I Friend of my was telling me today the amount of bitcoin that he has store in bybit so far, that's why I intended to share this talk with everyone on this thread, As we talk about accumulating bitcoin and hold for a long period of time, let also talk about securing our bitcoin investment, because we can't only centralize our focus on accumulating bitcoin continuously, without also talking about how to protect our bitcoin investment for the long period of time.
Securing your bitcoin is crucial to protecting your investment, I came to understand that many investors expecially newbie still have their bitcoin investment store in a centralized exchange like bybit and binance and other exchanges, while there are storage options that one can use to secure and take control of their bitcoin investment, options like (hardware wallets , paper wallets and software wallets) why not get one of this wallet and secure your bitcoin investment rather than leave them in a centralized exchange were you don't have full control over your bitcoin investment.
I think since your friend has accumulated a lot of bitcoin on his Bybit account and he is yet to withdraw his bitcoin to a non-custodial wallet where he will have 100% control over his bitcoin, I think you should have educate your friend on the potential risk of storing bitcoin on a centralized exchange like Bybit for a very long time so that he will quickly withdraw his bitcoin from his Bybit account to a non custodial wallet and avoid losing his bitcoin to Bybit exchange in the near future. Sometimes people that store their bitcoin on a centralized exchange know of the risk in storing bitcoin on a centralized exchange, but since they have yet to accumulate enough bitcoin to withdraw to their non-custodial wallet, that is the reason they leave their bitcoin on a centralized exchange. But if they accumulate enough bitcoin that is worth $500-$1000, they will withdraw it to their non-custodial wallet since they will need to pay for the centralized exchange withdrawal fee.