Thanks for your valuable experience report. So are Coinbase, Bison etc. also crypto exchanges and thus not safe like Mt.Cox etc.? The one with blockchain, hardware for mining etc. was too complicated and too hot for me to keep my hands off and instead invested in share Bitcoin Group SE on suggestion of a buddy in 2017, which I sold a few years later with 54.84% loss. The price always went only in this direction ↘️ & rarely to ⬆️ since my entry. Fortunately, the amount was less than 600. Since then, cryptocurrencies are definitely excluded with me. However, I was never convinced of the business model before entering.
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@TheDividendCollector Yes, Bison and Coinbase are also crypto exchanges but much more regulated than Mt. Gox back then or Binance today and therefore also 'safer'. I would trust these two more. Nevertheless, there is always a risk, which is why I would always recommend to pull the coins from the exchanges if they exceed a certain amount. Through my loss, I learned the meaning of 'only invest in things you understand'. At the time, I didn't understand cryptos. I saw cryptos and blockchain as an object of speculation and not as a way to decentralize central institutions such as banks, notaries or even companies and make them more efficient. Put simply, banks are to become superfluous with Bitcoin. And what do I do? I entrust my coins to a kind of bank that manages my cryptos for me 🤔😅😱. Therefore: Not your keys, not your coins 😉
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