Importance of Proof of Keys Day

Promoting Financial Sovereignty:
The primary goal of Proof of Keys Day is to empower investors to reclaim ownership of their cryptocurrencies. By moving assets from exchanges to personal wallets, individuals ensure they have full control over their funds, adhering to the principle of "not your keys, not your coins"

Exposing Exchange Practices:

The event simulates a "run on the bank" scenario, where many users withdraw their funds simultaneously. This can reveal whether exchanges are operating on a fractional reserve basis—holding less cryptocurrency than they owe to customers.

Educating Investors:
Proof of Keys Day also serves as an educational platform for new investors. It emphasizes the importance of understanding how to securely transfer and store cryptocurrencies in non-custodial wallets, thereby enhancing overall security awareness within the crypto community