**TAKE YOUR COINS OFF EXCHANGES**

[meanwords]

Not going to happen for everyone. Trading will always be a thing even in the cryptocurrency world and exchanges is the only thing that will help gate that way. Even if the risk is there, traders have no choice since it's the fastest and the most profitable. Although it's the best advise for a holder like me, it's still not applicable to day-to-day traders, and there's a lot of them in fact.

[adaseb]

Depending on how well you are up in your security for most people I think its safer for them to just keep their crypto in a reputable exchange like Coinbase or Gemini. Many people use OS like Windows 10 and they browse shady websites and download questionable software and keep their BTC in their wallet without a password even.

In those situations they are better off just keeping it on the exchange. The exchange has great security and as long as you use a unique password and use 2FA then it would be very difficult to get your crypto stolen. Sure not your keys not your coin but many newbies have no idea what cold storage or what a hardware wallet it, so they are better off just trusting the exchange with their crypto.

[UserU]

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.

That's the caveat. Some wallets require you to download their blockchain and sync them, wasting precious time and space.

[fiulpro]

Yes I completely understand where it's coming from but you know sometimes the money in the exchanges comes in handy , you know when you have to buy something or are out of cash and you can just encash some there right at the moment .
Not whole amount should be in the exchanges but you know maybe 1-5% of your total holdings can give you a great backup .
Ofc exchanges manipulate the market and also they are not at all safe , so ofc one shouldn't keep their whole crypto money on the exchanges it's not worth it.

[Anonylz]

This is about taking precautions about our funds and be careful, having our funds in our personal wallet is much safer than having them on exchange, but sure those who engage in trading can not always have their funds in and out of the exchange,
Sincs am not a trader, my funds are always in my personal wallet all the time except i feel the need to have them,
Future uncertainties is the main reason why it's not safe to hold funds in exchange, too many hacks have been going on in exchanges lately that gives cause for concern.

[Theo222]

I also think that we should be the one that should take care of our own money,
We should be responsible for what ever we do with our money and besides what's the use of our own wallet if we wouldn't use it?
We don't know what could happen in every exchange just imagine the best exchange binance got hacked then it could also happen to the other sites as well, Luckily Binance cover everything by their SAFU.

[fratoshi]

Some think that decentralized exchanges are safe.
Never forget what happen to Cryptobridge users.

[cryptoaddictchie]

So how about us who dont have a custodial wallet? I did have some wallets that have my own keys but the problem it is used only for ethereum and tokens. It's also under third party app. I know there is still some risk but my coins are resting in peace on Binance Exchange, I am well confident that even though this exchange has been breached or hacked again. They would compensate users for this. This is the best idea actually to do but not applicable for everybody.

[virasog]

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

Moving your coins out of exchange will not create shortage of coins neither it will be a reason of any bull run but it will make your money secure and you need not to worry if the exchange is hacked or scammed. We have seen almost every exchange being hacked once and our funds are not secure. Some big exchange like binance provide you a bit more security by having a special fund in case of hack, but none of the exchange is 100% secure.

[redsun114]

Quite a good advice and it’s no longer something new because I know for sure that this has repeated over a hundred times in this forum. And also I don’t think that those that stores their coins on exchanges are newbies, because most of the newbies that starts making use of Bitcoin starts with their private wallets, but as time goes on and they get to hear about exchanges like Binance and Bittrex, that’s when they start to hop on them.

All the above, I don’t think there’s any amount of persuasion you will give that will make people to remove their coins from exchanges, it’s their choice.

[malevolent]

And also I don’t think that those that stores their coins on exchanges are newbies, because most of the newbies that starts making use of Bitcoin starts with their private wallets, but as time goes on and they get to hear about exchanges like Binance and Bittrex, that’s when they start to hop on them.

Tons of newbies simply buy bitcoins on Coinbase or on a similar site and don't even bother withdrawing to their own non-custodial wallet. Newbies are the ones who are most likely to not have received the warning about not storing their coins on an exchange.

[reallester]

Yes I totally agree with you on that. People really need to be educated on the need to storing or managing their bitcoin or crypto generally from their own private wallet rather than exchange.  We have had issues of hacks and thefts on these exchanges. Hence this potends a great threat to investors or traders who leave their funds on the exchanges. Truly, Not your keys, not your bitcoin
 It is our sole responsibility to protect and safeguard our funds from scams and hacks.

