Proof of Keys is the Birthday celebration for the blockchain and the freedom it brings. The bitcoin blockchain roared to life more than a decade ago on 3 January 2009. Today marks the official birthday of the bitcoin blockchain which many users around the world celebrate by participating in the Proof of Keys movement.
As usual, we encourage everyone to participate in Proof of Keys and to withdraw their bitcoin to their own secure bitcoin wallets where they are the holders of the private keys.
Your keys, your bitcoin. Not your keys, not your bitcoin. – Andreas Antonopoulus
We believe exchanges should be used for its intended purpose: To exchange crypto, and not be a place to store your bitcoin.
Take part in Proof of Keys
By storing your crypto on an exchange you are putting your funds at risk. Nobody knows if an exchange will be hacked, or if you could be targeted and your login details phished. An even bigger risk is that an exchange can be forced to freeze user wallets by court order. There is no benefit for a user to leave funds in an exchange wallet. Be very careful of exchanges who promote themselves as being “secure wallets”. The reason for this is because they are not actually giving you the whole picture. Directors of the company who own the exchange platform will NOT go to prison for you. Furthermore, if a court were to order the suspension of an account, the company will have to oblige. In summary, if you leave funds on an exchange you risk your funds being confiscated.
Every year on January the 3rd, everyone should participate in the Proof of Keys celebration. You can do this by taking possession of your crypto. This process will force exchanges to prove their liquidity.
Withdrawing to your own wallet will also allow you to also test yourself. Consequently, you will be able to double-check your own process, as well as your wallet settings and passwords. You might surprise yourself and even find some bitcoin in a random wallet that you have forgotten about!
Wallets that you can use to secure your bitcoin
You have a plethora of wallets to choose from. Do some research and use one that suits your needs.
Make sure you are in control of your crypto, only use a wallet that you control the private keys. If you are using your mobile phone to secure your bitcoin, we suggest you give BlueWallet for Android and iOS a try.
If you are using a desktop computer to secure your bitcoin, take a look at using the Electrum bitcoin wallet. It is easy to secure your own bitcoin and doing so will save you a lot of hassle in an emergency.