It was such a CRAZY SUNDAY for me today as I spent almost the entire day indoor due to heavy rain. I should have went outside to fix some small water tank problem but I guess it has to wait until tomorrow.
Well, as I spent the day going through Hive and Twitter, I saw one of the Tweets posted by some anonymous individual that goes, Install Binance, Buy and Uninstall.
I might consider to Install, Buy and Uninstall Binance
Hold that thought.
Before you make any judgement, hear me out.
At first, I was stunned momentarily and kind a made some spontaneous thought on this.
I thought to myself, "Yeah, why not?"
I felt that this is also considered as some kind of a hodl technique for the long term. In fact, it can be a stupid but much effective way of hodling.
I mean, what can go wrong with it?
Hence, I listed some random short pro and con of this method.
PRO
1. Guaranteed way of hodling
Once you done buying your preferred cryptocurrency and uninstalling that wallet, you are guaranteed to not touch on them for a really long term.
2. Less hassle to ever think about them
This is true! Once you uninstalled them, you are never going to be tempted by such Tweets from Elon.
CON
1. High risk?
You may face a high risk purchase because that DAX might steal your crypto.
2. Lost of password
Well, this may sound absurb but as a human being, you may face this shit.
My personal thought
As far as the listed cons are concerned, it can be managed. For instance, I can choose Binance for the means to store my crypto looking at how high profile this exchanges are and the risk of them running away with your crypto is significantly lower. On the lost password part, I should ensure to safe keep them in a safer but retrieveable storage.
Conclusion
I might just consider doing this. However, to minimize risk, I will choose crypto that has lower price but has a long term potential. In terms of regulator, I will choose local regulator here in Malaysia.