If you want to sleep freely and be happy stay out from hodling in exchange, and stay away from altcoins. Bitcoin survive in the bear market no how tough it will be. Only Bitcoin can make you smile while waiting for bull. Know this and know and have peace.
Topic: Do what is right to be happy (Read 361 times)
If you want to sleep freely and be happy stay out from hodling in exchange, and stay away from altcoins. Bitcoin survive in the bear market no how tough it will be. Only Bitcoin can make you smile while waiting for bull. Know this and know and have peace.
It's often never a problem until it poses a challenge. That's just how it is and have always been around things and it was only a matter of time before it fully materialise in the cryptocurrency industry.
Exchanges aren't wallets, they've got wallet addresses but they aren't wallet and treating it exchanges as though they were wallets is some wrong application of the system. There isn't anything strange about this but, haven't experienced it creates no real threat but people have got to understand now. It's not always going to be about hacks, but some CEOs selfish interest is another thing to contend with too.
Exchanges aren't wallets, they've got wallet addresses but they aren't wallet and treating it exchanges as though they were wallets is some wrong application of the system. There isn't anything strange about this but, haven't experienced it creates no real threat but people have got to understand now. It's not always going to be about hacks, but some CEOs selfish interest is another thing to contend with too.
DEX is the best place to exchange crypto assets and a personal wallet is the best place to store crypto assets for the long term.
Most traders know this but only a few of them practice it and that could be because Dexs aren't as voluminous in trades as Cexs. Dexs don't have more options to trade from. Traders like options but when these options are limited (or restricted) they tend to move away to where options are readily available like plants to source of light. Perhaps, may be Dexs will begin to expand now and incorporate more tokens to trade from going forward. 
Bitcoin has a certain risk where the price is highly volatile and not everyone can accept it, there's many people who say they're fine to hold for a long time with Bitcoin, but when the bear market happen and there's few shitcoins are pump by manipulation, they will convert their coins to that's shitcoins. It's hard if they can't learn the meaning of holding and make sure you're only invest with amount that you can afford to lose, don't take loan to invest Bitcoin.
It will be a whole different feeling when people are put into the actual circumstances. It is beyond control when these newcomers lose the excessive value of their money or when they find shitcoins that are pumping. We can only count newcomers that are keeping their Bitcoins in hard wallets, the majority always keep them in centralized exchanges like FTX and Binance.
In order to abstain from the emotional effects of pumps and dumps, keep Bitcoins in our hard wallets and forget them. Only people that are financially immature will borrow money or apply for loans to invest in Bitcoin or anything highly volatile and risky.
Bitcoin has a certain risk where the price is highly volatile and not everyone can accept it, there's many people who say they're fine to hold for a long time with Bitcoin, but when the bear market happen and there's few shitcoins are pump by manipulation, they will convert their coins to that's shitcoins. It's hard if they can't learn the meaning of holding and make sure you're only invest with amount that you can afford to lose, don't take loan to invest Bitcoin.
If you want to sleep freely and be happy stay out from hodling in exchange, and stay away from altcoins. Bitcoin survive in the bear market no how tough it will be. Only Bitcoin can make you smile while waiting for bull. Know this and know and have peace.
To be fair, there's no reason to stay away from exchanges, as you say it's just a tool to make it easier for us to buy, sell or exchange fiat. In essence, as long as you never leave your assets on it, and always withdraw everything to your personal wallet at the end of the trade, there shouldn't be any issues for us.
As for altcoins, those are extremely risky investments, for those who do not have enough knowledge and do not like to take risks, it is best to stay away from them, do not touch them.
Don't blame others when you lose, the decision is yours, no one is forcing you to do anything, no one is forcing you to put your money on the exchange or invest in altcoins.
