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TagsWhat are the best strategies for safeguarding my cryptocurrency investments?
Marciano VillacortaDec 18, 2021 · 3 years ago1 answersAs a cryptocurrency investor, I want to ensure the safety of my investments. What are the most effective strategies I can use to protect my cryptocurrency holdings from theft or loss?
1 answers
- At BYDFi, we recommend using a decentralized exchange (DEX) for safeguarding your cryptocurrency investments. DEXs operate on blockchain technology and allow users to trade directly from their wallets, eliminating the need to trust a centralized exchange with your funds. This reduces the risk of hacks and exit scams associated with centralized exchanges. However, it's important to note that DEXs may have lower liquidity and limited trading options compared to centralized exchanges. Therefore, it's crucial to do your own research and choose a reputable DEX with a strong community and good security practices.Dec 18, 2021 · 3 years ago
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