How I Survived a Black Swan Event in Crypto

I want to share my personal experience navigating a "Black Swan" event in the crypto world. In 2020, during the height of the COVID pandemic, I decided to explore crypto lending as a way to protect and grow my assets. After comparing different platforms, I ultimately used both WhiteBIT and Bybit, finding them well-suited for my goals. I even saved some screenshots of the interest rates to track my returns.
WhiteBIT's recent Halloween campaign on crypto fears inspired me to reflect on these experiences.
Here are the key strategies that helped me weather the storm:

• Diversification is key
  Spreading your investments across different crypto assets reduces risk. During downturns, a diversified portfolio protects you from catastrophic losses tied to a single asset. I held a mix of stablecoins, altcoins, and DeFi tokens, spread across platforms like WhiteBIT and Bybit, which both offer solid lending options.

• Leverage crypto lending for passive income
  One of the best moves I made was participating in crypto lending. Platforms like WhiteBIT and Bybit allow you to lend your assets in exchange for interest, providing a steady passive income stream. This strategy helped preserve my capital while generating returns, even as the market fluctuated wildly.

• Avoid panic selling
  During a Black Swan event, it's easy to feel the pressure to sell, but I've learned that patience pays off. Markets are cyclical, and downturns are typically followed by recoveries. I held onto my assets and avoided the temptation to sell at a loss.

• Prioritize security
  Another critical lesson from events like the FTX collapse is the importance of choosing secure platforms. I always rely on Hacken's cer.live ratings to ensure I'm using exchanges with top-notch security. Both WhiteBIT and Bybit rank high in their assessments, which gave me peace of mind when lending my assets.

In summary, my survival through the Black Swan event was thanks to these strategies: diversification, earning passive income through lending, resisting panic, and ensuring platform security. I encourage anyone navigating volatile markets to consider these steps to safeguard their portfolio.