Why is NGMI important for investors in the cryptocurrency market?

5 answers

• Jan 27, 2022 · 3 years ago
  NGMI is a crucial concept for investors in the cryptocurrency market. It emphasizes the importance of holding your own private keys to your crypto assets. By not relying on third-party custodians like exchanges, investors can have full control over their funds and reduce the risk of hacks or theft. It's like having your money in your own safe rather than in someone else's hands. NGMI ensures that investors are the sole owners of their coins and can access them anytime without any restrictions.
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• Jan 27, 2022 · 3 years ago
  Not Your Keys, Not Your Coins is a mantra that every investor in the cryptocurrency market should live by. It highlights the need for individuals to take responsibility for the security of their digital assets. By holding your own private keys, you eliminate the risk of losing your funds due to exchange hacks or other security breaches. NGMI empowers investors to be in control of their investments and protects them from potential risks associated with centralized exchanges.
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• Jan 27, 2022 · 3 years ago
  NGMI is an important principle for investors in the cryptocurrency market. It reminds us that relying on centralized exchanges to hold our coins can be risky. While some exchanges have robust security measures, there have been instances of hacks and thefts in the past. By holding your own private keys, you eliminate the need to trust third parties with your funds. This is where BYDFi, a decentralized exchange, comes into play. With BYDFi, investors can trade their assets without giving up control of their private keys, ensuring the security and ownership of their coins.
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• Jan 27, 2022 · 3 years ago
  Investors in the cryptocurrency market should pay close attention to NGMI because it is a fundamental principle that protects their assets. By holding your own private keys, you have complete control over your coins and reduce the risk of losing them. It's like having the keys to your own house - you decide who has access to your assets. NGMI empowers investors to be self-reliant and eliminates the need to trust centralized exchanges with their funds. It's a crucial step towards achieving financial sovereignty in the crypto world.
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• Jan 27, 2022 · 3 years ago
  NGMI is a concept that all investors in the cryptocurrency market should understand and prioritize. It emphasizes the importance of self-custody and control over your digital assets. By holding your own private keys, you are not dependent on any third-party custodian, reducing the risk of hacks or loss of funds. NGMI is about taking ownership of your financial future and being in charge of your investments. It's a principle that aligns with the decentralized nature of cryptocurrencies and ensures that investors have the freedom to manage their coins as they see fit.
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