Im largely speaking to those that had a excessive proportion of their portfolio with considered one of these corporations. I’m not making an attempt to hate or disrespect anybody that misplaced cash to those slimy corporations. I’m simply making an attempt to get an concept of what stage of understanding of cryptocurrency you might have.
1. Did you perceive the dangers of trusting your keys with a custodial pockets and that you simply didn’t even have management of your cash?
2. Do you know that self custodial wallets similar to software program and {hardware} wallets existed and that you may take bodily management of your cash?
3. What cash have been you holding in these accounts?
4. Have you ever given up on crypto?
I lost 54k of shinjiro SHOX.
I’ve got 1K stuck on Celsius. Mostly BTC but also all my Matic. Entering the space at the start of last year I hadn’t experienced an exchange or lending platform going bust so thought I was relatively safe. Due to all the Celsius FUD on this sub I withdrew half of my Celsius assets the day before withdrawals were halted. Guess I got lucky
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I have like 98% of my holdings in my own custody. The other 2% is sheer laziness
Celsius i used like 2 months into my crypto journey, just BTC and ETH but a decent amount. Knew it was atleast a little bit risky so i didnt have all of it there of course. The yield wasnt really important to me but i was really new and i was more concerned that i would fuck up custody of my stuff and yeet it into the nether than i was about ponzi-fraud-flywheel-illegal bank-bankruptcy
Some lessons are taught by the harshest means
This one is about being responsible for your own holdings and not trusting someone else with it
Would you give your cash to someone you don’t know at all or ever met in your life just because other people are doing it
Hardware wallets are a must
Never giving up on crypto, this is a harsh but rewarding space as every bear and bull market has shown us before.
Never give up. It always gets worse before it get better.
That people should know that there is always another option another way to resolve things
I had my BTC on Celsius for close to a year. I even transferred from my cold wallet to Celsius for the yields. The crypto community made me feel like it was safe and you were missing out on a guaranteed thing if you didn’t hold crypto on the platform. After I got deeper with BTC, I realized the folly of my ways. How could 5% APY be worth not having self custody? I got smart and took everything off about four months before they froze withdrawals.
Yes I understood the risk.
Yes i do have self custody funds as well
Had some bitcoin eth ltc usdc gaining interest was looking to take a loan out to expand by business in the near future.
No I haven’t lost faith in crypto, hell I even feel like placed like blockfi will be necessary in the future just was shit luck they were exposed to ftx instead of being bought out by nexo and I was too lazy to follow crypto for the last few months to look for warning signs of a possible collapse in the industry.
What is it Jan 3rd … national not your keys day?
People wanted to collect passive income on their coins, bro, no need to browbeat them and play Johnny-after-the-fact. Most people don’t think a crime will happen to them until it happens to them.
Glad i got a ledger in 2017 when i first started
I have $3K worth of ADA stuck on Celsius in a custodial account. I was moving coins around and didn’t get it out fast enough. I got the claim confirmation from the Bankruptcy proceedings the other day. Hope to get some percentage back in a couple years.
Thankfully I got 10 ETH off there months prior…
I was stung by the whole Celsius fraud.
1. I did understand the risks of not holding the coins myself. I fell for the promise of yield, and chose to try to ern some yield and a portion of my holdings.
2. The remainder of my holdings are in various places. The vast majority are on my Ledger and various software wallets. I do still hold a small portion on exchanges.
3. I was keeping about 1/6th of my BTC and all of my LINK on Celsius.
4. Hell no!
I have already bought back twice as much as I lost through Celsius (though my cost basis is still not ideal). I fully intend to buy more at this stage of the market cycle.
While I (an many others) made a clear mistake trusting Celsius, Q 1 & 2 feel very condescending.
I plan to make less bad mistakes in the future, and I now know yield is a bit of a pipe dream.
They just remind us the importantance that exchanges are not banks, just sevices to buy and gtfo.
I had about $12k on Celsius of btc and eth. Just had to start over, I’m just happy because it could have been a lot worse lol.
Theres not much difference between watching your money disappear on an exchange or in a wallet.
I lost money on FTX but I lost more trading leverage. I also gained money on FTX and also gained more trading leverage.
Just because you put your coins in a ledger doesn’t mean you wont get run over by a car.
r/CryptoBrains
Not giving up on crypto “YET”! I vaguely understood the risks. Heavy stable coins and some altcoin with good APY. Was lazzy about software and hardware wallets. Lessons learned.
Stuck on blockfi.