Hello, I invested 100,000 ATOM, but I don’t know the current situation

Hello, I am a COSMOS investor. Since I rarely participate in on-chain transactions and have no time to research, it is very complicated. I put about 100,000 ATOMs on the Binance exchange! Recently I heard that ATOM may be forked. I don’t know much about this. Will my ATOM be affected? ? ? I don’t seem to be very willing to operate a large amount of ATOM on the chain, because I can’t ensure whether my operation is safe!

Question: If there is a fork, what impact will it have on me?

You’re fine. You will probably just miss out on any of the forked chains token if it even happens. Business as usual. You should also consider doing some research and moving on chain maybe split the stake into a few hardware wallets. You would be making considerably more in staking rewards and can help decentralize the network further by staking to a few validators outside the top 10.

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richer_richer: Hello, I am a COSMOS investor. Since I rarely participate in on-chain transactions and have no time to research, it is very complicated. I put about 100,000 ATOMs on the Binance exchange! Recently I heard that ATOM may be forked. I don’t know much about this. Will my ATOM be affected? ? ? I don’t seem to be very willing to operate a large amount of ATOM on the chain, because I can’t ensure whether my operation is safe! Question: If there is a fork, what impact will it have on me? If you stake on Binance it is very likely you will not get the forked coins. Also centralized exchanges offer really bad conditions, so you get less APY than if you just do it yourself. It is easy to stake safely if you buy like 3 Ledgers and put them in different locations, so even in case of fire, your wallet does not burn down Staking with the Ledger is not hard and with your amount of wealth, I’d absolutely recommend it. I have a friend and he kept saying “Why wouldn’t I have all my bitcoin on Mt.Gox? It is the biggest exchange in the world, what can go wrong? Rather I mess up my keys, than Mt.Gox goes bust!”. Well in 2014 it happened and Mt.Gox was gone and so his…

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Jae wants to make a lot of changes in that fork so it might be a while before it happens in reality.