Survey: 25% of crypto users not securing assets as well as they think

[mamamu111]

Cryptocurrency hardware wallet manufacturer Ngrave released the initial results of its ongoing crypto security survey on Jan. 13. 2021. READ THE COMPLETE ARTICLE HERE: https://worldpublicityblog.com/index.php/2021/01/16/survey-25-of-crypto-users-not-securing-assets-as-well-as-they-think/

[ryzaadit]

Because not every cryptocurrency user is geek crypto.

Most of the cryptocurrency users 80% more prefer to store their crypto on some exchange and mobile wallets and some mobile wallets doesn't have any kind of feature feedback. They don't understand while holding some fund on the exchange can be potentially lose because the hack attempt because the hacker will be always attacking exchange not your personal wallet.

The price for hardware wallet was also one of the reason too.

[Russlenat]

I think that 25% users are new and those who are not really holding a lot of coins in their wallet.
If they are just holding like $1000 or less, they can afford to lose that and therefore it's okay to sit that amount of money in online wallet for the meantime.

We have a local exchange regulated by the central bank, I'm comfortable with storing some coins under my account as I know it's safe and I can go after the site since they are regulated.

[coinswebid]

a lot of people just trade to get profit, and withdraw their profit to buy goods or something else not holders mate
thats why sometimes they ignoring to securing their assets

[Flowzer]

Because not every cryptocurrency user is geek crypto.

Most of the cryptocurrency users 80% more prefer to store their crypto on some exchange and mobile wallets and some mobile wallets doesn't have any kind of feature feedback. They don't understand while holding some fund on the exchange can be potentially lose because the hack attempt because the hacker will be always attacking exchange not your personal wallet.

The price for hardware wallet was also one of the reason too.

I Agree, the price mostly become the reason, especially when your assets isnt that much and dont want to save it for long period.
Also, with hardware wallet, theres some potential lose too, like hardware lost or hardware bug? At this time i still prefer multi wallet like trust wallet to safe my assets.

[shinratensei_]

They lack education. The majority of them are newcomers that will always keep their money on the exchange site. I do know that the majority of them will be saying if there are other reasons just like the big transaction fee could make them never try to secure their asset on their own personal wallet.
This has become a problem for the newcomers and that's why they need more education about how they are risking their money by keeping it on the exchange site.

[nykka]

Security is always a really big problem in any sphere related to money. There are many reckless people, who think nothing will happen with their assets, so it`s easy to steal. Many scammers make use of it. It`s a very difficult thing to explain everyone how important make everything possible to save money. Some just think, it`s not their matter, they can`t be scammed. Don`t repeat their mistakes. Since some money were stolen from my wallet, I have became very careful to the security and rwcommend you to do the same without losses

[plr]

Cryptocurrency hardware wallet manufacturer Ngrave released the initial results of its ongoing crypto security survey on Jan. 13. 2021. READ THE COMPLETE ARTICLE HERE: https://worldpublicityblog.com/index.php/2021/01/16/survey-25-of-crypto-users-not-securing-assets-as-well-as-they-think/

That's a big percentage and if those 25% of users are losing their coins continuously and it happens to be Bitcoin, imagine the huge percentage of Bitcoin losing in the supply, anyway we can consider Nakamoto's supply as missing as it has been ten years but no movement at all, and that works to our advantage the lesser supply and more demand command a good price.

[GreatArkansas]

That's a big percentage and if those 25% of users are losing their coins continuously and it happens to be Bitcoin, imagine the huge percentage of Bitcoin losing in the supply, anyway we can consider Nakamoto's supply as missing as it has been ten years but no movement at all, and that works to our advantage the lesser supply and more demand command a good price.

I don't think their cryptocurrency or Bitcoin will lose totally or will not be use forever. Since if you deposit or hold your cryptocurrency on centralized exchanges, it will automatically owned by the exchange, they own the keys. So the major problem if ever the exchange will be compromise, it may be hackers incidence or owners will decide to run your cryptocurrency, then for sure they can still use it.
I think you misunderstood what OP is saying.

[arifteguhr]

Cryptocurrency hardware wallet manufacturer Ngrave released the initial results of its ongoing crypto security survey on Jan. 13. 2021. READ THE COMPLETE ARTICLE HERE: https://worldpublicityblog.com/index.php/2021/01/16/survey-25-of-crypto-users-not-securing-assets-as-well-as-they-think/

That's a big percentage and if those 25% of users are losing their coins continuously and it happens to be Bitcoin, imagine the huge percentage of Bitcoin losing in the supply, anyway we can consider Nakamoto's supply as missing as it has been ten years but no movement at all, and that works to our advantage the lesser supply and more demand command a good price.

