Investors who leave their cryptocurrency in the custody of an exchange are like people who invest in Starbucks even though they don't drink their coffee. They might make good technical money, but their actual understanding of use cases and value propositions is questionable.
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I think you're entirely wrong. Crypto is a belief system just like physical money. The storage of it will reside with exchanges and banks. Most people don't want to maintain their private keys they simply want to transfer money from x to z...
You don't understand what you are doing. Sell your crypto and go back to investing in the banks that you apparently know and like quite a bit more than you do cryptocurrency.
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Can you elaborate on the benefit of holding your own keys? IMO its simple. I fully believe currency will be digital and decentralized but the storage part is just a service (utility). I trust
@binance who can allocate more time and resources at safely protecting keys -
the key word there is "trust".
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Indeed if you trust crypto custodians, who are rookies and often loose peoples' crypto, then you should be much more trusting of banks who have far more experience and are far more reliable. So then why put your money in crypto instead of banks?
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Lmao, you really thought the value proposition of bitcoin was that banks can’t be trusted to store money? This is gold.
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No. The service of storing wealth for others is *not* threatened. This is in *no way* what Bitcoin distrupts. On the contrary, it’s a great opportunity for old or new banks because Bitcoin presents both new challenges and possibilities for storage.
End of conversation
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