Stop loss saves me from losing more money, and this one works for me but of course you have your own strategy and Stop loss might not be option for you.
If you don't know what to do when the market dumps, better not to panic and asses your strategies or look for other way that fits your trading style, some don't have a stop loss at all but they remain profitable because they are buying at the bottom price and sell at the peak price.
I think everyone should use stop loss because it could be very important at some point, most times we trade without stop loss and feels it isn't that important because we know how to read charts and also have a large equity, but in crypto anything can happen! Talking from experience, I learnt the usefulness of stop loss when there was a great massive market crash and I wasn't there to close my trade cut my losses, so bad my account got liquidated, had it been i used stop loss my account would have been saved by now If you don't know what to do when the market dumps, better not to panic and asses your strategies or look for other way that fits your trading style, some don't have a stop loss at all but they remain profitable because they are buying at the bottom price and sell at the peak price.
Stop loss is helpful, When a trader can use it properly.
