Which is safer to hold your Bitcoin in wallet or Exchanges?

[owlest]

You have pointed out a good thing. I don't know any decentralized exchange that provides on-chain real Bitcoin. All we see is wrapped bitcoin on shitcoin chains. BTC on BNB chain or ETH chain is not Bitcoin anymore. It is considered as altcoin. But, there are some centralized exchanges that do not require KYC prior sign up. Users can buy Bitcoin from these exchanges without compromising their Identity. Also, there are exchanges like agoradesk, localmonero and many more. For those, who are interested to know some non kyc exchanges, you can check https://kycnot.me

Bitcoin exchanges still exist. However, their security is questionable. The question arises: how safe are these exchanges? You may come across a site that does not work or unknowingly purchase grey bitcoins that cannot be sold later.  There are many nuances that need to be taken into account.

[Learn Bitcoin]

Bitcoin exchanges still exist. However, their security is questionable. The question arises: how safe are these exchanges? You may come across a site that does not work or unknowingly purchase grey bitcoins that cannot be sold later.  There are many nuances that need to be taken into account.

I didn't get your question. what exchanges are you talking about? I was talking about some centralized exchanges that do not ask for KYC information. A user can use these platforms to buy Bitcoin. If someone has other cryptocurrencies like ETH or USDT, they can use Fixedfloat or a similar website to exchange them for Bitcoin. You don't have use to any unnamed exchanges. To avoid security issues, you should use known popular exchanges.

What did you mean by grey bitcoins? You are not heading your Bitcoin to a centralized eexchanges which may block you from selling your Bitcoin. if you buy it from exchanges, you can sell it there too. But if you buy Bitcoin from hackers and the address get reported, then exchanges may freeze your account. otherwise, you should be okay.

[mahadev]

OP asked Which is safer to hold your Bitcoin in wallet or Exchanges?
I think wallet is safer than exchange.
But at several that have good reputation, I think It's also safe.
it's my opinion

[ariaryanto]

In my opinion, storing assets that are safe is in a wallet, because in a wallet it is difficult for hackers to hack someone's wallet compared to storing assets on an exchange. If we store our assets on the stock exchange, they will easily hack your account.
It's better to just store assets in a personal wallet and add wallet security to make your wallet more secure.

[Freemind]

OP asked Which is safer to hold your Bitcoin in wallet or Exchanges?
I think wallet is safer than exchange.
But at several that have good reputation, I think It's also safe.
it's my opinion

No. The closest example is FTX. I assume you already know what happened with FTX and the funds deposited in the exchange's wallets. FTX had a very good reputation, they moved billions of dollars daily in trading, they opened new offices, everything was wine and roses until… "No one" knows where the funds are and only a small percentage of all that money has been recovered. Cryptocurrencies are safe in users' wallets, not on exchanges. It is the users' responsibility to protect their coins.

[Learn Bitcoin]

But at several that have good reputation, I think It's also safe.
it's my opinion

Did you mean that exchanges are also safe?
I don't know how they are safe. They do not provide your private key, which means you do not have control over your Bitcoin. You do not have a coin control feature, which you could utilize if you send Bitcoin accidentally to the wrong wallet address. If your email gets hacked, the hacker could access your exchange account as well. So, how do you consider a exchange as a safe option?

Exchanges has many negatives sides. For example, they have some limits when you send your Bitcoin to another address. Usually exchanges charges too much high fees on withdrawals. For example, Binance's minimum withdrawal is 160K satoshi and the withdrawal fee is 70K satoshi. Can you imagine?

[bayiajaib]

I think wallet is safer, because we have our private key and always keep it.
I don't think exchange is safe, never.
Better to hold in your wallet, exchange just for trading and do transactions

[DabsPoorVersion]

OP asked Which is safer to hold your Bitcoin in wallet or Exchanges?
I think wallet is safer than exchange.
But at several that have good reputation, I think It's also safe.
it's my opinion

We always need to know that even if an exchange has a good reputation, it doesn't mean that it is safe to hold your Bitcoin or any other asset you have on it. There are still possibilities or circumstances, like the hacking of the exchange or any other possible scenario that will put your funds at risk. It is always advisable to have a wallet that gives you complete control over your funds, rather than relying on a third party to hold them for you.

[Carbitcoin]

I think wallet is safer, because we have our private key and always keep it.
I don't think exchange is safe, never.
Better to hold in your wallet, exchange just for trading and do transactions

Recently, I have become convinced that it is best to have a wallet that does not have a physical body, this is like Ledger Nano, especially if you live in a country where they can come to your home and confiscate your property , and definitely no wallet on the exchange.

[owlest]

Bitcoin exchanges still exist. However, their security is questionable. The question arises: how safe are these exchanges? You may come across a site that does not work or unknowingly purchase grey bitcoins that cannot be sold later.  There are many nuances that need to be taken into account.

