facebookIs Crypto.com the next one to go? I am worried. - Seedly

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Alvin Lee

12 Dec 2022

βˆ™

Cryptocurrency

Is Crypto.com the next one to go? I am worried.

Discussion (11)

What are your thoughts?

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Crypto SG

04 Apr 2023

Chief Investment Officer at Self Employed

Use the exchange to buy only the assets you plan to accumulate.

Crypto.com is quite good for fiat on-ramp for SG investors. I take advantage of the Price-Target feature to buy only at preferred prices.

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Once your order is filled, have your assets transferred out as soon as you can, preferably into a self-custody wallet whose seed phrases that only you control. I recommend a hardware wallet.

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There is NO advantage to leave assets on an exchange other than trying to execute a large sell order and withdraw once your order is filled.

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If you know what you are doing, there is nothing to worry.

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Alternatively, convert your fiat to stablecoins like USDT and USDC and move them to a US-regulated exchange like CoinBase and Kraken. Once your stablecoins are deposited in those US exchanges, sell them for USD at 1.0 limit GTC order to prevent further fluctuations. Using CoinBase/Kraken advanced orders, place your trades in USD pairs. Again, move your assets off these exchanges once your order is filled.

As someone affected by Celsius, I would say take it out.

Crypto.com is a well-established cryptocurrency platform that offers a variety of services such as buying and selling cryptocurrencies, earning interest on your holdings, and using a debit card linked to your Crypto.com account.

Like any cryptocurrency platform, Crypto.com faces various risks, including market volatility, regulatory changes, and cybersecurity threats. However, the company has a strong reputation in the industry and has taken measures to mitigate these risks.

It's important to remember that cryptocurrency is a highly speculative investment and the value of your investments can fluctuate rapidly. It's important to thoroughly research any investment opportunity and understand the risks involved before investing.

I highly recommend seeking professional advice from a financial advisor before making any investment decisions.

FundsandNotes

16 Dec 2022

Freelance Motion Designer at Home

Think along the lines of
"If i withdraw and nothing happens to it, all is good and I can just depo back, but if I never withdraw and shit happens to it, I lose everything. So whats the harm in withdrawing"

How about cold wallet or ledger? I'm currently considering this....

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