Why I am pulling all my coins from Centralized Exchanges

[adekogbe]

It is really not an advisable practice to leave your coins on any exchange, centralized or Decentralized, because you do not hold the private keys to those exchanges and all your tokens there are T a big risk. And example is the coincheck hack of earlier this year.


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[camps74]

Great job man!  If everyone follows suit and kicks Centralization and KYC to the curb and we force the issue we can actually have free money and some freedom to boot.  Glad to see some fellow free thinkers here not fumbling over themselves to fill out kyc forms for airdrops and such.  The KYC participators are scum who don't realize what they are doing.  Keep up the great work. 

[dewildance]

Yes, it is often risky to have money in the exchange. But we have hundreds of coins or tokens. It is very difficult to follow developments about them. Every day one of them wants SWAP. At least the stock exchanges can provide this. There are thousands of tokens that have turned into nothing in the Ethereum wallet.

[FrozenPhantom]

It’s a considerable measure of tokens have been moving to POS so keeping them in your wallet rather than trades gives you stake remunerates too.

[Athanasios Motok]

I don't know why I have from the ancient times money and coins scattered in different places. I don't keep all my coins in one exchange. They I have and on wallets and on exchanges are scattered. I was so taught a long time ago that you don't have to keep everything in one basket.

[aligator2017]

…
 Now I have no reason to believe that me moving my coins will bring this to pass. But I am going to do it simply because I don't like the idea of other people using my money to work against my interests.

Come on, do you really think that all coins existing on your account balance belongs to you? Only these numbers belongs, all coins are on hot exchange wallets. So short position is not the deal between persons - it is only agreement to buy/sell at a certain price. But coins remain at the same places

[micle222]

Almost all of the exchanges were centralized because there were many merchants in circulation.
And the Exchange also has strong security from hacking but from the outset it is better to pull your altcoins from Busa and then enter wallet hardware.

[yslyv]

i also agree with you. centralized exchange platforms are very dangerous for all users. not only for the ones that trading at this exchanges but for all ecosystem. because as soon as they have a problem, all market is affected badly.

[talkbitcoin]

Short positions in Ethereum are at record levels.

shorts are happening a lot more these days because prices of altcoins including ethereum are falling hard and real traders don't hang around doing nothing hoping for pumps to make profit. real traders want to make profit from any opportunity they can get.

in a healthy market shorts and other stuff happen alongside each other. it is not a bad thing at all. and not to mention whether you pull your money out or not, they will continue happening. if anything the dumps will become more severe as more people pull out of the market as the sells aren't going anywhere.