Invest less in Cryptocurrency or not??

[Ammonites9999]

To be honest, I'm already thinking about investing in cryptocurrency myself and using one of the exchangers \

What cryptocurrency do you want to buy? There are so many coins out there, though i usually recommend that as a beginner, one should buy BTC. You can buy BTC either in a centralized exchange or a p2p exchange, however, once you buy BTC, you should move it into your self custodial wallet, that is where you should store your coins.

Entering the world of cryptocurrencies is an exciting process which should beginning with due attention paid to security and choice of the object. We could look also at less tangible forms of value, but commonly recognised assets like Bitcoin which is generally acknowledged as the root instrument of investment in the crypto milieu. For other exchanges and to make better sense of how transactions are conducted, such information is also useful in the initial stages. Selecting proper platform will serve to guarantee successful and secure interactions.

When you own the crypto assets, keep it into a personal wallet as part of precautionary measures against some external factors. Cold wallets means you are in full control of your funds therefore losing your assets through interferences by third parties is unlikely. As such, with proper management of the investment, the investors can feel more comfortable in going for other opportunities in the world of Cryptocurrencies.

[Sim_card]

To be honest, I'm already thinking about investing in cryptocurrency myself and using one of the exchangers \

What cryptocurrency do you want to buy? There are so many coins out there, though i usually recommend that as a beginner, one should buy BTC. You can buy BTC either in a centralized exchange or a p2p exchange, however, once you buy BTC, you should move it into your self custodial wallet, that is where you should store your coins.

Exactly, because most newbies only buy their bitcoin and leave it in an exchange without knowing the risk involved. If you leave your bitcoin in an exchange, there's a 50-50 chance of you losing your bitcoin especially, when the exchange get hacked or pulls an exit scam.

[taufik123]

Exactly, because most newbies only buy their bitcoin and leave it in an exchange without knowing the risk involved. If you leave your bitcoin in an exchange, there's a 50-50 chance of you losing your bitcoin especially, when the exchange get hacked or pulls an exit scam.

It is not recommended to store Bitcoin on an exchange, and it is very risky in the event of a hack.
But now some of the top exchanges have put collateral on their coins in case of a hack,
so holders in CEXs don't have to worry about their money, it will still be in your wallet.

Exchange security in the past was very bad with hacks that occurred and even stopped operating after being hacked because it was bankrupt

[Nheer]

Exactly, because most newbies only buy their bitcoin and leave it in an exchange without knowing the risk involved. If you leave your bitcoin in an exchange, there's a 50-50 chance of you losing your bitcoin especially, when the exchange get hacked or pulls an exit scam.

It is not recommended to store Bitcoin on an exchange, and it is very risky in the event of a hack.
But now some of the top exchanges have put collateral on their coins in case of a hack,
so holders in CEXs don't have to worry about their money, it will still be in your wallet.

Exchange security in the past was very bad with hacks that occurred and even stopped operating after being hacked because it was bankrupt

Yeah Exchanges are now very careful and care taking of users assets or token so they have provided a very strong and stable security with better protection for assets against hackers and frauds. So a lot of Top exchanges are now secure and fully protected from hackers with the new security measures and updates that have been implemented. But still we have to be very vigilant and caution of some exchanges we use as our store keepers.

[LogitechMouse]

Trust most of your luck, the rest use your brain to gather important information about the related project... early adopters always have a greater risk, but the potential profit is also large if they succeed in making accurate decisions..

The point is, don't be reckless in investing in new projects, because we know that there are so many new projects emerging lately, and our vision is not perfect enough to predict all the new projects that exist.

Just to add on what you said, it would be better if investors who are investing into new projects will put their expectations to its lowest point. It would be better if they would consider their money that they invested as "lost money" because as an investor who mainly focuses on investing into top coins, the risk of investing into new projects are its highest because anytime, they can just rug pull you and run away alongside the money from different investors.

Being reckless is only for those that are considering it as gambling already because investing into new projects right now for me is considered gambling already in a sense that you don't know if you will win big (profits) or lose it all (loss through rug pull or scam project). Whatever the case is, if you're thinking of investing into new projects, consider investing money that you can lose if things go south.

[TomPluz]

...most newbies only buy their bitcoin and leave it in an exchange without knowing the risk involved. If you leave your bitcoin in an exchange, there's a 50-50 chance of you losing your bitcoin especially, when the exchange get hacked or pulls an exit scam.

This is something that people who are new to cryptocurrency must learn fast...leaving your digital assets in exchanges can indeed be so risky especially CEX exchanges as they are centralized and in case the exchange can be hacked (and we know that hacking are getting so sophisticated and successful these days) one can lose everything. Today, it would be so easy to download a non-custodial wallet which one can use to store his holdings so there is no more excuse not to do it. Education and learning from the experiences (good and bad) are required if one is planning to be successful in crypto investing...no ifs no buts.

[Z-tight]

Entering the world of cryptocurrencies is an exciting process which should beginning with due attention paid to security and choice of the object.

Object? Seriously? I want to believe you mean wallet, yeah, it is important to choose an open source and self custodial wallet to store your BTC. So many newbies start off by using an exchange wallet, that is too risky, an exchange can collapse at anytime, or they could get hacked, either way you may lose your funds if you have it in their platform.

[smartaction]

Yeah Exchanges are now very careful and care taking of users assets or token so they have provided a very strong and stable security with better protection for assets against hackers and frauds. So a lot of Top exchanges are now secure and fully protected from hackers with the new security measures and updates that have been implemented. But still we have to be very vigilant and caution of some exchanges we use as our store keepers.

