Coins must be taken off the exchange - why?

Why is it so important to get the coins from the exchange?

1. risk of hacking.
The major exchanges are constantly under attack from hackers. Several exchanges have already been hacked and the losses suffered by investors were enormous. Once the ADA are on your wallet, they are much safer because the hackers always focus on the exchanges.

2. accumulation of voting rights in the exchanges.
The accumulation of more and more ADA in the exchanges is leading to a now threatening accumulation of voting power. This could influence the further development of the cryptocurrency by the exchanges in their favor.

3. no access to NFTs
Since the exchanges are not a real wallet with keys, you have no possibility to buy, view or send NFTs with an exchange "wallet".
(If you don't know what NFTs are, you can ignore this point)

4. distortion of competition.
Exchanges now operate the largest staking pools, thus reducing the chances of small community pools to also verify blocks.
Binance alone operates 64 (!!) staking pools at the time this article was written - decentralized looks different.

5. loss of control - the most important point!
If your coins are on an exchange, you have NO KEYS to these coins and therefore the exchange (instead of you) has full control over YOUR coins - and can do whatever it wants with them.
"Not your keys, not your coins".

5. against decentralization.
Storing a DECENTRAL coin on a CENTRAL exchange is simply the wrong way to go.

So be careful and don't stake your coins on an exchange, but download your own wallet, transfer your coins there and stake your coins in a community pool - e.g. with us...