Post
Topic
Board Nigeria (Naija)
Merits 3 from 2 users
Re: CEX is not the best platform in regards to holding Bitcoin for a long term
by
Barikui1
on 22/07/2024, 09:53:01 UTC
⭐ Merited by Salahmu (2) ,CryptopreneurBrainboss (1)
I didn’t actually pay attention or take out time to read all you’ve written but I’m just making this writing from the topic and speaking from your topic, it’s no longer a topic that people shouldn’t hold their assets on centralized exchanges for several reasons except you’re willing to give out your personal details which can easily be used to track you, just incase the need be.

There are other very good noncustodial wallets we can use to hold our coins especially for long term sake and a ledger or hardware wallet is always advised for those that want to hold for long term sake.

Me myself I just tire, because this na song wey we done dy sing In this our own naija local board for some time now, and na only people wey no know, go still dy fall victim to this kind of mistake, though I fit still argue say this op  post wey this guy post now no too bad sha, because newbies dy sign up into the forum every day and sincerely speaking, no be all of them dy knowledgeable enough to know all this things, so this him post just be like a reminder to Dem wey be newbies.

One thing about storing your asset inside a centralized exchange wey make am terribly bad is that, anything wey happen to that exchange, just as FTX matter, your money don go, so no be bad idea to dy post something like this once in a while, so that our newbies wey no know, go also get the update, though some people go still think otherwise sha, but na my own opinion be this.