I have always been a critic of storing crypto assets on exchange wallets because if it happens that it is hacked then you will be the victim of the circumstances. Of-course they offer good opportunities like if you stake your tokens and you will be rewarded but still its a bit risky.
I joined PUBLISH0X in April 2021 and that same month i made 2 small withdrawals of Ampleforth Token to KUCOIN exchange since they give you 10% of the money you withdraw.
As a person who enjoy experimenting with things, i just told my self i want to try and withdraw my tokens from kucoin to METAMASK so that i see if it is worth it to withdraw to kucoin and get the 10% or maybe the charges from kucoin to metamask will be too much. This is what shocked me:
Can you imagine i couldn't do anything with my 4AMPL which i withdrew because the minimum amount of AMPL you can withdraw is 100 that is worth $140 which is too much. Now there is nothing i can do to take my money from there unless i keep on withdrawing to Kucoin unlit i have 100 AMPL then i withdraw, but well that goes against my principles because i will have to store my token there.
What if i withdraw and my balance is 70 and then i cant make withdrawal anymore then it mean i will lose it.
Another thing which annoyed me was the transaction fee of 20 AMPL for my withdrawal to be processed and that id $28 , can you imagine how stressful it is. I just concluded that i lost that 4AMPL but my next withdrawal i will use metamask because i hate losing money that way. knowing it is locked inside an exchange and i cant get it out till i meet their conditions.
