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REPORT COPYRIGHT VIOLATION IN REPLY
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Message Subject
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Breaking: FTX files for Bankruptcy, founder started FTX 13 days after Biden said he was running and became megadonor
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Anonymous Coward |
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Post Content
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This is why we keep our crypto on a private ledger.
Quoting: Lady Jane Smith But how do you get out of a position quickly or want to liquidate your crypto holdings in an emergency? In a worst-case scenario each second counts, but if you hold your crypto on a private ledger you need to first send your crypto to an exchange in order to process your order. Isn't that a huge disadvantage not being able to sell your crypto as fast as possible in certain situations? Are you talking about trying to sell in a crypto crash/pump? Generally I think people that use private ledgers are holding the crypto for long term increases, not trying to catch pumps. That being said, if you are looking to catch crashes/pumps then keep your trading crypto on the exchange with limit orders placed, but only do that for what you're actively trading, then put what you're not trying to trade into the private ledger for safe keeping till the next spike in price. Keep in mind though, the exchanges seem to magically not work when prices are pumping/dumping until the pump/dump is over and you are either back to normal or way down. Though in worst cases, you can have most crypto moved from the private ledger to the exchange within and hour... some like XRP/XLM will appear in a minute or two.
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