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Why should I withdraw BTC off the exchange?

    Cryptocurrency exchanges are not the same as banks and cryptocurrencies are not the same as the FIAT money we know.

    Of course, but what does it mean? The US dollars, British pounds, Euros, and other FIAT currencies are under the control of particular countries and they are also regulated by or better to say controlled by central banks like ECB (European Central Bank) in Europe, FED (Federal Reserve System) in the US and so on in other regions. Those institutions as same like the local banks can pretty well control what should happen with the money we nowadays use every day. It might have a negative impact on our money as is inflation or in other words loss of the money value.

    Cryptocurrency on an exchange at a risk

    Positive on the FIAT money we use now is the bank insurance against its loss out of our bank accounts, simply for being stolen. This is something that cannot be simply reverted or insured in terms of cryptocurrencies and therefore BTC (bitcoin) and also all the other cryptocurrencies and tokens stored in cryptocurrency exchanges are at a risk.

    The risk is not just for being stolen by a hack of your personal account by an exchange, but also by a hack of the whole cryptocurrency exchange (as it happened many times in the past).

    Threats for cryptocurrencies from governments

    The other threat is the country’s government itself, for whom this new money could be a threat of losing power above controlling their economy. Cryptocurrency exchanges are nothing else but just companies providing some kind of services that are regulated by these governments.

    Bitcoin for being your own bank

    Nevertheless, bitcoin has been developed for not being under the centralized control of a government, and therefore it does make sense to be your own bank and store your bitcoin in your personal wallet (the best way is a hardware wallet) and eliminate the risk of a loss by some kind of these higher powers like are hackers, owners of cryptocurrency exchanges or governments.

    Therefore BTC DCA application is able to automatically withdraw your bitcoin out of the cryptocurrency exchange to your personal wallet whenever your balance will reach a selected amount.