For the 10000000th Time Get Your Bitcoin Off of Exchanges

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For the 10000000th Time Get Your Bitcoin Off of Exchanges

I am posting this because I constantly see people giving each other bad advice. The thought is that "Coinbase is pretty safe" or "Gemini is pretty safe" and self custody is complicated and hard. Well, FTX was bigger than both and look at them now. They froze withdrawals yesterday, lied about it, and are going under. Do you feel safe keeping your Bitcoin there? Read the terms and conditions for Coinbase where they tell you that they will use your assets as collateral in case they become insolvent. Believe them when they say that!

If you feel that self-custody is frightening, know that it is actually the whole point of Bitcoin - "a peer to peer electronic cash system." Not my Gemini account to my friend's Coinbase Pro account cash system. Paradoxically, onceyou withdraw your corn there will be a sense of calm you will have knowing you no longer need to trust a third party.