I am in the process of purchasing a Ledger Nano offline wallet and it got me thinking about why people store their digital assets on crypto exchanges.
These exchanges are susceptible to hacking, insolvency/bankruptcy, misuse of customer funds (FTX) etc.
What would happen if Binance got hacked tomorrow and lost the majority of its cryptocurrency? Would they be able to reimburse customers or would they become insolvent?
I asked my close group of friends how many store their assets on exchanges and only 1 out of 6 uses an offline wallet.
The recent incident with Luke Dashjr confirms that you are always at risk of being hacked no matter how vigilant you are.
Will give my thoughts on the Ledger Nano once I receive it.
Simple because some other want to sell their asset immediately once the market recover it will not get charge. They will believe that if they will rise and keep it. will be very harmful and sad. Also, the fee of device fee cannot ixecute maigi yung kasal. I rwammy don't know how but I knew the right person in many. bookls are real. It is really it is just gives celebratei in every issue.