The creator of DigiByte (DGB), Jared Tate has implored the investors in the crypto community to desist from storing their digital currencies such as Bitcoin (BTC), DigiByte (DGB), Litecoin (LTC) and other truly decentralized cryptocurrencies on a centralized exchange in a time like this.
There have been a series of movements of digital currencies such as Bitcoin (BTC) into exchanges, due to the uncertainty of when and where the present price retracement would bottom.
The present price downtrend has hugely hit virtually all cryptocurrencies in the market. The stock market is also languishing. This is attributed to the outbreak of coronavirus across the world, especially in the United States.
Jared Tate’s Opinion about Where to Store Large Amounts of Cryptocurrencies
Amidst the huge price downtrend in the cryptocurrency market, more digital currencies have been moved from wallets to exchanges than otherwise.
This action could have been initiated by the unfavorable price actions, which probably prompted Jared Tate’s recent assertion that took the form of advice to the cryptocurrency investors.
In his tweet, he shared that this is not the right time for crypto investors to store large amounts of Bitcoin (BTC), DigiByte (DGB) and other decentralized cryptocurrencies on a centralized exchange.
“This is not the time to store large amounts of Bitcoin, DigiByte, Litecoin, Decred & other truly decentralized blockchain cryptos on a centralized exchange,” Jared Tate shared.
— Jared Tate ©️ (@jaredctate) March 9, 2020
Pure and Decentralized Projects like DigiByte (DGB) will Survive This Ranging Pandemic
In another development, the creator of DigiByte (DGB) Jared Tate also quantified the damage which the present global pandemic will do to the fake decentralized projects.
However, he expectedly backed DigiByte and other pure decentralized cryptocurrency projects to excel.
Jared Tate shared this, “As this global Coronavirus pandemic unfolds we will see some very disturbing things in the blockchain industry. You will see exit scams & premined fake decentralized projects drop to zero. True, pure decentralized projects like DigiByte will be a solid rock & beacon of light.”
DigiByte (DGB) Community Joins Uptrennd
About 3 days ago, Uptrennd, a social media platform built for freedom of speech, distribution of wealth, equality of opportunity and data security, welcomed the DigiByte community into its ecosystem.
“We are honoured to have the DigiByte community join Uptrennd. We applaud Digibyte for their ability to grow one of the largest communities, and most trusted blockchains in all of crypto. All the while keeping decentralization and ethics as top priority. Bravo & Welcome!” Uptrennd shared.