FTX Crash Effect: Hard Wallets Sale On The Rise.
Before last week, people really didn't give hardware wallets that much attention. Even though they were important, there was really no cause for alarm to make people begin to rush to hardware wallets, not until FTX came crashing down. Send the FTX Saga began, there has been an explosion in the sales of hardware wallets like Ledger and Trezor as people began moving all their cryptos to these wallets that have proved to be the safest out there.
Yeah, it's finally happening. More people are beginning to understand the importance of having total control over their assets and it's truly sad and unfortunate that events like the FTX crash pushed people to realise they really aren't in charge once their funds are on exchanges. This week alone over hundred thousand BTC were withdrawn out of exchanges and sales in hardware wallets like Ledger and Trezor sky rocked by 300%, the highest ever seen in a very long time.
I had my first and only share of why not to have you funds on exchanges when Cryptopia went down. It was indeed a shock when I realised all I had was lost because an exchange was supposedly hacked. Theexchange wasn't refunding and I had to live with the effect of my decision to keep money on exchanges. Ever since then, I've never kept a dime on an exchange natter their reputation, and FTX proved that reputation of an exchange still didn't matter when it comes to the safety of your funds.
Hard Wallets will definitely still be required by a large population of crypto investors in the future but right now, no one trusts exchanges and its better to be safe by any means out here and Hardwallets provide that maximum safety.
