**TAKE YOUR COINS OFF EXCHANGES**

[patroncito]

Hi Everyone,

We need to start telling everyone across the crypto community to take their whole balance of crypto from the exchanges to their OWN WALLET .

That is the ONLY way to stop manipulation. Furthermore, it will create a huge shortage of coins on every single exchange and end up in a gigantic bull run


REMEMBER. Not your keys. Not your Bitcoins

[micbtc]

thank you that's a good advice everyone always should remember to withdraw all you're money from EXCHANGES because we don't know what will happen tomorrow if this EXCHANGES get hacked.

[samcrypto]

Depends on an exchange and if you are trading with the altcoins then your wallet can’t afford to hold some of it and you will be force to left that on your exchange wallet. Use the best and top exchange at least you can have the guarantee to be more secure but if you are not active then you just want to hold bitcoin or eth, then its really advisable to transfer it on your own wallet. Its ok to put money on exchanges as a trader, but don’t hold too much on your exchange wallet.

[dothebeats]

A good advice, and we've been getting the word out tk everyone for years now. Leaving coins on your accounts in exchanges isn't doing you any good, apart from the convenience it gives you when you're trading. If that cannot be prevented, just leave a couple dollars at most so as not to lose a hefty sum of money should the exchange get hacked.

And no, leaving no money in exchanges does not result into a bull run. Manipulation happens even if there is a shortage of coins in circulation, and trust me, a lot of people are adept into doing this, especially those long enough in the scene. Trading volume does not equate to the total coins currently present in an exchange; it's just a metric to measure how much was traded within a given period in time.

[JollyGood]

Sadly not everybody has every blockchain downloaded on their devices for each coin they hold. Many people find it easier to hold coins on exchanges for the sake of avoiding downloading whole blockchains for tiny amounts of crypto.

Hi Everyone,

We need to start telling everyone across the crypto community to take their whole balance of crypto from the exchanges to their OWN WALLET .

That is the ONLY way to stop manipulation. Furthermore, it will create a huge shortage of coins on every single exchange and end up in a gigantic bull run


REMEMBER. Not your keys. Not your Bitcoins

[bitmover]

I doubt this would trigger a bull run.
Probably many exchanges would broke and we could see a giant crash   if everyone just withdrawal al your coins lol

Anyway,  everyone really should withdrawal yo8r coins. But due to security reasons,  not to trigger a bull run.

[adzino]

Depends on an exchange and if you are trading with the altcoins then your wallet can’t afford to hold some of it and you will be force to left that on your exchange wallet. Use the best and top exchange at least you can have the guarantee to be more secure but if you are not active then you just want to hold bitcoin or eth, then its really advisable to transfer it on your own wallet. Its ok to put money on exchanges as a trader, but don’t hold too much on your exchange wallet.

This is where you are wrong. You are never forced to leave your coins on an exchange. I don't see any reason your wallets not being able to "afford" to hold some of your altcoins (I am assuming you are talking about multi currency wallets which itself aren't safe at all. Most of those multi currency wallet are online wallets which you should never be using!). You can always download the official wallet for that coin and store it over there.
Even "best" exchanges can't guarantee you 100% security! All exchanges are vulnerable to hacks.

[boyptc]

Hi, we've been telling this for a long time but it's sad to say that many don't want to listen to this advice.

Their justification is that it's easier to trade if the funds are there and if they want to save their wealth from dumping. They don't know that saving it through that will even cost them more if the exchange gets hacked.

[blckhawk]

I agree to most part, but not the bull run. As long as we rely on fiat like USD for valuation of BTC, we couldn't get rid the use of exchanges. The overall average price of BTC is derived from the price on each exchange, which is also driven by buy/sell orders.

Though I must agree that it isn't really your Bitcoins, since they haven't used the original core protocols to speed up orders, but also centralizes their system. If most people would get out of exchanges, it might trigger a crash to the price, and trading would be difficult (P2P direct trading), and the valuation would be vague.

[Krislaw]

This advise has been told here many times but here's why some people keep there funds there:
- To avoid paying withdrawal fee twice
Imagine paying for withdrawal for sending tokens to your personal wallet and having to pay again when you trade it to another coin or fiat.

- Active trader
Active traders tends to keep their funds on exchanges for urgent reason. Some use bot to do their trading and it requires them to leave funds there almost permanently.

