Firstly, it is necessary to clarify and emphasize that I am not an expert, I write advising from my experience as a user who also has a virtual economy, especially in the world of cryptocurrencies and currently, in one way or another, certain companies that have managed to position themselves or become recognized In one way or another they have been shaken by certain legal problems that can compromise the integrity of our assets if we use them as a method to protect our money, but really their main function is not to protect assets but on the contrary, they are companies that help us change those assets. towards our local currency.
It is not a secret that I am referring specifically to Binance, although I know that your problem has been going on for more than a week, I did not want to stop touching on the topic, well, many users who are still new to this world may keep their money in sites. of asset exchange, which is evidently a risk since they are sites that in one way or another can be attacked virtually or, as is the case of the Binance company, basically accused of money laundering for which they were fined, a fine that evidently It made people a little nervous since when the news hit the media, many users who had their money in this type of company for a certain time could not move it to secure wallets.
Obviously it brings moments of anguish for many since many receive money from their work or simply in digital assets their life savings are locked up, which is clearly worrying, since a large percentage of the population that uses this type of financial life They are uninformed, they do not even know the difference between Exchange and wallets, leaving their assets at risk and the company could go bankrupt for no one. It is a secret. Well-known companies in the crypto world have gone bankrupt this year, leaving their users in limbo, we must think. In this, we must constantly look for more of what interests us in order to protect our interests.
It is worth highlighting that wallets are made or created with the purpose of caring for, storing and controlling the activity of our assets. Let us remember that many people tend to keep them, like a bundle up their sleeve for the future. Not everyone acquires cryptocurrencies and they usually do. sell at once, on the contrary they always have strategies to maintain their assets, however, the Exchanges are a cryptocurrency exchange, that is, where you can exchange it either to other cryptocurrencies or to your local currency, one difference that the exchanges have to the wallets is that The first seek to control your money while in the second it is you who has total control over your assets.
Wallets are called cold wallets, for the same reason that I explained above, since they are those that do not seek to control our money, also where they will be safer, while exchange sites are called hot sites, due to the various reasons mentioned above, such as that they will always be in the sights of the authorities since they are sites that can reach any part of the world. In addition, they are basically transactions that are not monopolized or controlled by a central government, which makes them easily accessible to all members of the public, including, unfortunately, bad people, which is basically what, according to various articles, caused Binance to have problems, since its services were used by terrorists or people outside the law to hide their money from the money laundering they possess.
The best advice as a frequent user is to be aware of the news and to inform yourself about how to use and protect your assets. The most important thing is to protect, to protect your assets as well as to seek to multiply or grow them. Basically, we must commit to the cause. of our growth and evolution, which implies that we commit ourselves in the full sense of the word and in all areas such as financial, it is very important for our personal well-being in all its parts.
Thank you for reading!
