With in-kind payouts looming this week, here are 4 lessons I learned during the Gemini Earn debacle.

Lot of crypto veterans in here, but I just wanted share a few valuable lessons as we enter a new bull market after having over 1 BTC locked up in Gemini for 2 years due to liquidity issues that affected nearly all APY yield earning exchanges in 2022. Your additional thoughts and lessons are welcome.

1. Cold storage is the only option for long term hold. It’s the safest, most reliant way to guard your own assets and achieve 100% ownership. Not your keys not your crypto.

2. ⁠Leave only what you’re willing to trade or sell on exchanges. Do not under any circumstances store what you’re not willing to lose on any exchange, ever.

3. ⁠Do not chase high yield APY’s promoted by CEX’s. DEX’s provide opportunities for yields but are not recommended for your average user.

4. Exchanges are not regulated or FDIC insured banks. Do not trust them to look out for your best interests. They are here to make money off your buys and sells.

Congratulations to all Gemini Earn victims who held strong and dealt with the pain of knowing that we may never get anything back. We received the best outcome possible out of any exchange affected by 2022 liquidity issues. To BlockFi, FTX, Celsius victims, and many other exchanges, I wish you all the best. Keep stacking and recoup your loses. Learn from it. Always forward. Good luck.