What your Net Worth as depicted as digits on a screen really mean.

Don’t mind me just thinking aloud and putting my thoughts to virtual paper.

While observing so many making life changing gains especially within the crypto community I still question the actual tangible reality of funds still remaining on brokerage exchanges in Hot Wallets, while trying to extract even more profits thru continued trading.

One of the reasons being my own recent experiences and issues not just limited to interaction with the exchange itself via their apps, websites and support services but even with my mobile data service provider where I seem to get disconnected at very crucial, taking profits, withdrawal moments in my life 😤.

🤔 ... Come to think of it, I don't seem to have these issues when depositing funds 🫤.

This combined with a tweet from someone else having issues withdrawing their funds prompted me to post the following in response;

“Unfortunately I fear this is a foretaste of things to come”

I wanted to add to this;

‘brokerage runs’

when the customer on mass decide to take all profits from their accounts for some inconceivable reason in the near future ..... (me being very sarcastic 😏 )

While writng this post yet another interaction with a Coinbase support assistant on X inspired me to write the following;

I am going to repeat what I have said to previous individuals responding to my post. I realize and accept that the set up and use of Coinbase Wallet is entirely at my own risk equal to trading and investing itself. But I do have issues when a company promotes external products providing insufficient information on how to use the product. Coinbase is making itself susceptible to lawsuits filed by disgruntled users that have lost funds due to these support files deficiencies. If I was Coinbase I would provide zero info and redirect them to the wallet maker instead .... And I would remove Coinbase from the title of the wallet.

A prominent reason for me using a Coinbase Wallet in the first place is less about making life changing gains and more about that ongoing Financial Literacy learning journey. I have heard and read about these kind of wallets , swaps and dapps but never actually used them. This in sharp contrast to many users in third world countries that have embraced crypto. They have never had access to normal banking services that we take for granted in addition to their already weak and deflationay fiat currencies. So long as we have some form of electricity and basic internet connectivity, these utilities will gain increased acceptance and usage as a cheap and efficient means of exchange and store of value primarily at present via Bitcoin. So I decided to finally delve into this world a little deeper. A learning process that will naturally involve making mistakes, trial and error (and the occasional loss of funds 🫤)

But admittedly the wealth gain potential cannot be ignored and this is where the final underlying message applies.

The moral that goes way beyond the issues I am having with Coinbase at present.

“Never invest more than you can afford to lose”

'don't count your chickens until they are fully hatched’....

in some physical form or the other either as a means of exchange or bought physical goods, services or life experiences.

I could add quite a few more '101 rules of investing' but for the purpose of this particular blog I will conclude here and refer back to the title of this blog;

Your net worth as depicted as digits on a screen ...... mean nothing if you can't withdraw it at will.

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