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Crypto is still too unsafe for mass adoption, especially when compared to more popular alternatives.

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by COINS NEWS 86 Views

Just again there's news of another wallet (Atomic wallet) getting hacked and many users losing all of their funds on it with their accounts being drained. Biggest drained account found was someone losing $2.8 million worth of UST from their Atomic wallet. Then recently there was Myalgo hack and many others. So we can't fully trust hot wallets either.

We cannot fully trust Centralized exchanges and we're constantly being told ''not your keys, not your coins'' either since you don't really own them, but that's not the problem. Problem is it's very unsafe to keep them there because it feels like every few months some huge exchange that is featured as mainstream as they can be (FTX superbowl ads and biggest celeb endorsements) just goes bankrupt and you lose all your funds.

But then we're completely safe with hardware wallets? Well Ledger has few words to say about it.

Not to mention other things that you have more control of, but that are still relatively easy to fall victim for: like accidentally connecting your wallet to some phishing imposter site that will drain all your account instantly. Maybe somehow typing the wrong address when forwarding the money, and your crypto is lost forever etc... Before we dream of mass adoption things like this should not be so common.

submitted by /u/mbdtf95
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