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For the casual bystander with crypto parked in Coinbase vaults, and maybe some eth staked - what's the consensus among those more knowledgeable? Move assets now

• pabloarteel 3y ago
  One of the few benefits of crypto is to "be your own bank" and not needing 3rd party permission to move your assets. Withdraw to cold storage, dump everything except bitcoin, and of course, do your own research.
  • ceroxylon 3y ago
    ...and send a test transaction before you send it all.
    • deleted 3y ago
      [deleted]
• EscapeFromNY 3y ago
  Self-custody is the way to go. Send your assets to a private key you control. Not your keys, not your coin. I sleep like a baby no matter what sketchy exchange is in the news any given week.
  • tortilla 3y ago
    Exactly! My grandpapa drilled it into me at a very young age. “Tortilla! Not your keys, not your coin! Eat your vegetables.”
  • Alupis 3y ago
    Yes, but for regular people, like myself, being responsible for those keys is a pretty sizable burden. I didn't speculate on crypto because I hated centralized banking...
    • EscapeFromNY 3y ago
      At the end of the day, figuring out whether new crypto companies are trustworthy might be as much of a burden as figuring out how to handle the keys yourself. If you really don't want to self-custody, probably the next safest option is to skip all the new crypto companies and instead use one of the traditional finance companies that's starting to branch into crypto (like Fidelity)
  • saalweachter 3y ago
    The problem with that is you can't get overnight rich by buying a coin and holding it in an offline wallet anymore. You either need to be day trading off the wild fluctuations in different coins prices, which requires working through an exchange, or you need to be "investing" in various scams and hoping to get your money back out before the rugpull.
  • adrr 3y ago
    I wonder how many billions of dollars are gone because of lost keys or how much was stolen because your wallet was compromised.