If you’re like most people in this space, you check the price of bitcoin before getting out of bed. And, let’s face it, probably a few times in the night as well–especially if your crypto nightmares are keeping you awake. Because, deep down, every HODLer knows there’s a lot more to worry about than daily fluctuations.
1. Getting Hacked
OK, so you obviously don’t keep all your crypto wealth on an exchange. But we all get lazy about storing our crypto assets at times. While you may get some of your funds back in the event of a hack, there’s no ironclad guarantee-Cryptopia, anyone?
— Cryptopia Exchange (@Cryptopia_NZ) January 28, 2019
For those of you storing your BTC and alts in the appropriate wallets, you may still be the victim of sim swapping, malware, phishing, keystroke logging, or ransomware. These are crypto nightmares that cost the industry more than $4.5 billion last year alone- as well as plenty of sleepless nights.
2. Getting REKT
Experienced traders know to set stop and limit orders to avoid getting REKT when they’re away from the keyboard. But all the experience in the world won’t help you when BitMEX experiences a “trading glitch” or Binance suffers “performance issues.”
As this furious trader pointed out to Binance’s CEO last week, no one’s going to compensate you for the funds you lose when you can’t close an order:
Funds are safu? so you are going to compensate me and everyone else for losing money here?🤬🤬🤬🤬🤬
— eliz88 (@eliz883) February 13,