significant increase for self-hosted wallets in the context of the crisis

Hardware Wallet Maker Treasure said it noted great interest in its units after the series of suspensions from crypto companies and centralized exchanges.

Source: AdobeStock / velirina

According to a spokesman for the company, bitcoin (BTC) and cryptocurrency holders are getting “nervous about leaving their assets with custodian banks and exploring opportunities for self-sufficiency. “

“As a result, we’ve seen a significant increase in attention to Trezor devices,” the company told Cryptonews.com without giving specific figures, explaining that they “do not want to share this data internally.”

That said, a lot of work still needs to be done to educate people on what it means to deposit their assets on a crypto exchange, instead of being the only person who can access and control them.

According to Trezor,

“While the increase in interest is noticeable, most people still do not care about the risk they run by holding their tokens on a stock exchange. So our long-term goal is to teach people the need to keep the staff: If you have no control over your own keys, you do not really own your tokens. “

Meanwhile, Trezor’s rival, General ledgerdid not respond to a request for comment from Cryptonews.com.

The Trezor observations come not only against the background of a particularly trying bear market background, but also as a number of centralized crypto companies are in turmoil and struggling not to drown.

Many companies have stopped withdrawals and transfers and have drawn criticism from their users and the wider community – while waving through other companies. Cryptofunds Three arrows capitalplatforms Travel digitally and recently the crypto lender Celsius have all filed for bankruptcy. According to court documents, several Celsius-related entities, including Celsius mining, have also filed for bankruptcy.

Many people have said that they plan to stop using centralized exchanges altogether and start keeping all their cryptocurrencies on hardware wallets, saying that these recent events (and in many cases the funds they lost as companies , which owned them, went bankrupt) destroyed their trust in centralized entities.

Nick Saponarofounder and CEO of the cryptocurrency payment platform Divi Labscommented that with the Celsius bankruptcy application, “the question of whether its customers will be able to recoup their investment is a key issue”, adding:

“Personal restraint is no longer a choice, but an imperative”.

Saponaro argued in a comment sent to Cryptonews.com that the interest of cryptocurrencies is to give each individual what he is entitled to: financial sovereignty. Yet people will relinquish that sovereignty and control over their own resources as long as they use centralized services, he says, adding:

“There has never been a better time to ensure that people understand the risks of using centralized exchanges and consider other options that will allow them to continue to have access to their coins and not lose their entire wallets if an exchange fails. “

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