The Modern Way To Trade is Safer.

in inspirational •  2 months ago 

The Modern Way To Trade is Safer.
Many people still use third party exchanges. They use them to trade crypto on a daily basis. If you truly think about it, this was not what Crypto was meant to be. Giving your coins to a third party is the biggest risk you could ever understand. Let us go back in history.

MTGOX was the one and only crypto exchange when Bitcoin was in it's early years. Bitcoin at the time was not even worth 10 cents, but the centralized exchange was able to handle the volume of trade. MTGOX was not originally an exchange for crypto currency, in fact it was a gaming exchange, Magic The Gathering Online eXchange. Once Bitcoin when up the exchange was fine, but when the price fell the exchange had no funds. They claimed they got hacked and millions of dollars were lost.

Cryptsy was another exchange that also dominated through the early years. It too also fell and a lot of people lost money. In December of this year the Coinexchange.io will close it's doors. The third party exchanges are not what you should be focused on in the first place. What if I told you to stop looking at a lot of coins and focus on the right ones. Then you can use a safer way to store your coins and exchange them from your own wallet.

I am not going to decide which one you could use, that should be up to you, but there are many multi-coin wallets on the market that make it easy to exchange coins right from the palm of your hand. Just to name a few: Coinomi, Exodus, Atomic wallet, and many others are coming into play. The realization that third parties will always let you down, should be the main factor you trust only yourself. I use Exodus and I can trade even NEOS to BTC and since NEOS is one of those coins that stake I can trade when I am ready. The best thing about NEOS you do not have to have the wallet open 24 hours a day.

If you want to get the most profit, and you want to have the less availability to be robbed, then it is time to take the exchanging of your coins in your hands. Think about it you are responsible for yourself. Do not allow others to take high fees and rip you off. You must take full control of your money.

Why do you think that when Bitcoin first came out the rule was, "You are your OWN bank."

Source https://www.publish0x.com/my-crypto-info/modern-way-trade-safer-xzqejzhttps://www.publish0x.com/my-crypto-info/modern-way-trade-safer-xzqejz

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!