I didn't get your question. what exchanges are you talking about? I was talking about some centralized exchanges that do not ask for KYC information. A user can use these platforms to buy Bitcoin. If someone has other cryptocurrencies like ETH or USDT, they can use Fixedfloat or a similar website to exchange them for Bitcoin. You don't have use to any unnamed exchanges. To avoid security issues, you should use known popular exchanges.

What did you mean by grey bitcoins? You are not heading your Bitcoin to a centralized eexchanges which may block you from selling your Bitcoin. if you buy it from exchanges, you can sell it there too. But if you buy Bitcoin from hackers and the address get reported, then exchanges may freeze your account. otherwise, you should be okay.

My attitude to any centralised exchange, no matter how well known, is more negative in terms of storage. There is always the possibility of funds being blocked for some reason. I've seen reports of users who have had their funds blocked, and now with sanctions in some countries, this is becoming an even more real event.

[Learn Bitcoin]

My attitude to any centralised exchange, no matter how well known, is more negative in terms of storage. There is always the possibility of funds being blocked for some reason. I've seen reports of users who have had their funds blocked, and now with sanctions in some countries, this is becoming an even more real event.

Well, I agree with this part. I have seen users complaining on the internet because Coinbase closed their accounts, froze the money, and wanted some documents. But, I was talking about nonkyc exchanges that never ask for further verifications. Examples could be Localmonero, agoradesk, and Peachitcoin. You can find more websites on kycnot.me.

I never supported centralized exchanges to store your money. I never said that. But the fact is, when you want to buy Real Bitcoin and not some wrapped shit on the alternative chain, you can utilize those exchanges. Right after completing the order, move your coin out of the exchanges.

[Shahinaz]

storing btc on an exchange is very dangerous where there will be a lot of snoopers on your account, anything can be out of control in an instant, for example there are many hacks on exchanges and many more,
storing bitcoins in a personal wallet is 98% safer than in an exchange, only those of us who can store the seed key properly and don't connect it to any exchange or extension

[angrybirdy]

storing btc on an exchange is very dangerous where there will be a lot of snoopers on your account, anything can be out of control in an instant, for example there are many hacks on exchanges and many more,
storing bitcoins in a personal wallet is 98% safer than in an exchange, only those of us who can store the seed key properly and don't connect it to any exchange or extension

That's true, hacking can happen in any exchange, and even the largest exchange has experienced being a victim of hacking. No one ever knows that day will come because users are complacent with the security provided by the exchange. We should know that storing in a personal wallet is safer than in any other exchange. Use the exchange only if you plan to withdraw your funds.

[owlest]

My attitude to any centralised exchange, no matter how well known, is more negative in terms of storage. There is always the possibility of funds being blocked for some reason. I've seen reports of users who have had their funds blocked, and now with sanctions in some countries, this is becoming an even more real event.

Well, I agree with this part. I have seen users complaining on the internet because Coinbase closed their accounts, froze the money, and wanted some documents. But, I was talking about nonkyc exchanges that never ask for further verifications. Examples could be Localmonero, agoradesk, and Peachitcoin. You can find more websites on [urlhttps://kycnot.me]kycnot.me[/url].

I never supported centralized exchanges to store your money. I never said that. But the fact is, when you want to buy Real Bitcoin and not some wrapped shit on the alternative chain, you can utilize those exchanges. Right after completing the order, move your coin out of the exchanges.

Honestly, I haven't had the honour of using such exchanges. I must have fallen behind reality, but there is no need for that now. Perhaps when the price of bitcoin reaches a certain value, there will be a desire to sell some of it. Question: I understand that these are like decentralised exchanges for bitcoin?

[Condorlaib]

My attitude to any centralised exchange, no matter how well known, is more negative in terms of storage. There is always the possibility of funds being blocked for some reason. I've seen reports of users who have had their funds blocked, and now with sanctions in some countries, this is becoming an even more real event.

Well, I agree with this part. I have seen users complaining on the internet because Coinbase closed their accounts, froze the money, and wanted some documents. But, I was talking about nonkyc exchanges that never ask for further verifications. Examples could be Localmonero, agoradesk, and Peachitcoin. You can find more websites on [urlhttps://kycnot.me]kycnot.me[/url].

I never supported centralized exchanges to store your money. I never said that. But the fact is, when you want to buy Real Bitcoin and not some wrapped shit on the alternative chain, you can utilize those exchanges. Right after completing the order, move your coin out of the exchanges.

Honestly, I haven't had the honour of using such exchanges. I must have fallen behind reality, but there is no need for that now. Perhaps when the price of bitcoin reaches a certain value, there will be a desire to sell some of it. Question: I understand that these are like decentralised exchanges for bitcoin?

I just don’t understand why people use such platforms that are unknown to anyone and with which there are always problems due to withdrawal of funds and the like. Of course there should not be a monopoly on the market, but still there are many famous exchanges