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This blog brings you the best Cryptocurrency & Blockchain, ICO & P2P and Exchange & Laws news. Also contains technology and research based post from all around the world every single day. Get informed! Think Future!
Monday, 21 June 2021
Take your Bitcoin off the exchanges
This is very important.
There are hundreds of million of people who own Bitcoin, but there are only 53 million wallets.
Link to site showing number of wallets: https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html
Given that exchanges and whales each have dozens/hundreds of wallets, it's likely that only 25 million unique people have Bitcoin wallets.
- Not your keys, not your coins
- When holding your coins on exchanges, you assume massive counterparty risk
- Exchanges use the coins to lend/borrow as needed, allowing rehyothecation (which is bad for the price of Bitcoin).
Take 10 minutes to get a free soft wallet (Exodus, Coinomi, etc.) or hard wallet (Trezor, Ledger, etc) and MOVE YOUR BITCOINS OFF EXCHANGES.
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Anyone else?
Ive gotten into crypto because I quit smoking cigarettes recently . I’m now not only making my life better by being a healthier version of myself ,by putting the money from darts into crypto I’m building wealth for my future . Also it’s a mental distraction that’s made cravings easier .
Only sharing in hopes it may get one of you to put the pack down . Cheers
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