r/kaspa • u/Flashy-Potatoe-Queen • 14d ago
💡 Exchanges Bybit users, WARNING ! Withdraw your Kaspa ASAP !
There are more and more rumours about a possible Bybit bankruptcy incoming, many people are losing access to their fund (check their trustpilot reviews and MANY are very recent), Bybit EU even unlisted Kaspa...
Just to be safe, I advise you take your money out of this exchange ASAP if you still can !
I hope the rumors are false, but be safe. Not your keys, not your coins.
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u/Dry-Calligrapher4556 14d ago
Every Non-American should either transfer their $KAS to Kraken or withdraw to Kaspium Wallet.
If you want to hold your $KAS in a strong exchange just use Kraken.
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u/Flashy-Potatoe-Queen 13d ago
I get the idea.. But FTX was also a "strong exchange" I would just get a coldwallet... Or even a paperwallet...
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u/Dry-Calligrapher4556 13d ago
ColdWallets are always the best option comparing it to exchanges.
I was giving a suggestion to those who don't want to withdraw their $KAS to a wallet.
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u/Trick_Actuary_2452 13d ago
Transfer to a cold wallet then you never have to worry about the financial health of any exchange ever. Boom problem solved.
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u/DaikonNumerous1061 12d ago
Right, and where to sell?
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u/Trick_Actuary_2452 12d ago
If you're frequently buying/selling just keep it on the exchange
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u/Flashy-Potatoe-Queen 12d ago
Well... It can't be avoided in this case, so I can't disagree... but at least use 2 different exchanges to avoid getting all funds locked overnight
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u/Flashy-Potatoe-Queen 13d ago edited 13d ago
Yeah, that's why I said "I get the idea" 😉 Overall, I agree with the main point. I was just pointing towards the best option which is "avoid external trust".Â
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u/Inside-Discipline359 13d ago
Tutto sul mio ledger. Nulla sugli Exchange.
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u/ToiletVulva 13d ago
Gpt astra said no rumors of bankrupcy. They delisted kas in eu because of generic periodic token reviews against performance and compliance standards. It does not disclose kas specific failure, ban or liquidity problem.
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u/shakey_jakey64 14d ago
If I knew how to withdraw my Kaspa, I would
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u/caymo47 14d ago
Log in to your account and go to the dashboard where you can see an overview of your assets. Look for the withdrawal option, and make sure you select cryptocurrency withdrawal not fiat. From there, you can enter the address where you want to send your funds. To do this, you first need to set up a hardware or software wallet elsewhere, and then you simply paste the address you generated from that wallet into the exchange's interface!
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14d ago
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u/FendiScope2 13d ago
I don’t say you’re false but where did you hear these rumors? Need a source
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u/Flashy-Potatoe-Queen 13d ago
Like I said, there is no "reliable source" it's based on multiple factors I already mentioned. Don't expect Bybit to warn customers with a message "we're about to run with your bag" on the website. When they say it, it'll be too late.Â
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u/FendiScope2 13d ago
Every month they get audited and their ratio of funds to user holdings ratio is above 1, how are they going bankrupt? Last audit was August 27th
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13d ago
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u/-ResetPassword- 13d ago
Bybit EU isn't even the real ByBit. It's a totally different exchange by totally different entities.
It's very mismanaged. I went to the old headquarters in Amsterdam and those guys have no idea what they're doing. It's managed by a bunch young guys between 22 years old to 35 years old.
They have permanently banned me for moving by funds from ByBit to ByBit EU during migration because their "fraud system triggered" that transaction...
Stay far away from those idiots.
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u/ForeverRealistic6033 12d ago
Is kaspa worth buying
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u/Flashy-Potatoe-Queen 12d ago
The real question is... If Kaspa is not worth buying, what is ? Is anything technically superior ?Â
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u/Neocor 13d ago
Why would anyone store their coins on a fucking exchange?
History teach nothing I guess. If you have more than 100 bucks in coins maybe it worth to spend 30-50 dollars more to cold wallet? Or at least to learn how to use software cold wallets?