Post
Topic
Board Bitcoin Discussion
Merits 2 from 1 user
Re: Why do people store their cryptocurrency on exchanges?
by
lizarder
on 07/01/2023, 13:32:39 UTC
⭐ Merited by fillippone (2)
I asked my close group of friends how many store their assets on exchanges and only 1 out of 6 uses an offline wallet.

The recent incident with Luke Dashjr confirms that you are always at risk of being hacked no matter how vigilant you are.

Will give my thoughts on the Ledger Nano once I receive it.
Currently 88% of bitcoins are outside the stock exchange, as explained by Ratimov in his post Re: Long-term Bitcoin accumulation continues People are starting to realize that valuable assets like bitcoin cannot be guaranteed when placed on an exchange, the case that happened to FTX has had a lot of impact on asset storage, so people are starting to pay attention to security behavior.

And one more thing, why is the right reason not to put Bitcoin on the exchange, because indeed the case that has happened to FTX is the fact that keeping bitcoin on the exchange is very unsafe. As explained by theymos in his post Reminder: do not keep your money in online accounts