crazy/suicidal moves in this bear market
by
ChiNgadOr
on 15/11/2022, 23:57:54 UTC
It has been reiterated countless times on the need to keep and store your coins off exchanges as it has been proven a couple of times about how unsafe exchanges are, and with the latest drama involving FTX, the point is proven once again.

These are some of the crypto exchanges that has either been hacked, had some sort of a security breach or has downright folded up and when it occurred.
1. Altsbit - Feb 2020
2. Uniswap- April 2020
3. Balancer- June 2020
4. Cashaa- July 2020
5. Hotbit- April 2021
6. Ascend EX- December 2021 and just recently,
7. FTX- November 2022

These breaches are just some as recent as two years.
Exchanges such as those listed above would promise top notch security and encourage people to do business with them and when breached, it’s same people who would be at the receiving end.

These hacks and breaches in these exchanges does not fare well for the crypto market as it could get existing and potential new investors jittery.

So, like the heading says, do not make crazy suicidal moves in this bear market.
The recent FTX drama involving hundreds of millions of dollars stolen has resumed the barraging attacks on bitcoin and cryptocurrencies in general by critics and naysayers.

Bitcoin has withstood these attacks and proven all ye naysayers out there wrong and would continue to do so.
So I’m pretty much putting it out there to chill and not make any rash decisions that would be regretted later on. And also to reiterate the fact that exchanges are a no no for keeping your coins.


So many things are happening in the market now and so many investors had lost plenty funds and some loses their life savings which is the reason why we should never keep all our funds in an exchange because if anything happens to the exchange, we might lose all our funds and nothing will happen. This is time we standing knowing the risk of keep so large fund in an exchange which can end up crashing anytime any day. Those who are affected by the current crash will really felt the pain of losing all their life savings without an to signal from anywhere.