Post
Topic
Board Beginners & Help
Re: Another reason and proof to keep funds in your wallet not in an exchange
by
Issa56
on 13/09/2023, 14:33:58 UTC
Its just wrong on first place , why would you store your valuable asset on exchange ,
Lots of people are always leaving their coins on exchanges, especially newbies. I can even say a higher percentage of people are leaving their coins on exchanges, just a small percentage are always storing their coins on a non-custodial wallet. I think some people don't just know the risk of leaving their coins on exchanges, that's why they don't care about sending them out after buying them on exchanges. If a coin is left on an exchange, if anything happens to the exchange, then the coin that is in the exchange will go down with the exchange. Just imagine you are losing all your bitcoin just because an exchange has been hacked.

doesnt matter how convenient and safe , no one really knows when security breach and other something goes wrong happen. The only right answer was ur own wallet , you get your own private key and full access and control on your own asset .
Leaving a coin on an exchange is really convenient because it can be easily accessible, but we all know it's not safe, you can easily lose your coin, so why not just get a non-custodial and protect your coin? You don't have to allow anyone to control your money for you, it's just better to have full control of your coin.