Elon Musk spoke about the disadvantages of cryptocurrency platforms and supported the idea of abandoning them. Thus, according to the head of Tesla and SpaceX, cryptocurrency owners should store their “keys” themselves without dependence on Coinbase, Binance and other exchanges.
According to Musk, as long as the keys to the wallet are not in the hands of the user, it is impossible to consider that these assets belong to him. He noted that when buying cryptocurrency through platforms such as Binance or Coinbase, users do not own the keys. Moreover, they also do not have a virtual wallet with keys. The advantages of such platforms are a convenient working environment, but there is no storage and protection of keys.
Among other things, Musk spoke out “for” the idea of rejection of such platforms. By the way, similar services at the moment are used by about millions owners of cryptocurrency.