Why People Store Bitcoin on Exchanges
Exchanges offer convenience, instant access, and familiar interfaces. Many users keep their funds there out of habit or fear of managing their own wallets.
The Hidden Risks
- Hacks: Exchanges are frequent targets. Even major platforms have lost user funds.
- Account freezes: Funds can be locked due to regulations, KYC issues, or platform errors.
- Lack of access: Outages, bankruptcies, or legal actions can prevent you from withdrawing your coins.
Long-Term Storage Needs Long-Term Security
If you’re holding Bitcoin as savings or for the long haul, you need full control. This means moving funds to a self-custody wallet, ideally offline.
Security Tip
Buy on exchanges—but store elsewhere. Not your keys, not your coins.
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