In cryptocurrencies: YOU ARE THE BANK. If you don't control your private keys you should be aware of the risks.

With what is happening, it's obvious people's greed and FOMO are getting the best of them. One guys excuse on leaving his coins on exchanges was that X-wallet is not user friendly. One guy didn't know there are other wallets.

In addition: since you are the bank don't tell anyone you are a BANK and how much you have be careful who you tell about your financial info. Talk about your finances only with your most closest of friends/relatives. These are people who you care about leaving all your possessions behind for whatever reason you are gone.

EDIT: Try and educate yourself as much as you can. I suggest reading about emotional investing. Read about about economics/finance, human behaviour/psychology/sociology. Don't trust your emotions and intuition. What else um....meditate or rub one out lol j/k I remember a state of euphoria back in December, that was a dangerous time for me. I had to fast from crypto during Christmas holidays and the New Year. Take a break from all this. Think things through. Be mindful of what is happening. Learn from history. I was arguing with a friend the other day because he wanted to try MLM and I warned him quickly about it. If it's too good to be true, be very skeptical.

EDIT2: Only buy hardware wallets from the manufacturer or authorized distributor. If the device came with a recovery seed, report it right away to the manufacturer. There was a recent scam when people bought Nano Ledgers with pre made seed. It means someone is keeping a list of wallet seeds to steal from. Only you should know your seed. Make your own seed/pass phrase.

EDIT3: I'm not advocating anything BUT if you are day trading, make sure you include the cost of sending your trading money to the exchange and sending it back to your own wallet. You should accept that as part of the cost in that practice. With XRB/NANO that is not even an issue since so fast to send them and no transaction/transmission fees. Trading fees are different though. Would you rather lose transaction fee amount or all your money? Pretty easy decision to make if we put it that way.

EDIT4: Identify all the possible risks. Think like crazy about it. We are still in the WILD WEST as many have said and this is new.

EDIT5: Please learn about your circle of competence and what it means. This video is perfect because it's made for crypto.

. This probably one of the best investing ideas I've heard about.

EDIT6: If you suffered a financial loss and are overwhelmed please seek help and tell someone. I understand now that some people are suffering mentally from this. Make a post on the internet even anonymously. Just vent. We should understand that we can't really confront a person if they are not thinking straight. Sorry for your loss regardless of the circumstance. Please don't be bitter and wish bad same fate on everyone else.