Friday, 16 April 2021

PSA: Move your BCH to a personal wallet after purchase. Do not leave it on an exchange!

I guess that there must be a lot of folks out there buying BCH right now, so I wanted to encourage everyone who's done so recently to move your Bitcoin Cash to a wallet under your control after purchase and not to keep it on an exchange.

Cryptocurrency exchanges are known to occasionally get hacked, run with only fractional reserves, and/or even lend out your assets to short sellers. Protect yourself and your assets by keeping them in a wallet that you, and only you, have the keys to. Thankfully, Bitcoin Cash transactions are extremely cheap and fast, so it costs you almost nothing to move your BCH off the exchange where you purchased it and into your own wallet.

If you need a wallet recommendation, I personally use the Bitcoin.com wallet on mobile and Electron Cash on mobile and desktop.

submitted by /u/gotamd
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source https://www.reddit.com/r/btc/comments/mrw10l/psa_move_your_bch_to_a_personal_wallet_after/

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