Why on Earth should you go to the trouble of withdrawing bitcoin from an exchange?

 

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If you paid for #bitcoin and don't hold it in your own wallet, you don't have any bitcoin.

You might have given an exchange your fiat money, bought some on their market from other customers, and the exchange credited your account page with a number next to the symbol of Bitcoin – but that's not bitcoin.

That's a personal account you have with the exchange that no one else in the world recognises. It's a claim to some bitcoin that the exchange has in THEIR wallet. Well, MIGHT have in their wallet.

Consider the analogy of buying gold online, and then seeing your account credited, but never receiving the gold in your hands. You just got scammed. Do they even have the gold? Will they give it to you if you asked? Don't make the same mistake with your bitcoin #deletecoinbase

If you don't know how or are too scared to do this, you can take baby steps listed here to learn…

https://armantheparman.com/bitcoin-storage-get-better/

submitted by /u/armantheparman
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247 Bitcoin

Bitcoin & Crypto & NFT News

247 Bitcoin -1 Bitcoins -247 BTC - 1 Crypto - Kryptous

1 News - 247 News - 1 Search - 1 eBooks

 

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