Now to the cryptocurrency crash that has traditional markets on edge. one of the largest, a multi-billion dollar fraud. As an experienced investor, I've seen this kind of situation happen before and it's all linked to the year 2008. for the first time in decades, Banks were failing in the USA.

It started with AIG but the chaos spread throughout the entire economy, causing big names such as Lehman Brothers to close their doors. Keep it like a domino effect. It only takes one of them to fall to affect everything else. Massive protests began on Wall Street and some believe that Bitcoin was created as a response to this event, believing Satoshi Nakamoto to be a savior on Bitcoin to finally level the playing field of the financial system.

Some considered Bitcoin to be a dream come true, a free world where people could pursue their own opportunities without the restrictions of governments or the corruption of the banks. But now this idea is being challenged, especially with the fall of Ft The once Golden Child of Crypto Sam Bankman freed has been taken away in handcuffs and has now been revealed as a criminal mastermind. The past year has been one disaster after another, but this time the falling dominoes are contained to the world of crypto. So let's look at the issues with exchanges: if cryptocurrency is actually worth investing in anymore.

and finally, how to invest safely in times like these. Believe it or not, even traditional institutions such as Banks haven't always been considered safe. In the 1930s, Bank runs were extremely common in the United States This is when too many people tried to withdraw their money all at once. Banks are supposed to keep a certain amount of Reserve money on hand, but the problem is everyone trying to take their money out at the same time causes a panic.

This happened a lot. I've seen this firsthand. I Remember seeing a site that would stick with me forever on the day before my birthday the 14th of September 2007 to be exact. about Bank in a UK called Northern Rock had queues of people reaching all the way down the street and around the block.

I Remember the solemn faces of all the people demanded to withdraw their money. Just three days later, over two billion pounds have been withdrawn and UK government had to step into guarantee Savers funds. But crypto exchanges aren't regulated in the same way as Banks and therefore this safety blanket just doesn't exist. After all, they don't run on US Dollars and there's no Central Bank to provide that security now.

Thanks for sticking with me so far, because here's where it all starts coming together. The FTX collapsed in the 2008 financial disaster have one big thing in common. They were both caused by greedy corporations taking too much risk by over leveraging themselves. Normally, this problem would be covered up as if the markets continue to.

Rally The former CEO of FTX Sam Bankman Freed would still be able to spend customer money on his questionable lifestyle and multi-million dollar mansion in The Bahamas The decline in Mark is what has uncovered The Ugly Truth in ways that are devastating and hurts the entire crypto economy all the way down to individual. Traders Like you and I you only have to spend some time on the internet and you'll see horror stories of people who have lost their entire life savings from exchanges like these going down. Now let's get into what you really care about is the Crypto Market Dead Well I Think quite the opposite Now, even though it's pretty much impossible to correctly time the bottom of any. Market a key indicator I look for is a huge collapse I've been around long enough to see it happen time and time again.

you can't usually see it come in. Although it's sad there is always a silver line into a big washout event like this. I See it as a real turning point in the crypto world and maturing of the market. If you like the Fallout from an event like this has often signaled the beginning of the rebuild process in the past, think of it like after a tsunami.

Everyone comes together to build what was lost and often it's the point You see the best in people offering help to those that need it the most. Not only do they build back, but they do it bigger and better than before, making the building stronger, the streets wider, and the storm drains More suitable to deal with a similar disaster in the future, The FTX collapse puts immense pressure on the SEC to put some kind of regulation in place so that something like this can never happen again. This is the point at which Crypto has the opportunity to build back bigger and better than before. Of course.

I'm talking about putting safeguards in place to protect users. Institutional investors have fled the crypto space due to a lack of transparency and will probably only return once they feel as safe as they do with stocks and bonds. Ask yourself if in a couple of years time Crypto regulation gets implemented. Would you rather invest in it now? or after all the big institutional players start getting involved again.

Driving up the price, people have lost interest in Crypto as it's no longer the get rich quick scheme it was once seen to be. You can see this by the lackluster views all the crypto channels are getting. nowadays. To me, this signals are great buying opportunity.

