For a long time, I have been hearing and seeing not your keys, not crypto or take your coins off centralized crypto exchange or get yourself a ledger or cold wallet so you can own your keys and own your crypto fully, but I used to just ignore them but by day and with the way crypto exchange is filing for bankruptcy, it is making it scary to leave your coin in any crypto change or hot wallet because if that crypto exchange goes bankrupt or shut down your coins will go down or bites the dust with them, because as Terra luna crashed so many exchanges that invested in it directly or indirectly are in deep shit already but it is worst for those who invested in LUNA directly because those that invested indirectly by lending other crypto exchanges loans for some profit stand a chance of getting their money back but might still lose the money if the other crypto exchange can not and ends up not paying the loan given to them, which is not going to be good for them and their customers.

Cold Wallets Or Crypto Ledgers Sales Would Definitely Skyrocket

Using a cold wallet or crypto ledge has a lot of benefits, for starters, it is more secure than using a hot wallet or crypto exchange wallet, it is not connected to the Internet, so they have a low chance or no way of them being hacked except you give out your keys to the wrong person or post it online for the world to see, the amount of Bitcoin's and other coins that have left crypto exchanges in June is the largest so far and now with the way crypto exchange are filing for bankruptcy it might even double this month, meaning that people are increasingly understanding self-custodial benefits, just want their coins to be safe and don't want to be a victim of any crypto exchange going bankrupt. And it is also very logical for someone or people who wants to hold their coins for a long term to choose cold wallets at a time like this with the prolonged bear market, which helps them avoid the temptation to sell off their coins at a huge loss.

Currently, the sales of cold wallets are increasing despite the crypto market price dipping, I think that might be all thanks to the crypto exchange's bankrupt issues, but in the case of Russia that the demand for cold wallets has increased by 700% as reported by a local newspaper, I don't think Russia's case has to do with the bankruptcy issue but has more to do with the global sanctions as a result of the war with Ukraine, that left Russian citizens with no choice but to embrace crypto, so for safety sake cold wallets is advisable, so in my opinion that is the reason why the demand for crypto cold wallet increased in Russia.

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