halalmoney on Nostr: “Self-custody is easier than ever. If you don’t self-custody, please start.” ...

“Self-custody is easier than ever. If you don’t self-custody, please start.”

quoting note14t8…f8fu

I managed to avoid getting caught in the Mt. Gox debacle by pure luck. I stuck with Kraken and Coinbase mostly during the 2016-2018 era but still wasn’t hardcore on self-custody.

By 2020 I was convinced that we’d arrived and putting some bitcoin on Voyager to earn interest was safe. I read a piece by lopp (npub17u5…t4tp) that convinced me I was wrong so I pulled my bitcoin back to cold storage and after seeing how easy it was I went and got it all off exchanges. Voyager collapsed a few weeks later. I ran into lopp (npub17u5…t4tp) In El Salvador and got to thank him in person. Saved me about a half million in today’s prices.

Bull markets make us dumb and the side effect is exchanges blow up and plebs get ruined. Self-custody is easier than ever. If you don’t self-custody, please start. If you do, find someone who doesn’t and teach them.