Simply curious what you’ll do in my state of affairs…
I foolishly deposited $500 USD onto CDC utilizing their prompt purchase function when BTC dropped beneath 16k final week. I purchased $100 at or beneath 16k and arrange a recurring buy for the remaining $400 over the following 8 days. I’m anxious CDC will go bust earlier than my funds settle (Nov twenty third) and I’m able to withdrawal BTC to my ledger.
Undecided if that is true however I learn someplace that in case you have fiat on a CEX once they go bust you’ll almost definitely get 100% of that again, however the identical will not be true for the crypto held on CEX.
Ought to I promote the BTC I’ve bought thus far and keep in fiat till my funds settle and simply withdrawal again to my financial institution?
I recognize any response TIA!
4 thoughts on “Want some recommendation… Crypto.com”
Reddit is a poor source for seeking financial advice. Bitcoin is a risky investment. [Don’t invest recklessly.](https://www.reddit.com/r/Bitcoin/comments/7gi55s/dont_invest_recklessly/) Don’t invest anything you can’t afford to lose. If you are looking to get rich quick, you came to the wrong place. Nobody has a crystal ball. Nobody can see the future. Please do your own research and make your own financial decisions.
*I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/Bitcoin) if you have any questions or concerns.*
I think that this exchange will be one of the last to go bust if that helps. I stopped using them when they hiked their fees. I was paying 20% to buy and move to an external wallet. Screw them.
The fiat thing is 100% a lie.
The bank that [crypto.com](https://crypto.com) uses to store your USD is likely FDIC insured but that doesn’t protect you, the user, in any way shape or form against [crypto.com](https://crypto.com) becoming insolvent and your funds being lost from mismanagement of liabilities.
This is something A LOT of crypto exchanges say about their “deposits being insured” when really they’re not talking about customer deposits in the event of THEIR insolvency, rather the bank going insolvent.
Just transfer the btc you have bought so far out to your ledger and eat the withdrawal fee each time to be safe if possible.
if you are worried about losing 500 bucks….u shouldn’t be in crypto