The biggest issue is that it is no longer in their hands. They filed for bankruptcy protection. The courts and others now have a lot of control over what happens. Coinify can be a separate owned entity that is 100% solvent and profitable. But if the judge or whoever decides to close it or sell it or change the way it operates pending a deep audit or whatever else then that is what happens. It can also be a self fulfilling prophecy. Even if Coinify is fine, now that people begin to stop using it because of this it will start to shrink and loose clients and money and then......
I wasn't looking at the situation from that perspective
[thank you for the detailed explanation]... None of these scenarios look good.
- Someone posted a "small update" for Voyager users a couple of days ago, but I'm not sure if I should classify it as good or bad news [I'm disregarding the title].Why betray the very idea of Bitcoin, which is to be your own bank? Is there a point to even investing in Bitcoin if all you do is the same as you did with your fiat?
Unfortunately, most of the new investors don't have the slightest clue about such things... They tend to associate
BTCitcoin with the phrase "to the moon"
[SMH]!
I wonder what really is happening on Crypto space.
Mismanaged platforms are looking for a new path at the expense of their users
[unfortunately].
If this is true, it is likely that Coinify is unaffected by the bankruptcy filing.
After reading @
DaveF's comment, I'm going to retract the latter part of my previous comment.