Post
Topic
Board Bitcoin Discussion
Re: Coins on an exchange, any exchange, are never safe
by
rby
on 09/11/2022, 20:43:52 UTC
Every day it seems a new story emerges about an exchange going bankrupt. Has been a recurring pattern since the Mt. Gox collapse. Why, with so many examples of failures, do people continue to keep their money on these? You don't own crypto if you have "coins" on an exchange, you have an IOU from a business that may or may not even be solvent.
The fact is that some people are very big risk takers, they don't let their coin be on the wallet where they cannot use it to try their luck in some coins.
They always look out for opportunities in exchanges where they could increase their portfolio and this opportunities come within a short period of time. Before they will transfer their coins from wallet to exchange the opportunity has gone, that is why people still keep their coins in exchange to enable them be dynamic and take risk