Warning #5 pull your assets out of exchanges ASAP

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Not your keys not your coin. When you deposit crypto to an exchange you are an unsecured creditor loaning out your assets so that Wallstreet types etc.. can take leveraged bets using your money.

More exchanges will be locking out customers in the next few weeks and it will be with no warning at all. They will lie even hours before doing so.

Right now what is happening is cascading margin calls and liquidations occurring just like during the 2007-2008 wallstreet/banking crisis. The big difference is crypto exchanges do not offer SIPC/FDIC insurance so when the doors close you lose everything you worked for.

The only way to protect yourself is to withdraw assets and put them in cold storage.

Right now a tsunami is washing over the entire exchange industry and its only a matter of time before you lose what you have deposited with them. Don’t be lazy or distracted now is the time to protect what you worked for.

submitted by /u/meshreplacer
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