How to Delete your Blockchain Account!
Tired of Solana being down, ETH transaction fee's going to ridiculous heights, or finding out another protocol got hacked?
We've all been there before...
However, if you are truly trying to get rid of your blockchain account's continue reading the article below.
Can you delete your blockchain account?
Unfortunately, you cannot delete your account.
Although, you can transfer all your digital assets to any exchange you want and hold your crypto there. Your blockchain activity associated with your wallet, for example Metamask will always be on the blockchain, and will never be erased.
Does your blockchain activity matter?
No, however, it's extremely important you don't go around dropping your primary wallet's address which will look something similar like this: 0xD2471c25889F51B60a34A3c6e730C5D9d6002ee3 (random wallet I found on the Ethereum blockchain.)
It's important to keep your wallet address private as good security practice.
Do you really want to allow anyone to know how much crypto you own?
Why should you move funds to an Exchange?
Moving funds to an exchange allows you to clear your blockchain identity and give you options on what you want to do. For example, once you move funds over, you can move them out to a new wallet to get rid of all the previous activity.
This is very helpful if you are concerned with your address being released by hacks or you posted your address on social media by accident.
Either way, you are now prepared with the knowledge to go ahead and choose what you want to do.
Before moving your funds to an exchange you need to check to see if your exchange will allow you to receive Bitcoin or Ether. The reason is due to geographical restrictions. For example, in the United States, we cannot use FTX.com, but we can use FTX.us to send or receive Bitcoin or other cryptocurrencies.
Usually these crypto exchanges will automatically determine the methods you can send or receive tokens.
They'll also determine whether or not you are eligible to use that platform.
Make sure your account information is up to date. If it isn't, click the create or edit account button to fix this information.
In some cases you may have to write an email to support to edit account information or to fix an online application.
Closing your account
Now this is if you are having trouble with an exchange or you want to lower your possible security risk.
Usually the standard method of closing a crypto exchange account is by composing an email and sending it to support.
Related: How to close Crypto.com account!
When you close your account you will no longer have access to the crypto stored on that platform.
Make sure you withdraw ALL crypto before closing your account, you don't want to lose any precious crypto!
In some cases it maybe better to just exchange your cryptocurrency to something cheaper due to transaction fees.
Withdrawal Fees
Every platform has withdrawal fees, but if you are using some of the newer exchanges like FTX or Crypto.com, you will be able to withdraw to cheap alternative chains like Arbitrum or Optimism. Transfer fees are usually below a dollar.
Once you withdraw to a new wallet you are free to do as you please.
You will also be using a clean new wallet with NO blockchain activity, very useful!
Should you close your blockchain account?
This space is still growing daily with new protocols and applications. It's similar to the internet boom in the 2000's!
The question you should be asking, how long are you willing to wait for mass adoption?
I hope you enjoyed the article, see you in the next one!
-M
I am not a investment professional, before buying or selling digital assets, you should contact your investment manager.
Disclosure: The affiliate links in the article may provide a commission.