You are viewing a single comment's thread from:

RE: When you send crypto to an Exchange it's no longer yours untill you get it out again.

in #life7 years ago

Sorry for sounding ignorant, but I am a new Steem user and only have Steem that I have earned through the Steemit website. Is this currency safe? Do I own it or should I be exporting it to a wallet? I understand the distinction between Steem Power which needs to be powered down over a period of time, and liquid Steem which can be traded for BTC for example, but who holds that liquid Steem, is that in an exchange as well, and therefore not secure? And what about Steem Dollars, they seem to be a variation of Steem but pegged to the US dollar?

Sort:  

The STEEM and SBD in your profile's wallet belongs to you and not to an exchange. You have full control over it.

yes, this is true. Just to add: never lose your owner password/key.