As a diversified investor, I'm willing to deal with some volatility in the short term as even the Blue Chip coins like Bitcoin and Ethereum have been beaten into the ground. Saying this. I would still feel uncomfortable putting more than five percent of my portfolio into crypto assets, but everyone's risk tolerance is different. I Actually remember getting hate comments when I said crypto was one of the riskiest assets you can invest in.

How times have changed, that's why I'm still investing in my stock market portfolio as well. By the way, if you want to get a free stock worth all the way up to a thousand dollars, then I'll drop a link to Public.com down below where you can pick that up. If you do choose to get involved in the crypto world, then it's more important than ever to avoid this mistake. One of the first major crypto failures happened in 2014 I Feel like a history teacher today Bitcoin Hype calls many projects to rush into this exciting.

New Market Instead of trying to build a secure system, Bitcoin had soared from 20 to 1 200 at its peak, and because of this, it had a big red Target on its back and Mount Gox was the biggest exchange of them all, handling 80 of all transactions globally. The exchange was hacked, losing 460 million dollars in Bitcoin an amount worth over 15 billion dollars. At the point of recording this video, there were plenty of smaller examples around the same time, like the Canadian exchange quadriga, which disappeared with investors money. The story was so crazy that Netflix even made a documentary about it.

There's a big debate right now on whether or not crypto should be regulated to protect investors. True crypto, Ogs aren't having it, but if you ask me, regulation is inevitable, a part of any healthy maturing industry. But until that day comes, investors need to learn that it's up to their them to be responsible and protect their crypto and not leave it on an exchange. Luckily, we have a few options allowing us to keep our crypto locked away from anyone trying to steal it from us or use it irresponsibly.

So, where's the best place to store your crypto? Well, there's a few options. One popular method is a cold storage wallet. a piece of paper with your private key written on it. It's as simple as it sounds.

You can think of it like a vault tucked far away from the connectivity of the internet. If someone managed to hack your computer, they still wouldn't get a hold of that little piece of paper. Well, unless you save it in your notes. Nah, no one do that would they? The problem with cold storage wallets like the paper method is that they aren't practical for everyday use.

Every time you want to use your wallet, you'd have to go through your filing cabinet, find the piece of paper, write in the secret words, and restore it A whole lot of palava, especially for a boomer like me. Another option is with a hot wallet like metamask each crypto wallets connected to the internet to send and receive money. They're really convenient and easy to use, but have a huge drawback because they're connected to the internet, making them susceptible. Not to mention someone stealing your laptop just like Goldilocks And the Three Bears the best option might be one that's neither too hot nor too cold.

The perfect solution I found is this: The Ledger Nano X I've been using it for years and I absolutely love it. It looks and plugs in just like a flash drive, unlike exchanges. When you own a ledger, you own your own Keys they're stored right here on the device. When you open it up, you'll see this piece of paper called the recovery sheet.

When you boot up the device, it's going to ask you to write down 20 words. now. While The Ledger wallet is very safe, it's still important to make sure no one gets hold of this piece of paper. If someone stole your Ledger USB stick, they'd need to use your PIN to get your crypto.

But if they get hold of this piece of paper, it's game over. If you're worried one day some house cleaner might find your backup paper key, consider tearing it apart and keeping each piece in a different location. kind of like a treasure map where they'd have to fight all your pieces to get your crypto. With so many sketchy lending platforms and exchanges shutting down and stealing people's crypto, it's more important than ever to own your own.

Keys Now I Know you might be thinking this all sounds great, but I like the convenience of storing my crypto on the exchange? Well, that's the beauty of it. You don't have to compromise on convenience as with Ledger Hardware You can trade and transact on the device with Ledger life. I've put a link in the description where you can pick up The Ledger Nano X I've used it for over a year and have recommended it many times before, but now it's more important than ever. Always remember, if it's not your keys, it's not your crypto.

If you're worried about the current financial situation and a possible depression on the horizon, then you should watch this video next. but don't click on it just yet. Make sure to subscribe if you want to grow your wealth. and don't forget, pick up the free stocks in the links below.

Okay, then I'll see you over there.