🚨 Why leaving your cryptos on a platform is dangerous :
When you buy crypto on a platform (like Binance, Coinbase, etc.), your cryptos are stored in a wallet controlled by that platform, not by you.
➡️ *Not your private keys, not your cryptos* :
As long as you don’t have *your own private keys*, the platform can technically *freeze, block, or lose your funds*.
Here are the *main risks* :
- *Hack* 🥷 :
Even the largest platforms can be hacked (Mt.Gox, FTX, etc.), and funds stolen.
- *Bankruptcy* 📉 :
If the platform goes bankrupt, it can use your funds to save itself, and you lose everything.
- *Withdrawal blocking* 🔒 :
In case of a crisis, some platforms block withdrawals (which has happened several times).
- *Human error* ❌ :
A bug, a maintenance error, or a wrong click can make you lose access to your funds.
- *Government regulations* ⚖️ :
A government can force a platform to block or freeze user accounts.
🛡️ How to avoid this risk ?$BTC
- *Use a personal wallet* (like Metamask, Trust Wallet, Ledger, Trezor, etc.).
- *Transfer your cryptos off the platforms* after purchase.
- *Keep your private key* and your recovery phrase safe.
🎯 Summary :
*Buying your crypto on a platform is OK. Leaving it there = BIG RISK.*
*Be the master of your funds. Control your private keys.*