Please read again from the core of the post at Op. there Wallet Ngrave made a survey about the average user who keeps their digital assets and most of them are still on the exchange. not what percentage you mean. not a percentage of the price


If I look at the percentage of that size and also it was made in early January when when it is experiencing an increase, there is a possibility that investors are ready to sell their assets. currently altcoins have increased and this is the logical reason for me regarding the survey

[poodle63]

Most of crypto users I know store their crypto in exchange or centralized wallet service. Those people just don't care about the safety of their money since they thought that saved up in centralized service is enough and let the rest taken care of by that service provider.
I've used hardware wallet for quite the time but realizing that if your money moves a lot and you just got not that big amount of money, it's kinda making things complicated.

[Shallow]

Many people started with the crypto space without knowing what they are meant to know before investing, some invested or started trading on exchanges because of what they heard. The survey really exposed a lot of things about many crypto investors thus showing that, more people still needs to be educated about the right thing to do; starting with educating them about the risks of keeping funds on exchanges. They also need to understand that, the only way to assume or take overall control of your assets is through storing them on private wallets, while keeping the private keys or as the case maybe in a very secure place. Another thing they need to understand is that, storing or safeguarding of the private keys is also as Important as ever, because once compromised or lost, the assets can be stolen or the assets can be forgotten because no private key means no access.

[mariah.sadio]

This is another IQ test "how to hodl". If you fail it you will loose your money. Rules are pretty simple and sometimes even entry level of IT knowledge is enough

[1l1l11ll1l]

Because not every cryptocurrency user is geek crypto.

Most of the cryptocurrency users 80% more prefer to store their crypto on some exchange and mobile wallets and some mobile wallets doesn't have any kind of feature feedback. They don't understand while holding some fund on the exchange can be potentially lose because the hack attempt because the hacker will be always attacking exchange not your personal wallet.

The price for hardware wallet was also one of the reason too.

Moreover, nearly 20% of the new money that comes in doesn't even know how crypto works. I guess they just do the default security of their wallet provider without any other advanced setups

[KaratX]

Cryptocurrency hardware wallet manufacturer Ngrave released the initial results of its ongoing crypto security survey on Jan. 13. 2021. READ THE COMPLETE ARTICLE HERE: https://worldpublicityblog.com/index.php/2021/01/16/survey-25-of-crypto-users-not-securing-assets-as-well-as-they-think/

Not every crypto investors are tech savvy, It took me a year to finally understand how important private keys and recovery seeds are cos I started with free wallet which only requires your email address and password to login, I though that's how every crypto wallet works until I met coinomi wallet

[leea-1334]

I don't think their cryptocurrency or Bitcoin will lose totally or will not be use forever. Since if you deposit or hold your cryptocurrency on centralized exchanges, it will automatically owned by the exchange, they own the keys. So the major problem if ever the exchange will be compromise, it may be hackers incidence or owners will decide to run your cryptocurrency, then for sure they can still use it.
I think you misunderstood what OP is saying.

This is assuming we are talking about big and recognized exchanges though. Some exchanges I know that some people use do not even have private keys or real wallets. You literally deposit cash to buy Bitcoin or crypto, and you get the balance in your account but you cannot withdraw it only you can sell it:) Fake crypto with no wallets:)

[jacafbiz]

When you see hard wallet provider come up with research like this, it is because they want to generate market for themselves, we have hard wallet and other wallets also though hard wallet still the best for not but comes with its own cons, just look at the recent Ledger fiasco. I will do my better to protect my Crypto

[wxa7115]

Because not every cryptocurrency user is geek crypto.

Most of the cryptocurrency users 80% more prefer to store their crypto on some exchange and mobile wallets and some mobile wallets doesn't have any kind of feature feedback. They don't understand while holding some fund on the exchange can be potentially lose because the hack attempt because the hacker will be always attacking exchange not your personal wallet.

The price for hardware wallet was also one of the reason too.

Without a doubt that is one of the problems, while there is no discussion that there is a lot of very intelligent people in this market and that they can perfectly secure their coins better than any exchange or banking institution, at the same time we need to be honest, we cannot expect every single person to secure their coins so perfectly, they are going to make mistakes and unfortunately in this market all what a hacker need is a single mistake for them to take your coins.

And unlike traditional currencies you cannot get your money back, once your coins are outside of your wallet they are gone most likely forever, as security agencies are still not taking seriously the theft of cryptocurrencies.

[ene1980]

They conducted the survey from 1400 users and there will be bounty hunters as well or casual users but any seriously investor will be taking care of their investment and most probably secure their assets. Majority of the claim is that they are holding the coins in exchanges which is the stupidest thing i have heard because every year you hear about exchange hacks and still everyone is willing to hold the coins in third part wallets .

[20kevin20]

Those people just don't care about the safety of their money since they thought that saved up in centralized service is enough and let the rest taken care of by that service provider.

Or... Maybe it's just that they have no idea about the existence of both decentralized and centralized exchanges or wallets. The lack of education is a big con of crypto adoption - how do we expect mass adoption when the average person doesn't even have any idea what fiat or decentralized is?

If things were easy enough for someone even with a lower education level to understand, then maybe crypto users would opt for a better security. But when you find it too difficult, you probably just opt for trusted, custodial wallets..