Thread by @Valueteofficial

Remove your #Bitcoin from centralized platforms now, "Stop Supporting Short sellers" 🙏
Have you ever wondered how centralized platforms offer you that juicy yield on your bitcoin?
wondered how some lending platforms offer ultra low-interest rates for borrowing? 🧵💊

The only way these platforms can offer yield in the first place is by lending your bitcoin to someone to generate that yield ( there is no such thing as free bitcoin).
So who is paying that yield ? 🤔

There are only two possible scenarios
1) someone borrowing bitcoin from CeX for starting a business venture.
This exposes your bitcoin to the risk of failure of that business and also places the centralized platform in the shoes of a bank. 🏦

Since No crypto exchange has a banking license, doing this will be illegal ( hopefully no one is doing this )
Now, The only other way to generate a yield is loaning your #Bitcoin to 'Short sellers' who pay interest for the period of their borrowing 😠

This is actually worse than lending your bitcoin to a business because the short-selling actually suppresses the price of bitcoin, which slows down the overall growth trajectory of #Bitcoin

You see "Price growth" of Bitcoin is the main calling card of Bitcoin as it's not a dividend-yielding asset like stocks or real estate.
As a bitcoiner, you save your hard-earned money in Bitcoin hoping that the price grows up so everyone else sees the value of #Bitcoin

By giving into the temptation of earning yield on your bitcoin from a centralized platform, you are supporting the enemies of Bitcoin "the short sellers" inadvertently.
Short-selling not only suppresses the price of Bitcoin it also increases price volatility during bear markets

High volatility attracts the wrong kind of attention and makes people think that bitcoin is some kind of pump and dump scheme.
By leaving your bitcoin on a CeX you are also exposing your #Bitcoin to an ever-larger hacking risk.

if you are worried about storing Bitcoin securely hardware wallets are a fantastic option, you can increase security drastically by combining hardware wallets with Multi-signature wallets

coindesk.com/tech/2020/11/1…

Last but not least, Never sell your bitcoin if you believe bitcoin to be the best store-of-value asset ever, simply borrow against it, but only from platforms that support multi-sig wallets.
Remember "Not your keys, Not your Bitcoin"

Not Financial advice DYOR