vlada on Nostr: No. FTX was the 2nd largest exchange in the world, larger than coinbase, and it ...
No. FTX was the 2nd largest exchange in the world, larger than coinbase, and it collapsed. People lost the IOUs that the company promised them. You see, you don't own the bitcoin on exchanges because you don't control the private keys.
Keeping your btc on an exchange is just ensuring that you will one day lose it. If you want to hold bitcoin, you MUST self-custody, there is NO OTHER WAY AROUND IT.
The best way to do this is to have a hardware wallet, ideally a coldcard (Q or mk IV). This device will hold your private keys offline, not touching the internet. You must then transfer your btc from the exchange to the bitcoin addresses generated by the private keys held on the wallet device.
This may sound complicated, but it really isn't. You're a brilliant man, you can figure it out.
Keeping your btc on an exchange is just ensuring that you will one day lose it. If you want to hold bitcoin, you MUST self-custody, there is NO OTHER WAY AROUND IT.
The best way to do this is to have a hardware wallet, ideally a coldcard (Q or mk IV). This device will hold your private keys offline, not touching the internet. You must then transfer your btc from the exchange to the bitcoin addresses generated by the private keys held on the wallet device.
This may sound complicated, but it really isn't. You're a brilliant man, you can figure it out.