This Thanksgiving, I'm thankful my coins are in cold storage

All Cryptocurrencies

by COINS NEWS 15 Views

So much has changed from last year at this time and my experience with crypto. Last Thanksgiving, I had around 90% of my crypto in Celsius and Nexo. I was certainly naive to the risks of holding coins on centralized lending platforms. There was a period of time, I even assumed I'd be holding coins on the various platforms forever to compound interest. My risk mitigation was splitting the crypto between platforms.

I'm thankful I learned the error of my ways before losing all my crypto (or at least not having access for who knows how long). In the early part of 2022, I transferred everything to a private key using a Trezor device. I've since learned to even transfer coins from the exchange as often as makes sense. I'm no longer not taking advantage of the benefit of self custodying my assets and having no counter party risk. A major benefit of crypto is that you can have total ownership of your coins. To not take advantage of this is to neglect the full value of owning crypto.

We all learn and become wiser with time. There are mistakes I continue to make and just try my best to move forward. Anyway, for those that celebrate Thanksgiving - Happy Thanksgiving and I hope you continue with your crypto journey.

submitted by /u/OpticallyMosache
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