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RE: Centralized Crypto Lending Platforms Are Going Bankrupt

in LeoFinance2 years ago

First and foremost, this shows why cryptocurrencies were originally developed: To be able to avoid the central issuer risk. If you still have large balances with centralized custodians, get a self-custodial hardware wallet and withdraw your funds as soon as possible.

If you're a trader, it's okay to maintain some balances at exchanges, but if you're a long-term holder, stick to the above advice.

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That's fair. But yeah my advice would be you can still trade in a decentralized way with your wallet too for ultimate safety.

However, even trading on decentralized exchanges is associated with risks (mainly smart contract risk).