Read on Twitter
1/ I've been having some forbidden thoughts:
I THINK IT'S OK TO RECOMMEND STORING BITCOIN ON EXCHANGES or similar custody services, for some people.
During my Twitter break I published some longer posts on my telegram channel. You might have missed them, so, see THREAD
I THINK IT'S OK TO RECOMMEND STORING BITCOIN ON EXCHANGES or similar custody services, for some people.During my Twitter break I published some longer posts on my telegram channel. You might have missed them, so, see THREAD
2/ The downsides are obvious. Not your keys. KYC. Downtime...
But many are used to those risks and understand them. They use brokers all the time for all types of investments. It feels safe. Why not for bitcoin too?
Full post here: https://t.me/HaveFunStayingPoor/22
Or keep reading
But many are used to those risks and understand them. They use brokers all the time for all types of investments. It feels safe. Why not for bitcoin too?
Full post here: https://t.me/HaveFunStayingPoor/22
Or keep reading
3/ The issue with recommending self-custody wallets is that you still trust the wallet maker in many ways, like with updates, and over time things change.
Think about wallets you recommended 3 years ago. Or 6 years ago if your friends are lucky. Would you still recommend them?
Think about wallets you recommended 3 years ago. Or 6 years ago if your friends are lucky. Would you still recommend them?
4/ Unless these people have an expert on-hand to help them navigate the changing landscape of custody solutions, or unless they're willing to become experts themselves... they're better off outsourcing security to professionals.
Third party custodians.
Third party custodians.
5/ It's time to stop being purists and accept people who won't/can't become experts. They still have a lot to gain from Bitcoin, and a lot to lose by not buying any.
Please read the full post here before cancelling me: https://t.me/HaveFunStayingPoor/22, and consider subscribing for more!
Please read the full post here before cancelling me: https://t.me/HaveFunStayingPoor/22, and consider subscribing for more!
