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BTC · 18w

It's a nonsense to have your Bitcoin on a custodial exchange. It's like a bank that is saving your crypto. Not your keys, not your coins.

Most exchanges offer you a wallet where you can "hold" your bitcoin. The reality is that those are *their* bitcoin and not yours. You have to trust them that they will always let you have control over your part of *their bitcoin* The beauty of bitcoin is the fact that you can be your own bank. You don't need to depend on anyone. If you depend on an exchange, it's like having the money in a bank, where you depend on their promise that they will let you operate. If you really want to hold your bitcoin get a wallet where you hold your keys (12/24 word seed). Then you are truly holding bitcoin and no one will be able to have control over your funds. Edit: added some text.
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