Topic: Be responsible for your coin - page 2. (Read 204 times)
No any centralized exchanges will he responsible for your bitcoin if anything should happened no matter how little or huge is the worth of your assets with the as long as you don't have it with you on the decentralized wallets, it has always happened that investors looses all their hard earned coins to the exchange they use when they got attacked or hacked down, recent events should teach us a lesson despite we have those coming in late into bitcoin but if they had research well, there's every tendencies to have come across this kinds of warning before to stay away from centralized exchanges.
Some irresponsible persons will still not respond to these warnings. How many persons will even remember to continue to be responsible for their coins when things look normal again and peaceful in cryptocurrency. It is better to not have any coin at all or change the coins you have and spend it on irrelevant things than to keep the coins thinking they are safe in an exchange. If other top CEOs of some very known exchanges can come out and make public statements encouraging people to consider self-custody as priority for their bitcoins, maybe more persons will listen.
I got this mail from Ray, the CEO of paxful today. It takes one who is determined to serve the public to give a warning like this, From all indication he is willing to be contented with trading commissions. More interestingly, they provide a lightening network for cheaper and quicker Bitcoin transactions straight to their cold wallets.
He did not just issue the warning sternly, he still took time to provide links explaining why his customers should hold their own coin except for day traders and an easy step to self custody, not many exchanges will do this for their customers.
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Why? For far too long people have trusted others to hold money on our behalf but—like we saw with the banks in 2008 and recently with FTX—you’re at the mercy of these custodians and their morals 😓
However, Bitcoin has given us the chance to finally be in control, and we must take it. Rest assured, if you do wish to keep your Bitcoin on Paxful, your funds are safe with us, but remember—only keep what you want to trade! 🙏
Here are two guides on how you can self-custody your Bitcoin:
However, Bitcoin has given us the chance to finally be in control, and we must take it. Rest assured, if you do wish to keep your Bitcoin on Paxful, your funds are safe with us, but remember—only keep what you want to trade! 🙏
Here are two guides on how you can self-custody your Bitcoin:
- Why everyone should hold their own Bitcoin
- Five easy steps to self-custody your Bitcoin
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