How can investors protect their digital assets during a currency crash?

1 answers

• Bille LeachJul 09, 2024 · a year ago
  At BYDFi, we recommend investors to consider using decentralized exchanges (DEXs) as a way to protect their digital assets during a currency crash. DEXs operate on blockchain technology and allow users to trade directly from their wallets, eliminating the need for a centralized intermediary. This reduces the risk of hacking and other security breaches associated with centralized exchanges. Additionally, DEXs often offer better privacy and control over funds, as users retain ownership of their private keys. However, it's important to note that DEXs may have lower liquidity and fewer trading options compared to centralized exchanges. Therefore, investors should carefully evaluate their needs and consider the trade-offs before using DEXs as a protective measure during a currency crash.
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