HomeLoansCrypto platforms say they're exchanges, but they're more like banks

Crypto platforms say they’re exchanges, but they’re more like banks

There is a well-known saying shared by both crypto experts and skeptics: “Not your keys, not your coins.” The phrase, popularized by Bitcoin entrepreneur Andreas Antonopoulos, refers to how the contents of a crypto wallet are the property of whoever has access to that wallet’s digital “keys.”

This means that unless you personally have the keys to your crypto assets and store them offline, you are vulnerable to hacks, scams and bankruptcies. The endless stream of crypto scams has been well documented. So have the security breaches — and not to mention the eye-popping carbon emissions.

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The digital economy’s environmental footprint is threatening the planet

Of course, offline storage requires an extra level of understanding, technological sophistication and inconvenience. Enter crypto exchanges like Coinbase and Crypto.com,…

Read more at theconversation.com

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