If you move, like most people, in this area, you control the price of BTC even at bedtime. Deep inside, everyone knows that there is much more to worry about than a price drop.
Become a hacker target
Well, you certainly don’t have all your wealth on the exchange. But sometimes we are all lazy. We do not always keep our coins carefully. Although there is a chance that you will get your coins back, there is no guarantee. Do you remember Cryptopia?
Even those who store their BTCs and alts appropriately can be victims of sim swapping, malware, phishing, keyloggers, or ransomware. These are the nightmares that last year deprived people and companies of nearly $ 4.5 billion. And a lot of sleepless nights.
Being “wiped out”
Experienced traders know how to set stop losses and limits so that they are not “wiped out” when they are not at the keyboard. But no experience will help you when glitch appears on the stock market. Like it happened on BitMEX or Binance. And no one gets compensation if you can’t close an order.
Funds are safu? so you are going to compensate me and everyone else for losing money here??????— eliz88 (@eliz883) February 13, 2020
Whether you have it on a titanium plate or simply write it down on paper (s), you may be afraid of losing your recovery – and probably your HW wallet. If you are not doing well with car keys, storing personal keys can be quite stressful and intimidating.
I just lost all the #Bitcoin I have ever owned. My wallet got corrupted somehow and my password is no longer valid. So now not only is my Bitcoin intrinsically worthless; it has no market value either. I knew owning Bitcoin was a bad idea, I just never realized it was this bad! pic.twitter.com/6SJvDJOZU6— Peter Schiff (@PeterSchiff) January 19, 2020
You may never have held a gold brick in your hand, but if you have any amount on your HW wallet, you’re starting to approach it.
Spoil the crypto tax refund
Let’s be honest, filling forms a fiat tax refund has never been fun. And for cryptocurrencies it’s one of the worst nightmares.
When the rules are constantly changing and vary by jurisdiction, the last thing you want to experience is a fine for incorrect submission.
Bitcoin drops to zero
All logic flies through the ghost hour window, where the worst fears haunt you. Quantitative easing, unsustainable financial system, Austrian economy, Andreas Antonopoulos and your unwavering faith on the one hand. And then you wake up sweat.
Can it actually disappear? Per one day? Can the BTC really fall to zero?
Then the first rays of the sun appear, your faith is restored thanks to a tweet from Eric Voorhees, one of the Winklevos twins, Maw Keiser or Jimmy Song…
Back in 2011, when #Bitcoin was $1, @KeiserReport told our global audience: ‘Bitcoin is the currency of resistance, the new, better Gold. It’s going to $100,000. It’s the best way to fight fiat-money, corrupt bankers. Everyone should buy Bitcoin’.pic.twitter.com/AfDdJgHdE7— BITCOIN IS PEACE ?? (@realmaxkeiser) February 15, 2020