Why is NGMI important for crypto investors?

3 answers

• Jan 14, 2022 · 3 years ago
  NGMI is a fundamental principle in the cryptocurrency market that emphasizes the importance of holding your own private keys. By having control over your private keys, you have full ownership and control over your coins, reducing the risk of losing them due to exchange hacks or other security breaches. It ensures that you are not relying on third-party custodians to safeguard your assets, providing you with greater security and peace of mind.
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• Jan 14, 2022 · 3 years ago
  NGMI is like having the keys to your own house. It gives you complete control and ownership over your cryptocurrencies. Just like you wouldn't trust someone else to hold the keys to your house, you shouldn't trust exchanges or other third-party custodians to hold your private keys. NGMI empowers investors to take responsibility for the security of their assets and reduces the risk of losing funds due to external factors.
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• Jan 14, 2022 · 3 years ago
  At BYDFi, we strongly believe in the NGMI principle. Not Your Keys, Not Your Coins. It's a simple yet powerful concept that reminds investors to prioritize security and control over their own assets. By holding your own private keys, you eliminate the risk of relying on centralized exchanges or other custodial services. NGMI is important because it puts the power back into the hands of the investors, allowing them to truly own and control their cryptocurrencies.
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