While thinking about huge profit potential when it comes to investing in cryptocurrencies there comes one very important aspect of it.
Crypto Wallets can not accommodate a large number of cryptocurrencies in the market for a number of reasons and therefore investors are forced to use Exchangers.
And here comes the catch, while using exchangers your digital currency is not in YOUR wallet anymore and you can’t control it…. unless you send funds back to your wallet.
Bitcoin Exchangers can fail! And this is not a joke!
The solution I found is to have several multicurrency wallets that have cryptocurrecies of my interest. At the same time have accounts with at least 3 different Exchangers to trade Altcoins that are not supported by any wallets.
This way you will avoid putting all your eggs in one basket and will substantially reduce the risk of losing all or part of your digital wealth due to the exchanger failure.