PSA Please move your bitcoin off of exchanges and into a wallet.

I know that 90% of this sub understands this so if you do, I'm sorry to spam and there's no need to interact with this post. For the newbies I urge you to move your bitcoin into a decentralized wallet. You don't actually own any bitcoin on these platforms. In simple terms, it's an IOU from these exchanges to grant you your bitcoin. One of the advantages of bitcoin is that you are essentially your own bank. This also means there's no FDIC to ensure you get your money in the event of bankruptcy. I would hate for anyone to lose their hard earned money, especially from no fault of their own. Don't put your faith in these exchanges, none of us know their true legitimacy and protection. Setting up a wallet is much more simple than you may think. Visit and it will literally walk you through the process. 5 minutes later and you'll be good to go. Ideally, you would want to get a hardware wallet, but this does require a purchase. I'm mostly speaking to investors that don't have much skin in the game. If you did i'd hope you already know this. Bitcoin Ogs, please don't come at me in the comments. I don't see enough posts for new comers and i'm just trying to simplify everything. Hopefully this helped some people out there👍 Keep stacking

submitted by /u/Ambitious-Mix-8723
[link] [comments]

Leave a Reply

Your email address will not be published. Required fields are marked *