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All my btc is on robinhood

I’m not a crypto man, I purchased bitcoin whereas it was sizzling, made some cash, then misplaced all of it after which some. All of this by robinhood. I’m loosely conscious of what is occurred lately in order somebody who’s probably not within the know on these items, I wish to know what extra educated folks would suggest me do, maintain every part on robinhood, or chilly storage, and so forth? Thanks

25 thoughts on “All my btc is on robinhood”

  1. Those aren’t your coins. Those are Robinhoods coins. Your coins are on your hardware or cold wallet. If you dont have one, get one. Look at what has happened in 2022, the case for self-custody keeps getting stronger as exchanges go bankrupt and deposits disappear.

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  2. You don’t own any Btc yet then. Take it into your own custody wallet in order to own the keys. The power of the technology only unlocks when you do this.

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  3. Robinhood is one of the more dangerous apps to store crypto. They will freeze trading, block buying, and even prevent you from selling whenever it’s convenient to cheat you out of money. If you want to actively trade yeah I guess you can store it with a broker app but please don’t use Robinhood.

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  4. You need a proper open source wallet, to take custody of your bitcoin. This protects you from exchange collapse and also makes the space more healthy as it makes it harder for exchanges to have fractional reserves or lend bitcoin to short-sellers.

    Blockstream Green or BlueWallet for your phone are excellent free solutions for a few hundred or even a couple thousand $ worth. Beyond that, buy yourself a hardware wallet such as Trezor or Coldcard. Learn about seed backup and storage, as keeping your seed safe is 99% of bitcoin security.

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  5. Download Coinbase wallet, transfer. Robinhood only lets you withdraw 5k in a 24 hour period. They can legally steal your crypto, says it right in the terms and conditions.

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  6. Robinhood is an absolutely terrible place to leave your coins.

    You can get a paper wallet in about 5 minutes if you need to. Make one, and transfer your coins there. Then back it up!

    You are now 1000x safer than Robinhood.

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  7. Take it off Robinhood! Keeping BTC on Robinhood is essentially an IOU. Robinhood owns it, not you. Get a storage wallet like coldcard or ledger. No one knows what happens in the future. Don’t take any chances. Plus it kind of defeats the purpose if you don’t have control over your keys. Do it now!

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  8. Cold storage homie. That is the revolution. The average Joe to actually have complete control of their wealth and assets. Even if it’s not much, learning to do so is a smart move

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  9. Had everything on Binance for 2 years, yesterday I moved them to cold storage. I feel safer, and relieved now. whether exchanges crash or not, it will not affect my assets. I say go for it.

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  10. 🚨🚨You should withdraw ASAP. Robinhood apparently had some exposure to FTX and Alameda Research. Withdraw now.🚨🚨

    Use a hot wallet if that’s all you have, and order a hardware wallet in the meantime. I recommend Blue Wallet for a hot wallet; write down and store your recovery seedwords. DO NOT save your seed words on your phone or computer; DO NOT let your seed words anywhere near an internet connected device. Write it down. Or store it on metal. If you have >$1000 worth of BTC, I recommend buying a Coldcard from Coinkite.

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  11. GET YOURSELF A COLD STORAGE WALLET AND MOVE YOUR CRYPTO TO THAT THE SOONER THE BETTER. NOT YOUR KEYS NOT YOUR CRYPTO. KEEP IT OFF EXCHANGES PERIOD. IF YOUR GONNA TRADE THEN MOVE THE ALLOTTED AMOUNT TO THE EXCHANGE & HANDLE YOUR BUSINESS. BUT IF YOUR NOT TRADING THEM MOVE IT ALL TO YOUR COLD WALLET. I RECOMMEND A LEDGER OR A TREZOR JUST GET IT OFF EXCHANGES.

    JUST SO YOU KNOW THE MOVEMENT OF THE MARKET STILL EFFECTS THE CRYPTO IN YOUR COLD STORAGE SO YOULL STILL GAIN OR LOOSE PROFIT.

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