Can you dumb this down for me? My eth is currently on Crypto.com and Kraken. Are those wallets or CEXs? The eth in Crypto.com is staked until eth2 happens. Kraken’s holdings are locked for 90 days earning yield.
Although I agree with this old principle, I have been in crypto for more than 6 years and I still find it stressful to store my crypto on my own, and this despite the fact that roughly half of the exchanges I have been registered to ended up being scams.
I think that's because I still somehow don't feel totally comfortable with mnemonic.
Thus I am still holding a significant portion of "my" crypto in exchanges, in order to have risks of different nature.
If I am not ready for this (developer, geek, privacy-friendly person), I won't ask my friends to be so.
I am starting to explore the "L2" wallets such as Loopring or Argent and I like the way the recovery works.
I am sure in the future it will be considered crazy to own your asset in a single-sig account without recovery alternative.
Thus I would not encourage people to do that with large amount of capital, because it expose them to what can be a bigger risk than exchanges : themselves.
Can you dumb this down for me? My eth is currently on Crypto.com and Kraken. Are those wallets or CEXs? The eth in Crypto.com is staked until eth2 happens. Kraken’s holdings are locked for 90 days earning yield.
I appreciate your advice!
Although I agree with this old principle, I have been in crypto for more than 6 years and I still find it stressful to store my crypto on my own, and this despite the fact that roughly half of the exchanges I have been registered to ended up being scams.
I think that's because I still somehow don't feel totally comfortable with mnemonic.
Thus I am still holding a significant portion of "my" crypto in exchanges, in order to have risks of different nature.
If I am not ready for this (developer, geek, privacy-friendly person), I won't ask my friends to be so.
I am starting to explore the "L2" wallets such as Loopring or Argent and I like the way the recovery works.
I am sure in the future it will be considered crazy to own your asset in a single-sig account without recovery alternative.
Thus I would not encourage people to do that with large amount of capital, because it expose them to what can be a bigger risk than exchanges : themselves.