Sometimes the best return is simply not losing money.
Leofinance has a lot of value, more than people realize. In this article we will share something that took place earlier today which could have saved be some money.
We all know this is a volatile time in cryptocurrency. Actually, this is the case across all markets. There are big swings taking place, both up and down.
For this reason, it is important to remember that we will find out which of the Emperor's is wearing any clothing. When this happens, a lot is exposed. This is especially true in the cryptocurrency industry.
The reality is the situation with UST is not surprising. Naturally, the exact asset that was going to be tested is hard to predict. But, we know, when things are new, markets attack them. This is true no matter what the realm.
A lot is being made of UST breaking its peg. We will see how long this lasts and if it can regain it. However, there are going to be some lessons coming out of this.
Not Your Keys....
As I was going through the recent section earlier today, I came across a post by @mealmcspadden. He does not post frequently but when he does, it is always good stuff.
What he wrote about today was an announcement by Coinbase stating that basically, if they enter bankruptcy, the customers might become general creditors. This means any cryptocurrency (and presumed USD/CAD) on their platform is treaded as theirs. Then it is up to the individuals to try and get it back.
Not your keys, not your crypto.
Why this is important, in the context of this article, is the fact I was not paying attention. My reading of the news was delayed so I missed this admission completely.
Fortunately, I was on Leofinance and saw what was taking place.
This allowed me to move what little crypto I had to my Ledger. It wasn't a huge amount but something that I would have been upset to have locked up. There was also some USD that I decided to send back to my bank.
Fortunately, neither were catastrophic regardless of what happened. Most of my cryptocurrency is either kept in wallets such as Metamask or in my Ledger. There is no way I would keep huge amounts on an exchange.
Leofinance As A Crypto News Source
While many places have feeds from the mainstream crypto media, Leofinance can be viewed as an up to the moment crypto news source.
It is easy to find posts on the recent page detailing current happenings in the market. When something major takes place, there are a number of articles that show up rather quickly. This will only increase over time as more people join the platform.
Here is an aspect to the ecosystem that gets overlooked. While many want to focus upon token price and things of that nature, we overlook the value that is given to all of us on a daily basis. There are hundreds of people posting articles, many of them with very pertinent information.
Often we see articles about investment options. People write about their favorite cryptocurrency while providing insight into what they think is going to happen.
However, as this instance shows, sometimes there are warnings to be presented. The advantage to something such as Leofinance is that people are usually around to post some "breaking news". As stated, this will likely expand as we get more people who are posting regularly.
Information is a valuable commodity. Gordon Gecko made this clear in Wall Street. With Leofinance, we have individuals sharing what they now without any paywalls, monthly subscriptions, or nonsense like that. People are incentivized to post based upon the daily rewards that are passed out.
And every once in a while there are a few nuggets that can either make you a bunch of money or, more importantly, save you from losing some.
If you found this article informative, please give an upvote and rehive.
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