The Binance Of Latin America Is Closing Down

The Binance Of Latin America Is Closing Down

By Cryptolohy | cryptolohy101 | 5 Mar 2020


Snap!! Cryptofacil is gone!

 

Today I just woke up to the news that the Latin American exchange that I have written an article about is bankrupt and will close on the month of March.

This is quite a setback for me since I did got some cryptos over there, although I didn't do KYC since I didn't buy a lot of coins. 

In Cryptofacil I got some steem there, LBC and Cosmos. Wow, quite a bummer.

Moral of the story??? Centralized exchanges can go away at any moment, a la Mt. Gox. This is just another reason why decentralization is so useful. Bitcoin clearly has demonstrated that.

No reason has been given, which is odd. Had they been hacked? lawsuits?

Anyway, stay safe storing your coins on your own devices. A good option is Atomic Wallet. Do recommend (although I do not agree with everything they do).

 

 

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