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Bruce B. Dec 2, 2022
Financial Services News
Last active over 7 days
Last active over 7 days
Confidence is quickly eroding in the crypto sector. But, Didi Taihuttu, his wife, three daughters, and Teddy, a Pomeranian puppy, are as confident as ever in their bet on Bitcoin — they're just changing how they store it.

The Bitcoin Family have safeguarded their crypto riches in three main places: centralized exchanges (CEXs) like Bybit and Kraken, decentralized exchanges (DEXs) like Uniswap, and hardware wallets hidden in secret vaults on four different continents.

But as digital asset brokers, lenders and exchanges continue to fall into bankruptcy — locking up customer funds in the process — the Dutch family of five is proactively moving $1 million in crypto into decentralized exchanges, which allow users to hang on to custody of their tokens.

"For me, bitcoin is still about freedom, and decentralized currency should be able to be used by everyone in the world without needing to do KYC or any other regulatory stuff," Didi said.

DEXs don't require users to connect an ID or bank account to the platform, hence making it an ideal custody solution for the Taihuttus.

While the family did not have any tokens tied up with FTX, Celsius, Voyager Digital, or any of the other platforms to recently go under, in crypto, one of the mantras is "not your keys, not your coins," meaning that rightful possession of tokens comes through the custody of the corresponding private keys.

The Dutch father of three had learned his lesson in 2017, when he lost four bitcoin to a hack of a centralized exchange known as Cryptopia. "From that moment, I was always searching for alternatives," he explained.

“For me, bitcoin is still doing perfect and still doing what it always does: Being a decentralized currency that is usable by all people all over the world."

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  1 comment
Angel L. Dec 2, 2022 -10:33AM Thanks for these short and insightful clips Bruce.

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