Famous billionaire Mark Cuban warned investors who want to store Bitcoin (BTC) and cryptocurrencies in hot wallets.
Mark Cuban December 28 In a statement to Cointelegraph on , storing cryptocurrencies in hot wallets is completely dangerous the idea that did not attend stated. But billionaire customers on loan giving or don’t give to the right owner your platforms high risk that you have reminded investors.
Hot wallets have high mobility It is known that it is frequently preferred by speculators because of However, at first FTX bankruptcy Many of the cryptocurrencies, including from scandal then investors’ confidence in hot wallets large extent lost. The famous billionaire said that hot wallets are not as dangerous as exaggerated, only investors can clear criteria He stressed the importance of calling. Cuban made the following statements about the criteria that investors should look for in the search for a hot wallet:
The fact that the storage platform has the right to lend customer assets is one of the factors that increase the risk significantly. Also, if you do not intend to store your assets in a cold wallet, it is helpful to ensure that your custodian has the necessary internal audit and liquidity facilities.
Cuban also participated in a podcast on December 25. under about the statements he put forward repeated and nothing under owner not expressed. The famous billionaire is a gold hedge against inflation cannot be an intermediary arguing that gold investors “with arrogance” had accused.