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Small-Scale Question Sunday for August 17, 2025

Do you have a dumb question that you're kind of embarrassed to ask in the main thread? Is there something you're just not sure about?

This is your opportunity to ask questions. No question too simple or too silly.

Culture war topics are accepted, and proposals for a better intro post are appreciated.

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As far as I know, Coinbase still allows you to withdraw your coins to your own wallet whenever you want.

Yes, of course. But: this is only while everything is well. At any moment if something goes wrong Coinbase could stop withdrawals, and you can do absolutely nothing about it - short of suing them of course. Just as with the bank: normally, you just transfer money with a couple of clicks, but if the bank has problems, you have problems. Except there's no FDIC for bitcoin, so you're not protected by anything.

Unless your suggestion is that he find some dude to sell him BTC for cash, I dunno how else he would come to acquire the coins in his wallet.

No, acquiring coins through Coinbase is just fine. But then get a self-custodial wallet (I prefer offline hardware ones, but you don't have to go as far if you don't want to, any computing platform can hold a wallet - though do back up it and/or the keys if you use software) and move the funds there. That's what I do when I DCA - it's very convenient to set it up on the exchange, but once it gets to something sizeable that I'd hate to lose, I move it to my custody.