⚠️DON'T LEAVE CRYPTO ON EXCHANGES ⚠️

📊 We know that through exchanges and brokerages, we, investors, can buy cryptocurrencies and assets in an easy and simplified way. However, what some don't know is that leaving your assets on the platform can be a mistake. Want to know more? Read the post.

Most of the risks are major, and they include: Security risk; Financial risk; Regulation; Loss of control

🔓 Security risks are due to the fact that exchanges and brokerages are often targets of cyberattacks. If the exchange is hacked, your funds can be stolen, as happened on October 7, 2022, when the blockchain created by Binance was attacked and hackers stole 570 million dollars.

🥷 There is also the risk of fraud, which aims to manipulate asset prices (done by the broker) and create fake accounts

💸 The financial risks would be that the exchange or broker goes bankrupt. Recently, we had the case of FTX, one of the largest brokers that went bankrupt and its former CEO, Sam Bankman, was sentenced to 25 years in prison, as the company was using investment money to cover loans and other similar matters, in addition to creating its own currency linked to no real value!

🧊 Another risk is the freezing of accounts for security reasons, congestion in a network or regulation of a certain asset. As happened on October 17, 2023, Binance blocked withdrawals in dollars and lost the guarantee of customers' funds. In addition, there has already been news of $BTC being blocked by the same company

👥 In addition, we also have the lack of privacy, since you do not have self-custody of cryptocurrencies and the possibility of hidden and/or high fees

🔐 To avoid this, when buying cryptocurrency values, always transfer them to a trusted decentralized wallet whenever possible and keep your 12-24 words safe

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See you soon and happy investing 😁