Even though exchanges are very powerful, hackers can enter our exchanges at times due to their own mistakes. So we always have to be careful and always use exchanges that are more secure. There are many exchanges that do not have very good security, we should try to stay away from them. If we use those that seem safe, our money will always be safe. We face big problems at times due to our own mistakes, so I think we should always be careful to solve these problems.

[Z-tight]

Even though exchanges are very powerful, hackers can enter our exchanges at times due to their own mistakes. So we always have to be careful and always use exchanges that are more secure.

No exchange is safe to store your funds, even the reputable exchanges can experience breaches and you can lose your funds through that, take ftx for example. Exchanges are for trading, and self custodial wallets are to store your coins, that is the way it should be.

[taufik123]

-snip-
So a lot of Top exchanges are now secure and fully protected from hackers with the new security measures and updates that have been implemented. But still we have to be very vigilant and caution of some exchanges we use as our store keepers.

yes, stay cautious and really choose the best exchange to use as a trading venue and again not for the storage of the assets you own. The best asset storage remains our personal wallet or hardware wallet that has double security from hacking.

And see how the rules implemented by the exchange regarding the security of users assets so that we know what to do when a hack occurs and not lose our money.

[Nheer]

Even though exchanges are very powerful, hackers can enter our exchanges at times due to their own mistakes. So we always have to be careful and always use exchanges that are more secure.

No exchange is safe to store your funds, even the reputable exchanges can experience breaches and you can lose your funds through that, take ftx for example. Exchanges are for trading, and self custodial wallets are to store your coins, that is the way it should be.

Yeah we know no exchange are safe but the most reputable exchanges reduces the risk of bridging and they are much more secure than some other exchanges which are not much known in the cryptocurrency world. The reputable exchanges will ensure your assets are in good condition to avoid any implications against them or there teams so it less risky than some normal exchanges so take note and store or trade your assets with most popular exchanges.

[bounceback]

Yeah we know no exchange are safe but the most reputable exchanges reduces the risk of bridging and they are much more secure than some other exchanges which are not much known in the cryptocurrency world. The reputable exchanges will ensure your assets are in good condition to avoid any implications against them or there teams so it less risky than some normal exchanges so take note and store or trade your assets with most popular exchanges.

Not all exchange are secure for holding or saving cryptocurrency assets, we faced bad experienced with top exchange market such as FTX have been collapse and not refund yet the user fund.
Usually if any exchange want to close operation will give time around several months later for user withdrawing their fund before permanently close like Hotbit exchange.
Have many exchange have been close permanently and investing in cryptocurrency need to put our assets at secure place, don't hold at not good reputation exchange market exactly for every one have priority as long term holder.

[Findingnemo]

Yeah we know no exchange are safe but the most reputable exchanges reduces the risk of bridging and they are much more secure than some other exchanges which are not much known in the cryptocurrency world. The reputable exchanges will ensure your assets are in good condition to avoid any implications against them or there teams so it less risky than some normal exchanges so take note and store or trade your assets with most popular exchanges.

Not all exchange are secure for holding or saving cryptocurrency assets, we faced bad experienced with top exchange market such as FTX have been collapse and not refund yet the user fund.
Usually if any exchange want to close operation will give time around several months later for user withdrawing their fund before permanently close like Hotbit exchange.
Have many exchange have been close permanently and investing in cryptocurrency need to put our assets at secure place, don't hold at not good reputation exchange market exactly for every one have priority as long term holder.

Exchange is not really a place for holding cryptos, it's for trading purposes only and who doesn't intend to trade crypto in near future should move all their holding to a wallet like non custodial wallet where you will have the control of private keys.

What you're saying is true, exchange might give notice period which is subjected to every exchange can be a month or few months. And also they might notify the users via email to withdraw. Which is not the main concern, the hacks on exchange will be instant and we never know they are prepared to cover the loss if it happens.

[Dr.Bitcoin_Strange]

Exactly, because most newbies only buy their bitcoin and leave it in an exchange without knowing the risk involved. If you leave your bitcoin in an exchange, there's a 50-50 chance of you losing your bitcoin especially, when the exchange get hacked or pulls an exit scam.

I believe this is mostly because most newbies who come into the industry are mostly concerned with the profitability aspects of the industry, thereby undermining the security and privacy aspects, which of course happens to be one of the most important aspect of crypto investment, because regardless of how much profits you’ve made in your investment over the years, if the safety and security of one’s asset and investment isn’t guaranteed, then he’s still very much at he risk of losing everything one day.

I believe it’s only ignorance that will make an investor choose centralized storage over self Custody or decentralized storage options. Because those who really understand the meaning of privacy and security would rather choose to store their assets in decentralized wallet or exchange rather putting their assets in harms way all in the name HODLing.

[lepbagong]

Even though exchanges are very powerful, hackers can enter our exchanges at times due to their own mistakes. So we always have to be careful and always use exchanges that are more secure.

No exchange is safe to store your funds, even the reputable exchanges can experience breaches and you can lose your funds through that, take ftx for example. Exchanges are for trading, and self custodial wallets are to store your coins, that is the way it should be.

There is no guarantee that any exchange, no matter how big, can be safe with the deposits we have there. Although some exchanges have provided information that they also provide a guarantee by contributing that they have "insurance protection", but what kind of mechanism is certainly still confused if it has happened, even though using the existing wallet is not necessarily safe because of the individual nature that can be wrong, but it would be better than putting it on the exchange.