Post
Topic
Board Beginners & Help
Merits 3 from 1 user
Topic OP
Know why the exchange wallet are not safe
by
Su-asa
on 27/01/2024, 14:27:36 UTC
⭐ Merited by $weetne$$ (3)
What if we discuss this important thing concerning crypto currencies, investors and social media platforms? However, some discussion might have been concerning this dissertation, but it will be good if we keep on talking about them so that we will know and not get involved in any of them.
Some of us might be running from crypto scams from scammers on social media platforms. Wow, that's good, but that's not all.
We can keep a safe distance from scammers when we have protected our coins first. We can only protect our coins through 2 means.

1. protecting our seed phrase: We can start protecting our coins the first day we protect our seed phrase. It is very important to do this, because with this seed phrase, we can no longer access our Bitcoin when we don't have any means to log in to our Bitcoin wallet.

Do keep bitcoin in an exchange wallet: This is also important to be aware of. A lot of people only think that after protecting their seed phrases, their coins are secured.

However, if you do so, it can be secured when you store it in a safe wallet like an electrum. A Bitcoiner might think that he can not get scammed if he did not click on suspicious links on social media, but that's not all. One thing is to keep your bitcoins in a good wallet and protect them. What if you keep your coins in an exchange wallet and you try to protect your coins and then the exchange collapses? There will be no way to get back your bitcoins. That's why I have said earlier that storing Bitcoin in a secured wallet and protecting your seed phrases are some good ways to protect your Bitcoin. Instead of keeping them in an exchange wallet.