It's taken me a year to understand how much riskier it is to keep BTC on exchanges but today, I took my BTC and transferred it to my new BitBox02 (BTC only) wallet and ultimately onto the BTC chain.
There are a LOT of reasons not to keep BTC on exchanges but the main ones for me were 1. If they get hacked I would take huge losses outside of my control to no fault of my own 2. Exchanges lend out my BTC and make money off me without guaranteeing they have the BTC to support everyone taking BTC off exchanges (more and more I see this becoming a trend so less and less with be available, i dont want a future surprise a few years from now) 3. It's literally my BTC now and no one can take it from me, ever. It's the only asset in the world that this is true
If you are careful and research, taking BTC off exchanges is easy, safe and important for your independence in what is designed to be decentralized completely
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