Quote from: o_e_l_e_o on Today at 08:59:35 AM

Here's a new reason which RickDeckard flagged up here: https://bitcointalk.org/index.php?topic=5452900.msg62374464#msg62374464

The SEC has filed charges against Binance, and are ordering them to hand over all customer deposits, coins, assets, private keys, and anything else to the US government.

You are crazy if you are still holding your coins on a centralized exchange after the shitshow of the last few months.

If I am not wrong, Isn't it for Binance.us only? I mean, Binance.us is Used by users from the USA only, right? I am unsure what is happening with them because I am not from the USA. I have less than $30 in my Binance exchange wallet, which you can consider a leftover. If users from the USA know what's happening and have access to withdraw their funds, I am not sure what they are waiting for. They should move their coins asap to a non-custodial wallet if they don't have hardware or a Ledger wallet.

The funny thing is, once CZ said , only 1% of people can handle crypto self-custody right now on December 15, 2022. Cointelegraph published an article where they said;

CZ has been a supporter of self-custody for years, referring to it as a “fundamental human right,” but has always urged users to “do it right.” He published a “CZ’s Tips” on self-storing crypto in February 2020.

During a Binance-run Twitter Spaces on Dec. 14, the Binance CEO continued to urge caution for those using self-custody wallets, arguing that more often than not, security keys are not stored securely, backed up or properly encrypted:

“For most people, for 99% of people today, asking them to hold crypto on their own, they will end up losing it.”

CZ reiterated that holding crypto in one’s own wallet is “not risk-free” and postulated that “more people lose money holding their own — lose more crypto when they’re holding on their own than on a centralized exchange.”

“Most people are not able to back up their security keys; they will lose the device [...] They will not have the proper encryption for their backup; they will write it on a piece of paper, someone else will see it, and they will steal those funds,” he explained.

The Binance executive also stated that even when self-custody funds are properly managed, “if a person passes away, they don’t have a way to give to their next of kin,” while custodians like Binance can implement a “standard operating procedure” to solve that problem,.

https://cointelegraph.com/news/only-1-of-people-can-handle-crypto-self-custody-right-now-binance-ceo