DON'T LET THIS BE YOU!

https://www.theblockcrypto.com/linked/92779/robinhood-crypto-outage-bitcoin-slide

Don't store your crypto in places you don't control.

Many of you are new in this space, so you may not be aware. Many exchanges (even reputable ones), have "outages" during times of volatility. If you're not in control of your crypto, then this can and will likely lead you to losing profits WHEN it happens.

As the old saying goes, "Not your keys, not your crypto.", is very true. I like Robinhood, though I've had a similar issue with them, with regards to Tesla stock, at a time of high volatility. I still like Robinhood, but not for crypto. For crypto, it's nice that they allow you to buy and sell crypto, but you don't hold the private keys, meaning "your" crypto is THEIR cypto.

So anyway, that's all I wanted to say. Hold your own crypto and don't be an "outage" victim. Stay safe, guys. Happy investing.

Robinhood.. ironic name

The only solution is trading on decentralized exchanges

Not you keys not your coins is all well and good if you are not planning on selling.

Better advice would to be spread across a few trusted exchanges with the bulk on your own private wallet. At least that way you still have a chance of selling something regardless of exchanges going down and network congestion.

So whats your advice then?

For example Bitpay, as far as i know thats like a private wallet. That better for holding it?

That sucks. I lost a hard ledger with about $1k worth of BTC..

DamnAdam said:

That sucks. I lost a hard ledger with about $1k worth of BTC..

Click to expand...

You can get another ledger and import your private keys and get your BTC back. You can't do that with an exchange, but a ledger wallet is yours and belongs to you.

My crypto goes between Binance, reputable dexs and my Trezor Model T.

There's no need to use any other platforms in the crypto space in 2021 to make bank and be safe. I would happily store all of it on any one of these for months without blinking.

Didn't Ledger get hacked recently?

Edit: did the ghost of christmas past just like this comment?!?!

VSYNC said:

My crypto goes between Binance, reputable dexs and my Trezor Model T.

There's no need to use any other platforms in the crypto space in 2021 to make bank and be safe. I would happily store all of it on any one of these for months without blinking.

Didn't Ledger get hacked recently?

Edit: did the ghost of christmas past just like this comment?!?!

Click to expand...

Ledger got hacked a few times over the years. To my knowledge, the only people that lost crypto were those who fell for phishing scams, as the only thing gotten from the recent hack were names, addresses, email addresses, and phone numbers. Still bad, but with common sense, your crypto was still safe.
More info, here.

Noobs

Wow. I opened Robinhood this morning. Using the search function, I cannot even search for game. As soon as I type 'g', I get a server error. I only wanted to look at it lol.