NEXO - NEXO

FTX Collapsed! Who is Next? Crypto.com? Nexo?

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In this video, I will explain to you the recent collapse of FTX one of the biggest crypto exchanges in the world, and its founder Sam Bankman-Fried. The reasons behind it, why FTX crashed, and discuss if the same could happen to other Crypto Exchanges like Crypto. com or Nexo App.

I will also share with you what I am planning to do next with my own Crypto portfolio. In fact, I will withdraw my Crypto from Nexo and move it to my own hardware wallet, to be precise my Ledger Wallet. Except for my Nexo Tokens, which I will leave on the Nexo Exchange to continue using my Nexo Card and get 2% Cashback on every transaction plus daily staking rewards on my Nexo Tokens. Once the Crypto markets recover, I would then transfer some of my funds from my Ledger Wallet back to Nexo as I still love their platform.

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⏰ TIMESTAMPS ⏰

00:00 FTX Collapsed Intro
00:48 What Happened to FTX?
02:10 Hindsight is 20/20
02:28 My Experience with FTX
03:15 The Downfall of FTX & FTT Token
04:24 Is FTX a Scam?
04:58 Option 1 – Sell While You Can
05:30 Option 2 – Pray Your Crypto Exchange Is Safe
06:20 Is Nexo Wallet Still Safe To Keep Your Funds?
08:48 Option 3 – Withdraw Your Funds To a Hardware Wallet (Ledger Wallet)
09:56 What I Will Do With my Crypto Portfolio Next

👇 ABOUT ME 👇

Hi, I’m Kai and in this channel, Smart Money with Kai, my main goal is to simplify Personal Finance for you and I will be talking about all things Personal Finance, Financial Minimalism, Investing, Stocks & Cryptos, and Business Mindset to help you build a life of lasting impact and financial independence.

Two new videos are uploaded weekly every Thursday & Sunday.

Stay healthy, get wealthy and I see you in the next video. Ciao, Kai.
———————–
Disclaimer: I am not a financial advisor. This video, and the ideas presented in it, are for entertainment/educational purposes only and should not be construed as financial or legal advice. You, and only you, are responsible for your investment decisions.
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Affiliate Disclosure: This description contains some affiliate links, meaning that I may earn a small commission if you click through and use these links, at no additional cost to you.
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#ftx #cryptocom #nexo #cryptocrash

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14 Comments

  1. Yes keep everything on ledger and only transfer what you need for nexo. Plus there wallet is coming out maybe keep some nexo and bitcoin on there.

  2. The most important question is how is Nexo able to give 5%-12% interest?? It seems like all the exchanges are over leveraged.

  3. 9:16 I'm doing the same. Just 2 questions:

    if I had 4 ETH in Nexo (about 4,800 dollars today) and I put them in the Ledger, how will be seen the funds in Nexo and in Ledger Live? ZERO funds in nexo and 2 ETH in Ledger Live? Can you confirm it?
    If I put only 1 ETH in Ledger, can i put in the future 1 more ETH in Ledger, right? I will I have 2 positions in Ledger Live or just 1 position of ETH opened with all teh funds together?

    and YESSSSSSSS, PLEASE HELP US to the step by step Nexo-ledger beacuse I ordered my ledger Nano, thanks brother CIAO

  4. Hi Kai! As I mentioned on my last comment to your previous video, I too withdrew all my crypto from nexo to my wallet except for the nexo tokens and my monthly euro deposit to payback the nexo card payments. It didn’t make sense to withdraw the nexo token because even if I held it in my private wallet and hypothetically nexo would go bust, the token would be worthless anyway. I hope when the market start’s to recover nexo proves it’s a serious company. If so I will deposit my crypto on their again. By then the nexo token will start mooning 😊

  5. As I was going through you video, I was super shocked to hear you had all your money on Nexo, that was just stupid !
    22 years ago when I started investing and doing interesting courses, one thing I was told , was Never to put all your eggs in one Basket.
    Thank god you have seen the light ….
    🙏👍👍👍👍
    Stupidity and Greed ( not referring to you ) is never a good way to invest.
    I use many many platforms and never wouid have more than £85K on any one .
    For my large amount/ portfolios I pay wealth managers ( high fees) and have no complaints after 20 years .
    The uk government as changed CGT , which is fine , as we knew it was coming and things have been put in place since January, hence good wealth managers 👍👍👍👍👍
    Keep the good work up .
    Congratulations on your Dubai apartment, hopefully many more to add to your property portfolio 🙏🙏🙏🙏🙏🥰

  6. The wisest move is not to have a give-and-take with any exchange whatever the advantages are, however transparent they may be, a hardware wallet is safest solution to sleep well at night because in the period we live in now you don't know what's going to happen and not only in crypto in general

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