Post
Topic
Board Trading Discussion
Re: Why Not Just Buy BTC?
by
Smartvirus
on 10/07/2023, 23:46:17 UTC
I've seen over one dozen websites believing that BTC will skyrocket in the upcoming years.
The platform I use is Coinbase.
I'm thinking of just buying BTC-USD and just leaving it be.
Any thoughts on this strategy?
Buying bitcoin is always a great move. But putting it into an exchange within an indefinite time, that will be a very wrong move.
It’s a typical case of having to do the right thing in a way that puts you at risk and can easily result in the waste of your efforts. Bitcoin is decentralized and though there exist centralized systems within its space, there are rules to its usage and one of those is never to store or save your coins on an exchange.
The few exchanges that happens to have gone out of business or liquidated customers asset should be a reminder but, sadly no one takes these seriously.

Exchanges serve you more in trading but afterwards, saving your coins in a noncustodial wallet should be your best move to ensure proper security of your asset.