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A reminder to never trust big tech with your money(and especially crypto)

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by COINS NEWS 46 Views

Now I know this might be a bad time since yall are dissapointed in the recent moons sunset annoucement, but the truth needs to be told.

If you have any valuable asset, you shouldn't basically trust a company with it. Let's look at some examples:

BUSD: the binance-backed stablecoin, the exchange recently removed its trading pairs and has basically moved on from it. Imagine if you haven't been following the news while holding it, you'd litterarly lose money just because you trusted Binance with it.

Ftx : we all know the shitshow that unfolded there, no need to repeat it here, but basically you should refrain from buying any CEX coin, no BNB, KSC or whatever coin your CEX prints out of thin air, don't let companies control your funds because the minute they declare bankrupcy, they will simply vanish..

CEXs: try to not keep your assets there, I know it is convinient, but when bear markets hit some of those cexs will disappear.

Lastly, the MOON crypto and any crypto project that is backed by a company. Simply don't trust them enough to invest a lot of money in them or at least treat them like shitcoins until they prove otherwise.

Personally I cashed out all my moons months ago (basically at the top) because they were my largest holding at the time, so I had to restructure my portfolio. It really was a tough decision because I liked the community here, but today I found out I made the right call. I knew moons were risky but I thought they would last until the IPO at least, but here we are.

Stay safe lads and remember, regulations are more important for any company than their community, don't get fooled by them and never trust them with your money.

submitted by /u/Sylerb
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