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mk4
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October 07, 2022, 05:14:04 AM
Merited by pooya87 (1)
 #21

I have some USDT that I plan to use to buy coins probably when BTC is down to 10k which I believed would happened in September but it never did so I moved the USDT out of the exchange back into my wallet.

Holding your coins and tokens is good and all that, but don't forget that centralized stablecoins are custodial and can be frozen even on non-custodial wallets.

Topic: [UPDATED] PSA: Most Stablecoins Can Be Frozen, Even in Your Own Wallets https://bitcointalk.org/index.php?topic=5204055

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Z390
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October 08, 2022, 05:52:05 AM
 #22

Some exchanges won't have any problem until they become a victim of hack, not every exchanges have a smart CEO like CZ so yea exchange is the last place you want to keep your coins, see what happened with BSC a day ago? If CZ wasn't capable the hacker will walk away with millions of dollars worth of BNB and that will affect the entire crypto market, most especially those tokens running on BSC smart contract.

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RockBell
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October 08, 2022, 07:13:15 AM
 #23

With the way companies are going bankrupt this days I think I should warn my fellow Bitcointalk friends, give me a minute of your time.

Forget about how big a crypto exchange have grown, do not leave your coins on exchange, we can never tell which exchange will go down unexpectedly in this bear market.

I have some USDT that I plan to use to buy coins probably when BTC is down to 10k which I believed would happened in September but it never did so I moved the USDT out of the exchange back into my wallet.

Do not relent, do not trust any exchange, trust only your private keys, remember, not your keys, not your coins.
Quote
Forget about how big a crypto exchange has grown, do not leave your coins on exchange, we can never tell which exchange will go down unexpectedly in this bear market.

When buying coins, that is one of the most crucial factors to take into account. Avoid leaving your assets in any exchange since you do not have complete control over your money. Although this has been repeatedly advised, people still purposely leave their money in exchanges because they believe it is simpler to sell on an exchange than to send it directly from their wallet to trade on an exchange.

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Do not relent, do not trust any exchange, trust only your private keys, remember, not your keys, not your 
If you want to keep your money secure, trusting just your keys rather than any exchange is the way to go. Since your keys are personal to you, you have complete control over your coins as opposed to an exchange. Good one op just that despite everything people keep leaving their funds in exchanges they believe in nothing happening to funds.

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libert19
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October 09, 2022, 02:47:39 AM
 #24

Bit off-topic than what post is about but.. BTC to $10k would be very generous, unlikely to happen.

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October 09, 2022, 07:33:37 AM
 #25

Exchanges always carry risk.  The safest are external hardware wallets.  If you are a regular investor in bitcoin and cryptocurrencies, you can get a hardware wallet for a small fee.  Trezor, Ledger or others, it doesn't matter.  The important thing is to have a hardware wallet that you can secure.

 In my country (Turkey) too many local exchanges are going bankrupt and they are stole millions of dollars.  We see this often in local news.  I also use exchanges, but I always keep my long-term investments in my personal wallets.  If there is a break in Bitcoin and it falls below $ 10k, there may be some problems in the exchanges at that time.

R


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October 09, 2022, 08:47:36 AM
 #26

With the way companies are going bankrupt this days I think I should warn my fellow Bitcointalk friends, give me a minute of your time.

Forget about how big a crypto exchange have grown, do not leave your coins on exchange, we can never tell which exchange will go down unexpectedly in this bear market.

I have some USDT that I plan to use to buy coins probably when BTC is down to 10k which I believed would happened in September but it never did so I moved the USDT out of the exchange back into my wallet.

Do not relent, do not trust any exchange, trust only your private keys, remember, not your keys, not your coins.
I appreciate your intention to help other users.

Talking about USDT, beware, USDT had some issues in the past and I believe it is not one of the best and most reliable stablecoins nowadays.
But if you use USDT in your day, I believe it is a good option because it has a lot of liquidity, now, if you prefer to keep some money (stablecoin) as an opportunity to buy Bitcoin cheaper, I imagine USDC/Coinbase/Circle and BUSD/Binance/Paxos are some more reliable and transparent alternatives than USDT

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Findingnemo
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October 09, 2022, 10:04:56 AM
 #27

With the way companies are going bankrupt this days I think I should warn my fellow Bitcointalk friends, give me a minute of your time.

Forget about how big a crypto exchange have grown, do not leave your coins on exchange, we can never tell which exchange will go down unexpectedly in this bear market.

I have some USDT that I plan to use to buy coins probably when BTC is down to 10k which I believed would happened in September but it never did so I moved the USDT out of the exchange back into my wallet.

Do not relent, do not trust any exchange, trust only your private keys, remember, not your keys, not your coins.
Not your keys not your cryptos that is the simple fact so never use exchanges for storage purpose butnI would like to remind you that holding USDT also has high risk because we never know when it will crash and there are lot of allegations against USDT in the recent days about their reserves for their minting tokens are not really balanced, so for the safety of your portfolio value move USDT into something trustable or even fiat is a good choice.

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.Duelbits.
..........UNLEASH..........
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