Comment by TheAmazingRace
7 months ago
But they need exchanges to get real money to flow in and out of cryptocurrency easily. Without it, cryptocurrency by itself would likely be worth far less than it is today.
7 months ago
But they need exchanges to get real money to flow in and out of cryptocurrency easily. Without it, cryptocurrency by itself would likely be worth far less than it is today.
Yes that's true, but no need to hold your crypto there as a permanent storage. Once your fiat is exchanged to crypto, immediately transfer the crypto to your private wallet.
This just trades the unsolved exchange hacking problem for the unsolved lost/stolen keys problem.
That problem is trivially solved by backups.
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Theft or loss has always been a problem since life evolved on Earth.
I don't think anyone claimed that crypto was un-losable or un-stealable. It's not magic.
https://cryptosteel.com
1 reply →