Trezor has seen “significantly” higher interest in self-storage in the midst of ongoing crypto tours
Large hardware wallet manufacturer Treasure said they have noticed higher interest in their devices after a series of breakdowns by crypto companies and centralized exchanges that suspend withdrawals.
According to a spokesman for the company, bitcoin (BTC) and crypto holders are “nervous about keeping their coins with depositors and exploring options for self-deposit.”
“As a result, we have seen a significant increase in interest in Trezor devices,” the company said Cryptonews.comwithout giving specific figures, explaining that they “do not share this internal data”.
That said, there is still work to be done in teaching people what it means to keep their coin on a cryptocurrency exchange, instead of being the only person who can access and control them.
Per Trezor,
“Although the increase in interest is noticeable, most people are still indifferent to the risk they face when holding their coins on a stock exchange. Our long-term goal is therefore to teach people the necessity of self-preservation: if you do not control your own keys, you do not really own your coins. “
Meanwhile, Trezors rival and major hardware wallet maker Ledger did not respond Cryptonews.comhis request for comment.
Trezor’s observations come not only during a particularly tough crypto bear market, but also during the massive turmoil in which a number of centralized crypto companies have found themselves, and are struggling not to sink and drown.
In the fallout, we saw that companies stopped withdrawals and transfers, drew criticism from users and the wider community – but also pulled down related companies due to a subsequent infection. Perhaps most prominent, the troubled crypto fund Three Arrows Capitalcrypto platform Voyager Digitaland lastly the crypto lender Celsius have all filed for bankruptcy. According to court documents, several Celsius-related entities, including Celsius Mining, have also filed for bankruptcy.
Numerous individuals have said they plan to stop using centralized exchanges altogether and start keeping all cryptocurrencies on hardware wallets, saying that these recent events (and in many cases the funds they lost when the companies that kept them failed) have destroyed their trust. in centralized units.
Nick Saponaro, Founder and CEO of the Crypto Payment Platform Divi Labscommented that with Celsius’ bankruptcy petition, “there is now a big question mark over whether customers will be able to recoup their investments,” adding:
“Self-care is no longer a choice, but an imperative.”
Saponaro argued in a comment sent to Cryptonews.com that the point of crypto is to give each individual what they are entitled to: financial sovereignty. Still, people will give up that sovereignty and control over their own fund as long as they use centralized services, he said, adding:
“There has never been a more important time to ensure that people understand the risks of using centralized exchanges and considering other options that will ensure that they continue to have access to their coins and do not lose their entire portfolio should a stock exchange go bankrupt.”
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Learn more:
– CEL jumps while Celsius’ filing for bankruptcy protection reveals a gap of billions of dollars in the balance sheet
– Today in crypto tour: Sun prepares 5 billion dollars, purchase of Celsius ‘exposed’, CoinFlex goes to HK courts
– Trezor loses a controversial KYC function, plans functions to “cut regulatory override”
– Here’s how you can protect yourself from phishing when Trezor is attacked
– 5 risks to know before using centralized crypto-lending platforms
– DeFi suffers from too much centralization, what can be done?