[Seth2009]

Thank you for reminding us sir especially those that are new in this market... Make all your funds safe and sound thru other cold and hardware wallets and avoid keeping your funds in exchanges.. Nowadays, a lot of exchanges now are turning scams or suddenly shutdown... Even the top exchanges now is not safe from hackers.. So better safe than sorry...

[Assface16678]

Yes I totally agree with you on that. People really need to be educated on the need to storing or managing their bitcoin or crypto generally from their own private wallet rather than exchange.  We have had issues of hacks and thefts on these exchanges. Hence this potends a great threat to investors or traders who leave their funds on the exchanges. Truly, Not your keys, not your bitcoin
 It is our sole responsibility to protect and safeguard our funds from scams and hacks.

That was true because some of the people are holding their money to the exchange and we cannot stop them. because some of them are always making an exchange because they want to keep updated on the market but today some of the exchange is having a bankruptcy and they immediately closing and some of their users does not get their funds still one of the safeties ways to save your money is always making the transfer into your funds is into your wallet because we are avoiding having some issues like that also, thanks to aware me and other users too because some of us are hobbies to store our funds to the exchange and that was not quite good.

[maydna]

Thank you for reminding us sir especially those that are new in this market... Make all your funds safe and sound thru other cold and hardware wallets and avoid keeping your funds in exchanges.. Nowadays, a lot of exchanges now are turning scams or suddenly shutdown... Even the top exchanges now is not safe from hackers.. So better safe than sorry...

Yes, that is for preventing that we can use. It is better to move the coin into another wallet that we can control by ourselves, so we don't have to worry about the scamming that can happen anytime. We can send back the coin into the exchanges when we want to sell the coins, and of course, before we send, we need to make sure that everything is fine so we don't have too long to wait for the confirming.

And we don't need to tell other people that we already move the coins into another wallet because that can attract them to curious and they will want to know, and that can lead us to get scam by someone that we don't know.

[carlisle1]

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 .

i think only traders has some crypto in their exchanges and withdrawing everytime they done for specific trades.

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

don't you think that manipulators can counter this?they can take their coins also and sell soon so how come that the Bullrun?

REMEMBER. Not your keys. Not your Bitcoins

yeah Not our Keys is not our Wallet ,only Noob will remain currency in exchange.

[omone1]

It's amusing to see people leave a good amount of fund on exchanges even without major trades, and when such exchanges gets hacked or scam, they groan in pain. I don't have too much faith in centralized exchanges, after daily trade, I retire to my private wallet and I avoid questionable exchanges.   

[pawanjain]

First things first, it's always risky to keep your money on exchanges since you are not the one holding the funds.
Your money is always at risk if you are not holding it's private keys.
Secondly, I have never heard of OWN wallet before. So I am quite sure that it will be totally risky to keep your money in there.
It's always a best to store your coins in wallets whose private keys you own and then transfer them to exchanges whenever you want to trade.

[isaac_clarke22]

Quite a good advice and it’s no longer something new because I know for sure that this has repeated over a hundred times in this forum. And also I don’t think that those that stores their coins on exchanges are newbies, because most of the newbies that starts making use of Bitcoin starts with their private wallets, but as time goes on and they get to hear about exchanges like Binance and Bittrex, that’s when they start to hop on them.

All the above, I don’t think there’s any amount of persuasion you will give that will make people to remove their coins from exchanges, it’s their choice.

Still it is gonna be a common mistakes and bad habit that new people will do once they just started in here. I think we should consider emphasizing guidelines for newbies trading in whatever coins they're planning to trade. Not for how to earn because everyone has their own strategy anyway, but rather putting up guidelines that would keep their money safe just like how MEW warns their user before creating their first wallet.

[Ridwan Fauzi]

I think manipulation work just because there is someone who have a lot of coin, as we know that the coin price movement is because supply and demand which is mean there is someone who sold his all coin then we will actually see the price decrease. As has happened today where a billion worth of bitcoin has sold through mixing service. An owner of bitcoin has sold their bitcoin and make the price decreased because it will help many people got panicked. So, there is nothing with an exchange as long as the exchange is being reputable and also you need an exchange as well when you have intention to sell them.