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RE: Custodial Comforts in Crypto Can Be Dangerous

in LeoFinance3 years ago

As I secure more bags I do want to lock them up into multi sigs and then do the cold bits steel storage but my forever HODL isn’t that big yet! But I need to make plans for once I do get there!

I also set a custodial lightning wallet was an absolute bloody nightmare but now that is running I want to use that as my every day BTC wallet since you can do on and off chain with it

And with exchanges supporting lightning and LIFI rolling out it’s going to be vital

Exchanges are going to need to up their it interest rates if they want to keep liquidity because if your coins are appreciating at higher than 4% for example then 4% isn’t exactly enough to take the risk of leaving a lot of liquidity with them

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I'm making plans already for the cold storage so I'm fully prepped to dump the forever HODL stash away for 10 years.

Loving the sound of those lightning wallets, hopefully they can make them a lot easier to navigate but I imagine once you get set up, you are over the worst of it and the rest is plain sailing.

Agree about the exchanges, 4%-6% on BTC doesn't seem like it's worth it if the asset has been going up 200% on average each year and you have other faucets that you can use to increase your sats holdings anyway which you can then lump in to your self-custodied wallet...