Once I have a good chunk of in Coinbase, I will start transferring them into a hard wallet. Plus if Coinbase goes down, cryptos will go down with it, I don't think Coinbase and the people that work at Coinbase don't want to be next Bitconnect or Mt. Gox. I remember the Mt. Gox issue. Yet, Coinbase stands nice and strong. Exchanges will come and go. But I do have a lot of trust in Coinbase, will I have my life savings in Coinbase, no. I will store it into hard wallets.
RE: A Cautionary Tale: Bitconnect's Fall
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A Cautionary Tale: Bitconnect's Fall
I agree. I have a Ledger Nano and whenever one of my coins doubles I sell half and take profit. No exchange is 100% safe and a lot of people keep money on them in the hopes that maybe they will get in on a dip and sell on a moon. Realistically, myself included, most people don't really understand how to trade crypto to be consistently profitable. For 95% of people their best option is to buy coins and put them in cold storage for a year.
People should take comfort in the fact that we are so early in the market that 5 years from now they might be sitting on a few 100k that they would have lost had they panicked and sold.
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