RE: Why NOT to keep your Crypto on Exchanges! MUST READ!

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Why NOT to keep your Crypto on Exchanges! MUST READ!

in cryptocurrency •  7 years ago 

Solid advice and a good thing to keep in mind. Some things come to mind...

What if you have such a small amount on the exchange that the withdrawal fee would eat all of it? (Cryptopia has a 500k satoshi withdrawal fee for BTC. I started with 125k for trading...)

Which exchange are you referring to? CoinsMarkets? Lol, they got a bunch of my money, too but I made it all from trading and staking the 125k i previously mentioned.

Good luck out there!

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Thank You for your questions. If you have a small amount on an exchange, I would recommend purchasing more of the same crypto then transferring the total amount to the hardware wallet. This will greatly reduce the fees. I am referring to all exchanges large and small they are unsafe. Thank You for commenting on my post. Have a great night!

Thanks for the tip. Indeed, all exchanges are suspect. All my coins came from faucets and trading, so losses will hurt, but at least they won't be mortal wounds.

Unrelated: you are very active at responding to your commenters! I appreciate that, so I am now following you, even if I don't always comment. Have a good night as well.

Thank You very much! I really appreciate your positive comments.

hats EXACTLY right fellas... that IS also WHY i still have some bitcoin to my name... you see when "nicehash" almost got hacked for $65m in bitcoin i had my shit in my hardware wallet... in that way i was NOT robbed by anyone not even the ppl who run nicehash program ( the easiest way to mine currently without thinking and setting up a LOT of other shit..)