Recent events associate degreed occurrences within the Crypto house have crystal rectifier to an outcry on the importance of self-custody, following the aftermath of FTX’s and Alameda meltdown. the favored phrase “Not your keys, not your coins” or “Not your keys, not your crypto” are creating rounds on the net, reigniting debates on the importance of self-custody. This ruinous event has left a nasty style within the mouth of investors, and can’t be goddamn for reacting this manner. However, suggesting a whole ridding of CEXs are going to be a case of “throwing the baby out with the bathwater” as a result of in terms of growth in crypto adoption, centralized exchanges have contributed quite DEXs.
The focus of this piece is to explain how KoinBasket is different, highlighting the prudent and meticulous approach employed to ensure that the risk associated with crypto investment is reduced to the lowest minimum.
How is KoinBasket Different?
Founder and CEO of KoinBasket, Khaleelulla Baig, in a statement, strongly expressed his dissatisfaction with bad players in the industry, distancing KoinBasket from dishonest practices and also asserting his position on the importance of self-custody;
“Are you giving for free the custody of your funds and assets to crypto mercantilism corporations, bots & managed portfolio providers? Beware! They lure you in with the promise of straightforward cash, then again take your cash and leave you high and dry.”
Investor welfare and long run growth is preponderant for North American country since our conception, thus we’ve consciously determined to not chase unhealthy growth of users and revenue that otherwise comes from taking custody of user funds/ assets and fatal mercantilism activities like leverage mercantilism, short sale, which period and once more have proved to be the only most typical issue for the collapse of therefore known as nice comes like Anders Celsius, terra luna ,FTX, BlocFi etc.
He further explains KoinBasket’s different approach;
“At KoinBasket, we tend to 1st enable users to observe crypto mercantilism through our demo mercantilism platform (no pre-conditions) and once they gain enough expertise and confidence, the users have the choice of investment in live markets whereas users keep complete management of funds and assets with them” He more remarked.
We solely integrate with regulated exchanges and don’t ask for access to user’s secret API keys, assets and funds.The platform goes a step more in providing a secure mercantilism surroundings by serving to users keep one’s distance from risky mercantilism merchandise and activities like leverage mercantilism and short sale, conjointly we tend to don’t stimulate users with the promise of high-yields during a short amount of your time. Rather, the platform is made on serving to the crypto capitalist solve the “age-long” investment quandary through meticulous elementary analysis and prudent fund allocation unfold across multiple crypto sectors and comes.
Our focus is on providing well-researched crypto baskets for investors. The engine behind KoinBasket collates complicated crypto knowledge in period of time, analyzes it visible of this market trends, past performance and valuation, and at last prepares theme relevant crypto baskets. As such, we tend to don’t deny the apparent risks related to the crypto trade, rather, our primary objective is to extend the chance of success and mitigate the risks concerned.