Want to leave crypto? Here’s a quick guide to quit cryptocurrency world safely

Retail investors are increasingly selling their digital assets as the cryptocurrency market plummets. This market crash may have been due to several factors, including the Luna Terra stablecoin fiasco and the shutdown of withdrawal services by several crypto firms.

Arguably the toughest crypto winter ever. Companies such as WazirX and Binance are vying for ownership of the company for the first time. Not to mention, regulatory uncertainty from global regulators has deepened the trauma of investors who have lost their life savings.

So, if you’re planning to quit the world of cryptocurrencies, here’s a step-by-step guide that explains exactly what to do.

Step 1: Sell Everything
To exit the crypto space, you should sell all your digital assets and liquidate them through a crypto exchange. Any cryptocurrency platform that holds your cryptocurrency should be able to help you withdraw your wealth.

Step 2: Send your cryptocurrency to the wallet
If your portfolio is bleeding and you haven’t decided to get out of cryptocurrencies, your best bet is to send your cryptocurrencies to a secure hardware wallet. Store them up until the bear market reverses. However, make sure you always remember your private key (equivalent to your encrypted password). Keep it in a safe place so you can always access it. Cryptocurrencies are stored in your crypto wallets, which are based on blockchain technology – storing digital assets in a way that no one can crack your private keys.

Step 3: Stop following the graph
Crypto markets are volatile. Every day you see potential investment opportunities. Exiting the crypto space becomes difficult when you are constantly chasing new coins. You have to prevent “reversals”. Try to keep all crypto groups on Telegram, Reddit and anywhere on social media. These groups can build false narratives and promote new coins.

Step 4: Find other alternatives
The best investment option for distraction may be in a regulated space like the stock market. If you want to invest your money, learn about the stock market, portfolio construction and transfer your interest from cryptocurrencies to the stock market. It’s worth noting that while the stock market is also volatile, it has a so-called “daily down cycle” that protects you from investment losses.

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