Cryptocurrency News

Analyst claims that exchanges sell your Bitcoin, crypto trading platforms respond

05/10/2022

Less than a minute

2022.05.10 14:45

Analyst claims that exchanges sell your Bitcoin, crypto trading platforms respond

Security breaches and hacks often highlight the risks of storing Bitcoin (BTC) on centralized exchanges. One analyst even claims that keeping your BTC on exchanges is also a factor for price dips.

Rufas Kamau, research and markets analyst at Scope Markets Kenya, explained his thoughts on how keeping BTC on an exchange lowers coin price. Kamau believes that buying BTC on exchanges only amounts to buying an “I Owe You” (IOU) which he describes as “paper Bitcoin.”

05/10/2022

Less than a minute

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