“Don’t Lose Your Money in Crypto”
Coinbase sent out a message to customers claiming users could lose their crypto assets if the company went bankrupt. It was problem one for Coinbase users. The word bankruptcy caused a great deal of concern. Coinbase shares were dismal for months. The company reported losses in the first quarter of 2022. It is crazy timing. The company apologized, blaming the new SEC requirement. CEO Brian Armstrong made a statement, “that everyones’ funds were safe and the company was not at risk of bankruptcy.” This was their way of disclosing information a little TOO late. If you have NOT moved your funds away from Coinbase and all crypto exchanges, it is time to do it now.
Problem two with Coinbase is they sold a mix of information to Immigration and Customs Enforcement (ICE). That allows ICE to trace and link users’ data and transaction history. This is an invasion of your privacy. Another reason you need to move your funds away from crypto exchanges and store your funds on a hardware device called cold storage, a digital wallet.
Cold storage is a great solution to store your cryptocurrencies. Cold storage wallets are easy to use and resemble USB drives. Cold wallets are considered the most secure to store your cryptocurrencies. One security feature is that cold wallets are offline devices, not connected to the internet. For added protection, you assign a personal pin. All computer operating systems support cold wallets. There are endless advantages. Cold wallets are the best solution to store and manage your funds.
Sandra Buttry Harlem Crypto Dao
