Why and How To Withdraw Your Bitcoin From Exchanges
Why should I withdraw my bitcoin from an exchange?If you have to ask permission to use what’s yours, it’s not truly yours. Have you ever heard the phrase “Not your keys, not your coins”? It’s true. If you do not withdraw, and hold your bitcoin private keys, you are not in control of your own money. Leaving your bitcoin on your exchange account means that you are placing a significant amount of trust in a third party exchange.What are bitcoin private keys?Bitcoin private keys are like the passwords needed to move your bitcoin around on the network. To send or spend bitcoin, you need your....
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Here’s why you need to hold the keys to your own bitcoin and never store large amounts on exchanges.
Needless to say, as it stands today and has stood since the first bitcoin exchange was launched, your bitcoin is not safe on the exchanges.
A user on Reddit just explained that he was able to withdraw 60 Bitcoins from Cryptsy even though his balance was 0. His current balance is now -60. This guy must be one of the most honest Bitcoin users out there, letting Cryptsy know about the failure and even sending the Bitcoins back. As he says, it is someone elses Bitcoins. Creds for this guy. He writes: I have sent back the 60 BTC I was mistakenly able to withdraw from Cryptsy. If this affected you too, please do the same. Don't take someone else's bitcoin. Xmas is coming up : ). We advice all of our readers to withdraw their OWN....
On-chain data shows the Ethereum Supply on Exchanges has plunged to a new all-time low as investors have continued to withdraw ETH. Ethereum Supply On Exchanges Has Continued Its Downtrend Recently In a new post on X, the on-chain analytics firm Santiment has discussed about the latest trend in the Supply on Exchanges for Ethereum. […]
Lawyers of embattled former NFL player and investor Reginald Fowler have filed a motion to withdraw as his representative counsel.