One cannot do without an exchange if they are traders but, another can stay without exchange and use them any time he wants to change a certain currency, he owns, to bitcoin or Altcoin. I think Op made a good point for newbies to adhere to and learn. To me exchanges remains a hub for swapping currencies and after every transaction I leave some fragment of the coins which I won't, in anyways, be bothered to lose.
One can never really do without an exchange in the cryptocurrency industry. In the phase of not having a global adaptation of cryptocurrency, exchanges have been one of the ways to ensure proper utilisation of our hard earned cryptocurrency and investments. It gives you the opportunity to trade it against other cryptocurrencies and fiat as well.
Given the usws cases of exchanges, its not entirely easy to just not want to leave your coins online at some certain time. You tend to look a the charge involved in trabsfeeing this coin back and forth which is worst most especially when transfeeing from exchanges to wallets so, people tend to believe it would be safe and leave it but, you never can tell when the danger would come.
Understand the danger and minimise the risk.
Given the usws cases of exchanges, its not entirely easy to just not want to leave your coins online at some certain time. You tend to look a the charge involved in trabsfeeing this coin back and forth which is worst most especially when transfeeing from exchanges to wallets so, people tend to believe it would be safe and leave it but, you never can tell when the danger would come.
Understand the danger and minimise the risk.
If we are to consider the impact of what the centralized exchanges had created both the good and the bad i think the bad that has rendered many into penury is much higher when we consider the amount worth of assets involved, there are some actions and decisions we engage doing sometimes without knowing the consequences that may comes in after it, this kind of error is what we believe to be common with newbies but an experienced cryptopreneur shouldn't consider his decision to invest on other cryptocurrencies as a means to denied him of right to happiness but it's also what he has signed to happened from the start his investment.
If he doesn't know more, then just buy and keep, don't trade because this also requires a strategy to understand it, so even if you buy we have to realize that buying at the peak is also not the right time, for example, now is the right time, maybe for beginners who want to invest now is the time and most importantly they must understand the investment being made, don't just rely on recovery in the future because that also needs our calculations to target it.
Maybe it's better not to panic, don't be FOMO, that's what makes you stick with Hodling.
Not panicking and being able to avoid FOMO certainly requires good self-control so you don't fall into this trap. Now is indeed the right time to start buying because the price drop from the last ATH was around 75% and this is a very drastic drop. If you don't take advantage of the current opportunity, whether or not there will be a bitcoin price below $20k in the future. buy and hold might be more helpful to get maximum results. Maybe it's better not to panic, don't be FOMO, that's what makes you stick with Hodling.
The majority of people prefer to buy altcoins, however most of these alternative currencies will not survive current bear market in comparison to bitcoin.
This current bear market is going to help the crypto space, it's going to wipe off some shits coins, atleast we will be able to breathe fresh air in crypto space again once the bull run start. Crypto space is just full of altcoins which most of them are shit coins, scam coins and pump and dump coins, must of those coins will die in this current bear market, only the strong altcoins is going to survive the bear market. But if you are still planning to invest then we should all invest in bitcoin, no altcoin can be trusted, any altcoin can fail us at any moment, so it's better we just invest in bitcoin. consumers will not entirely give up on holding their money on an exchange. What is happening now, in my opinion, should scare people away from holding their assets in an exchange.
Am sure not everyone will withdraw their money from exchange, some people haven't expressed exchange hack before so those once won't listen because they don't know how it feels to lose all your investment to exchange hack. If you want to sleep freely and be happy stay out from hodling in exchange, and stay away from altcoins. Bitcoin survive in the bear market no how tough it will be. Only Bitcoin can make you smile while waiting for bull. Know this and know and have peace.
Indeed bitcoin can make us smile while waiting for the bull but remember that many people still cannot sleep freely and are happy because they are still thinking about the ups and downs of the bitcoin price.
Those who buy at $18k-$20k won't be able to sleep well, considering that the price they bought was high compared to the current price.
But if you are ready with all the risks of investing in crypto, you should still be able to sleep well because you know that the coins you have will surely increase in the future.
