FTX, Celsius, Three Arrows, Gemini, Voyager, BlockFi… who’s next, hopefully not your hardware wallet?
Crypto.com has been pretty good to me for the past year however, they have
- Lowered the staking rates they pay back for the average account holder
- Their CRO has not done any better than Bitcoin (my crypto bellwether)
- They are going to remove both free Spotify and Netflix.
- They are limiting how much cash back rewards one can get from their credit card
- They are adding fees to load up their card from a bank
So I moved to a Hardware Wallet
I am digging the Ledger Nano which keeps my crypto in my hands on a wallet. The wallet I use is not the newest on the market, but it gets the job done. One of the best things about it is that you can load different wallets on it for different cryptos to keep them safe. My favorites are BTC and ETH, but I do have a few others.
The newer wallets offer bluetooth sync with an iPhone or Computer, but mine connects to a computer with a cable. There is no way to connect it via bluetooth, but there is a Ledger App in the Appstore that will tell you the value of your crypto once you add your wallet information.
Why store Bitcoin in a decentralized Bitcoin Wallet?
Bitcoin can be stored outside a centralized exchange like Coinbase or Finance. When you have your own hardware bitcoin wallet, you can lock it up in a safe deposit box and forget about it until you need to pass it on to your heirs (or want to buy a new Chinese Spy Balloon).