The thing here is that most people are always slightly lucky during exchange hacks because it won't be funny when your little fund gets stucked the moment you're just trying to sell off.

[Rengga Jati]

Should we do it for the whole balance in the exchange for that reason? Is the reason the only one thing that causes the manipulation of the market? I don't think so. We will also say that not all exchanges will do market manipulation. That is why we should be more careful when choosing the exchanges. However, if the coins or tokens are only available on a certain exchange, we must be smart in analyzing whether there is any manipulation or not. We can look at the chart and also the movement or progress of the buy/sell chart on the exchange to determine the manipulation. We should also know the basic feature of the exchange. And if we are a trader, why should we take the whole balances?

[abel1337]

There is much reason why traders keep their wallets to exchange, and traders don't have a choice if they are an active trader that trades every day. They won't spend some withdrawal fee every day for the sake of manipulation.

I also think that it won't cause a gigantic bull run.

Every exchange has a promise to run their own business, One of the promises is the trust they give us traders to hold our bitcoin securely so we can use their services, One's you found a exchange that let you have a good experience with, The basic thing you will feel is when you use their exchange with a feeling of security and no anomaly behind your back.

[vicoma]

Does shortage of token or coins on exchanges have any effect in the market manipulation? I will say NO. Beside, not all hardware wallets supported all types of token and how many software will someone download to cope with having all coins off exchanges. It doesn't what the effort. The good advice could have been to convert them to the top coins like BTC and ETH and keep them off exchanges.

[bitbunnny]

I think that every Bitcoin user with decent experience knows so far that keeping coins on exchange isn't smartest thing to do.
Exchanges are not meant to wallets. They are often very vulnerable, with not enough security and client policy in case of cyber attacks and coin.or data theft.
Keep just the amount of coins that you want to trade and don't use only one exchange, that is my security advice. But I guess I'm not telling anything new.
Also, if exchange lose the money because of any reason like attack or misuse the whole burden is on user and you oftten don't have enough legal protection so try to diminsh that risk.

[Twinkledoe]

Exactly! Even the best can’t guarantee that your money is secure forever. But if you’re trader it will be fine to have your money on exchanges but make sure you monitor it and you know when to exit. Everyone should know this thing, this is cryptomarket and we should control our own wallet.

Very true! Everyone should have their precautionary measures when it comes to their portfolio, whether it is BNB or unknown exhchange. We don't know when will they next hacking attack will be and what exchange. Better store your coins in your own wallet and if you are a trader, transfer your money as soon as you finished your dealings. Better be safe than sorry.

[pakhitheboss]

It is a piece of good advice and it does really helps but, it also depends upon the exchange that you are using to trade your coins or tokens.

Apart from trading nowadays big exchange provides lending and staking services, investors are using those platforms to generate passive income.

There are not many multi-cryptocurrency wallets available in the market that provide staking services.

[Jating]

I agree that "not your keys, not your coins" philosophy and it's not safe to leave your coins in an exchange. But to say that it will create a bull run? Nah, I don't think so.

Actually we have a practice, what we call "Proof of Keys", it is celebrated every year, January 3rd if I'm not mistaken. So far we haven't seen this so called bull run, and it turn this so called event became like a witch hunt, like this one: https://twitter.com/Raindropactual/status/1205162036252094470, just saying.

[Ailmand]

True. Not to mention online wallets, especially exchange are susceptible to attacks. Imagine how much money has been lost since crypto started for people storing their money in exchange. I do understand that it is convenient if you are trading on a regular basis. However, it is not an ideal practice.

[JollyGood]

Crypto should only really sit on exchanges when you want to trade, that is it. In other circumstances they should be on your own wallet but as mentioned in my previous post it might be almost impossible for an average user to download hundreds of GB upon GB of several almost obscure blockchains on a desktop or laptop when holding almost useless crypto. In those cases an alternative is always searched for and a multi-coin holding wallet is usually what is used, if not an exchange.

[yazher]

Our number one local crypto exchange is the top and trusted crypto exchange in our Country. since I used it about 5 years ago, I never encounter some errors nor disappointments from their support team. I think it only depends on what exchanges are you talking about like those who are only emerged from nowhere. of course, no one would put their coins for too long on some new exchanges let alone making it as an alternative wallet. We only need to choose the trusted exchange and of course, if it is a big amount of crypto, we prefer a hard wallet for our own safety.