Re: ONE MAJOR LESSON LEARNT SO FAR THIS WEEK FROM THE CRYPTO MARKET 😥
What lesson did you learn from the market this week?
I personally, learnt to always take profit.
I personally, learnt to always take profit.
Take profit? or take out your coins from centralized exchanges because you don't know when they are going to collapse like FTX.
I think it is better to learn both
. Take profit and take your fund out of the centralized exchange in order to avoid the same experience the FTX clients had.So create a wallet that you have total control of, have the keys, and save it. Others will say that just leave enough in an exchange for your trading, for me if I have more than $100 then I will withdraw it immediately just in case.
Same here, I'd rather spend the money elsewhere than leave it in an exchange and get stuck due to an exchange getting hacked, getting bankrupt or turning rogue and scamming their client.
And for investments, just be careful on shitcoins and meme coins as they could be devalued or lost their worth very quick.
I agree, even though profit in these altcoins can be life-changing, the risk involves is also life-changing if we get all in and failed to calculate the risk involved and got scammed.