Cryptocurrencies these days are very dangerous:
After the big problems that occurred between the FTX platform and the Binance platform, the FTT currency of the FTX platform began to fall very dramatically, and this led to a very large drop in the prices of cryptocurrencies and a very great fear among investors, so what is the caused of the problem?😕
Sam Bankman-Fried, founder of the FTX platform, tried to put crypto under the control of governments, and this thing contradicts the decentralization that the blockchain enjoys, and this is what made people very angry, this sparked problems between him and Changpeng Zhao, founder of Binance.
The Binance and CZ platform decided to sell the FTX currency, and this made fear dominate the market because of this currency, and everyone started selling the FTT currency of the FTX platform until its price dropped terribly from 19.33$ to 1.5$ within a time publish😩
Within 72 hours, more than 6 billion dollars were withdrawn from the platform, which made the FTX platform officially declare bankruptcy, and therefore many of those who put their money into this platform lost it permanently.
Suggestion to protect your money:
If you want to invest in cryptocurrencies, you can buy a cold wallet and store your cryptocurrencies in it, it is the safest way instead of keeping them on the platforms for long periods, these wallets protect your money from hackers and also protect it from cases similar to the case of FTX, and the prices of these wallets are very low And everyone can buy it easily!
Do you think that digital currencies will rise in price again?