Post
Topic
Board Bitcoin Discussion
Re: Short term Investors feeling cool with the centralized Blockchains
by
Yaunfitda
on 18/04/2024, 09:43:49 UTC
Meanwhile... Due to the high rate of transactions fees, I can perceive it that lot of short term Investors would tend to have their assets stored in a Centralized blockchain for easy transactions in other to minimize transaction charges because they believe once they hits probably at the upcoming bull-run they would sell off their assets without holding for a long term.
They would actually ignore the fact that it is not about how long your assets stays in a particular blockchain that can get it comprised but base on how unlucky the investors can be despites how conscious they can be with their seed phrases.
This is just short term though, yeah we have months wherein the fees are high but it goes down to normal again. So I wouldn't risk my holdings for just a few bucks for the transaction fees. Security and privacy is still important. For newbies this might be the case, but it's better to learn early that it's not safe to put our bitcoin in a centralized regardless on how "SAFU" it is. And this is the wrong mentally, we have heard horror stories of people accounts getting hack from exchanges, and we don't want to be the next victim as we approach the halving. Put it in a wallet that we have control, then if you need to cash out something then that is the time to send it to centralized exchange to trade.