Post
Topic
Board Beginners & Help
Re: Another reason and proof to keep funds in your wallet not in an exchange
by
reagansimms
on 15/09/2023, 02:58:13 UTC
Although this has not happen to our exchange where we put our funds for a long time,
Who can guarantee that the same incident will not happen on the exchange where you store funds. You gave Another reason and proof to keep funds in your wallet not in an exchange, but without realizing it you have told us you still keep funds in the exchange (based on what you wrote in the piece of sentence I quoted).

There are so many different wallets available to store Bitcoins, so why store them on an Exchange. Incident after incident continues to occur, such as exchange hacks which result in huge losses for the exchange and users who store their funds there, but every time there is a new case there are always users who also lose their funds. This incident needs to be spread widely in order to remind each other how dangerous it is to store funds on an exchange, the safest place to store funds is a wallet where you can control the private key.