Changpeng Zhao and Michael Saylor advocate for personal storage of cryptocurrencies

Чанпен Чжао" href="https://noworries.media/biography/chanpen-chzhao/" data-bio-id="3681">Changpeng Zhao, CEO of the largest cryptocurrency exchange Binance, and Сейлор" href="https://noworries.media/biography/majkl-dzh-sejlor/" data-bio-id="3672">Michael Saylor, Chairman of the Investment Committee at MicroStrategy, urged users to store cryptocurrency on personal crypto wallets. In their opinion, this is especially important at a time when the digital asset market is once again experiencing turbulence.

Changpeng Zhao said: «Self-storage of assets is a fundamental human right. You can do it at any time, but make sure you store your cryptocurrency properly. I recommend starting with small amounts to familiarize yourself with the technology and tools for storage. Mistakes can be costly.»

Recently, the Binance CEO shared his thoughts on the FTX bankruptcy and the future of the cryptocurrency sector. According to Zhao, the current market situation is reminiscent of the beginning of the 2008 financial crisis. The Binance CEO is virtually certain that the situation will worsen, and FTX will not be the last platform to go bankrupt.

Michael Saylor supported his colleague. The bitcoin adherent emphasized that if users store digital assets on their own wallets, it will avoid the concentration of a large amount of cryptocurrencies and, consequently, a monopoly by a single crypto service.

«Self-storage of cryptocurrencies is important, it creates a system of checks and balances for other cryptocurrency market participants, forcing them to compete and ensure transparency,» Saylor said.

Recently, Michael Saylor has once again assured the cryptocurrency community that he will continue to invest in bitcoin despite the roller coaster ride in the market. The chairman of the Investment Committee emphasized that MicroStrategy shares continue to grow in value and outperform tech giants such as Apple and Amazon. It should be added that according to Blockchain Center experts, if the financial giant had invested in Ethereum instead of the flagship cryptocurrency, MicroStrateg’s profits would have reached $ 1.6 billion in early November.