Lessons from Yesterday's AMA by @Khaleelkazi: Not your keys, not your crypto - Don't trust centralized platforms for your crypto security

Hello LeoFinance ecosystem! I trust you're doing well in your various pursuits in life and here on the Hive blockchain. Good morning to you all.

image.png

Source

My post today will focus on securing our crypto assets by securing our keys properly. Just stay tuned as we see how some crypto multinational corporations have fall down the drain in most recent times.

Reading yesterday's AMA just brought a quick reminder to my memory that no one is to be trusted in the cryptoverse. This isn't to undermine your integrity as a person, but to create a security mindsets around your crypto assets.

In the AMA @khaleelkazi highlighted the following points:

With the downfall of crypto platforms like Coinbase, Voyager, and Celsius its important to always remember Not your keys, not your crypto. If these events, have taught us one thing it should be to never trust a centralized system to hold your assets safely.Source

Everyone who has been in the cryptoverse for awhile, should be able to attest to the fact that Coinbase, Voyager and Celsius are big names in the crypto exchange industry and have the ability to pull billions of dollars into their industries through exchanges and transactions.

These platforms have put a bad name on the crypto industry because people have lost everything just because they were not educated enough on the true protocols of securing crypto.Source

Trust have been the major challenge facing businesses and relationships in general. It's crystal clear that due to the monetary involved in the cryptoglobal, many have developed greedy mindsets in order to undermine their fellow crypto users.

One of the wrong platforms to entrust your crypto assets to, most especially your keys are the centralized platforms, which can decide to change your keys for their personal aggrandizement.

Remember as @khal said, not your keys, not your crypto. Everything around the cryptoglobal is centered on keys and your ability to secure those keys is crucial for your success in the cryptoverse.

On a daily, we see fraudsters increasing in the cyber airspace and with this occurrence, we're confident to say that the biggest cyber fraudsters are the centralized platforms that we comfortably secure our keys in.

Lessons Learnt

  • trust no one, but yourself.
  • decentralized ecosystem is always better than the centralized platforms.
  • look for more secured wallets and move your crypto keys to.
  • always remember that, not your keys, not your crypto.

I'll conclude by saying that, everyone on the hive blockchain should be careful the crypto exchange platforms they use in their crypto transactions. I'll not mention any for you but you can verify the best that suits your crypto assets.

Posted Using LeoFinance Beta



0
0
0.000
0 comments