Twelve+ year crypto veteran here. I long ago lost count of how many exchanges I’ve used that have later died from hacks (or exit scammed). Only lost funds in one (“we have suffered a stolen”). You need to be like a ninja when it comes to exchanges: Get in, do what you came for, and get out ASAP.

Why do people struggle with this? It occurs to me this is the exact opposite of the fiat security model. If someone dumps a boatload of cash on you, your first thought is to run to a bank with it. Understand that with crypto, the centralized exchanges ARE the major vulnerability, and thus the last place you want to be leaving crypto lying around. Learn the basics of personal crypto security and you will be far better off holding your crypto yourself. Just like Satoshi intended.

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