Newcomers post Mt Gox will not know the misery experienced by lots of early adopters in the Crypto space – in early 2014 Mt Gox which was one of the largest currency exchanges vanished with all their coins. Mt Gox ‘lost’ 640000 Bitcoins!
I tried to first get into Bitcoin in January 2014 and I attempted to open Mt Gox account. Mt Gox at the time appeared wholesome and an easy on-ramp into Bitcion.
Boy am I glad that they turned down my account application on the 31st of January literally a week before they went bang on the 7th February and took everyone’s bitcoins and keys. [Link to collapse of Mt Gox](https://en.bitcoin.it/wiki/Collapse_of_Mt._Gox)
I would have lost all my bitcoin and also faith in the system.
On a positive note I had already opened an account elsewhere and just purchased my first few Satoshis (when a whole coin cost about $400).