Stop Saving Your Bitcoin (and other crypto) Addresses In Exchanges And Wallets

[Haunebu]

Most people are lazy op when it comes to these things which is why they don't really focus on changing addresses regularly. You can't really blame them since they aren't aware of the pitfalls related to reusing the same addresses for a long time.

Exchanges, wallets etc should warn them now and then about changing their addresses for their own safety.

[Taskford]

Stop Saving Your Bitcoin (and other crypto) Addresses In Exchanges And Wallets
Period. Full Stop. End Of Line.

Wallets are lost.
Other exchanges you may have sent to in the past have closed or changed receiving addresses.
And again we see something like this happen.

https://bitcointalk.org/index.php?topic=5476264

Not your keys not your coins. And not an address you have access to not your coins.

With more and more exchanges shutting down and the constant hacks against them using saved addresses is just going to cause loss of access to coins more and more.

And if you sent to your own wallet, don't save the address.
Address reuse is bad for privacy anyway but beyond that if you loose access to that wallet for whatever reason do you even want the possibility that you can sent to it by mistake at some later time?

The coins you save may be your own.

-Dave

Not really a good option to hold our asset on exchange since there are so many things that could possibly happen especially if we are not always monitoring our funds.

Imagine if we store our funds on binance and we receive this message coming from government https://www.reuters.com/technology/philippines-sec-block-access-worlds-largest-crypto-exchange-binance-2023-11-29/ and we are not aware because we are not active following the news then for sure we could provably lose our balance stored in Binance or even on other reputable exchange.

So we should store on the wallet which we are in total control like the one we handle our own private keys since this is much safer than any other platform. If we are worried about the fees I guess this is just a minor concern since for sure everything will be corrected and we can deal those fees in normal state.