The Aging Crisis of Bitcoin’s Supply – It’s Not Just Grandpa Who’s Moving Funds to Binance!
Life is full of tough decisions, and for Bitcoin holders the tough decision of late has been whether or not to move their funds from wallets to exchanges. If it’s been sitting dormant, it’s the perfect opportunity to take advantage of Bitcoin’s bearish signal and benefit from a price drop. And many have decided to move their funds – to Binance.
We thought this was only grandpa and grandmas cashing in on Bitcoin, but recent statistics show it might be a bit of an even bigger problem: a full-blown aging crisis.
An Aging Crisis? What in the World?
Yes, it’s true. Bitcoin’s supply is aging, with a large portion of supply moving to exchanges that is older than 6 months. It’s not just the retirees converting their savings either, data from CoinMetrics shows a sizable portion of the asset’s supply is at least a year old!
At this rate, Bitcoin could face a real problem soon as an aging crisis, with an increasing portion of it’s supply sitting unnoticed and untraded, slowly draining the liquidity from the market.
What Can We Do To Keep Our Supply from Aging?
Well, the first step is to move your funds from wallets to exchanges. Binance has been a popular choice for many and it makes sense – there’s tons of options for trading, easy withdrawals, and low transaction fees. Here’s a handy checklist of things to keep in mind when moving funds:
- Choose trusted exchanges – look for platforms with solid reputations and good security features.
- Look out for fees – compare fees among different platforms and utilize the exchanges’ own fee structures.
- Track your funds – follow your funds through the blockchain and ensure you’ve got them all in one place.
You can also keep your funds active – by trading and making small transactions frequently you can avoid having your funds sit still and become aged.
The truth is, we can’t stop the aged supply from flowing into exchanges, but we can help mitigate the effects and keep Bitcoin’s supply young and vibrant.
So get up funds while you can – and start trading on Binance today!