If you want to get better security out of the experience, you'd better own your Bitcoin rather than keeping them in the care of a centralized service. Don't buy into "better technology" or any other such buzzwords that may or may not have their basis in truth. A decentralized, peer-to-peer money like Bitcoin should only be used if you're willing to take responsibility for your own security. If you're not willing to do that, then Bitcoin is probably not for you.
This is a lesson that many learn too late, unfortunately.
I remember a friend who invested in bitcoin and held it in an online, web wallet. I guess he went to a fake site once because all the crypto funds he had in his wallet were stolen.
This happened just a few days after he bought bitcoin and opened that wallet.
After that he was angry and said that bitcoin is not for him, that he will not invest in crypto anymore.
Unfortunately, there are a lot of cases like this, and that's why we have to always teach and warn new users to be very careful about the security of their crypto assets.
Only the minimum funds necessary for trading should be kept on crypto exchanges, using all available levels of online protection, and all other funds should be kept offline. I personally use Ledger for this purpose.
If you want to sleep freely and be happy stay out from hodling in exchange, and stay away from altcoins. Bitcoin survive in the bear market no how tough it will be. Only Bitcoin can make you smile while waiting for bull. Know this and know and have peace.
A bad experience with CEX (FTX) taught me one thing not to keep funds in CEX for too long, until now I still haven't got the assets that I have withdrawn from there. DEX is the best place to exchange crypto assets and a personal wallet is the best place to store crypto assets for the long term.
If you want to get better security out of the experience, you'd better own your Bitcoin rather than keeping them in the care of a centralized service. Don't buy into "better technology" or any other such buzzwords that may or may not have their basis in truth. A decentralized, peer-to-peer money like Bitcoin should only be used if you're willing to take responsibility for your own security. If you're not willing to do that, then Bitcoin is probably not for you.
If you want to sleep freely and be happy stay out from hodling in exchange, and stay away from altcoins. Bitcoin survive in the bear market no how tough it will be. Only Bitcoin can make you smile while waiting for bull. Know this and know and have peace.
If you want to sleep freely and be happy stay out from hodling in exchange, and stay away from altcoins. Bitcoin survive in the bear market no how tough it will be. Only Bitcoin can make you smile while waiting for bull. Know this and know and have peace.
If you want to sleep freely and be happy stay out from hodling in exchange, and stay away from altcoins. Bitcoin survive in the bear market no how tough it will be. Only Bitcoin can make you smile while waiting for bull. Know this and know and have peace.
Maybe for some who bought bitcoin at cheap price they are relax and contented but foe those who bought at high price, see how their investment tremble now. Some might sold at a loss just to get something back but of course, risk is associated with this, sleeping can be achieve even without looking on prices itself but just stat calm and watch it recover. 
many investors buy bitcoins as a long term asset and they don't care what happens in the market. because they know that bitcoin will remain bitcoin that will never be disturbed by any situation. and we all know that bitcoin always brings the best in the future.
so for this kind of market situation more people will buy bitcoin and hold it in deep sleep without thinking about fear
so for this kind of market situation more people will buy bitcoin and hold it in deep sleep without thinking about fear
I agree. It's nice to hear this from a newbie. I hope you are living this advice of yours. It may also help to spread this very simple yet very important strategy to your fellow newbies in your local crypto community.
If I may go a little further, though. It may actually not be enough that you HODL your Bitcoin out of centralized exchanges. Take it out from any custodial services, from any wallet where you don't solely control your private keys. Take it out from closed-source wallets as well. If possible, HODL them in a cold wallet. That's the safest option!
If I may go a little further, though. It may actually not be enough that you HODL your Bitcoin out of centralized exchanges. Take it out from any custodial services, from any wallet where you don't solely control your private keys. Take it out from closed-source wallets as well. If possible, HODL them in a cold wallet. That's the safest option!
Jump to: