Binance Tweet & Murphy's Law

in #binance6 years ago

This tweet will likely come full circle someday.

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Although I'm a huge fan of CZ and what he has done for Crypto, I don't think for one second this is good advice. Learn how to protect yourself and hold the private keys to your own assets...use a Trezor or Ledger to make it easier. If you want to store your crypto on an exchange, at least use a DEX like Bitshares. Even bitshares presents risks.

Otherwise, trust a government regulated bank with FDIC insurance. But 100% don't keep a large amount of crypto on an exchange. Its only a matter of time before something really bad happens.

@matthewwarn

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Even bitshares presents risks.

Yes, because you don't necessarily have the private keys on Bitshares (except for Bitshares itself). Most of the entities such as OpenLedger will hold the keys for you and it's just like holding on a centralized exchange.

Exactly...you are still beholden to .open to remain solvent and loyal

brain wallet, then clone yourself then save your clone in a maximum security freezer and neva eva give the keys to your wf / gf or pet

good point...I don't trust my goldfish either :-)

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