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

[Mr. Magkaisa]

          -   In my own opinion, I am using an Electrum wallet, and hopefully, in a few weeks, my hardware wallet will be delivered here in my home. Holding bitcoin on the exchange is too risky; unless it is similar to Binance, the risk is not that high if I compare it to other exchanges.

Now, if you store on an exchange, do so at your own risk, and it also depends on the exchange where you store or hide your Bitcoin. Because that depends on your trust in the exchange platform.

[EthereumDev_]

          -   In my own opinion, I am using an Electrum wallet, and hopefully, in a few weeks, my hardware wallet will be delivered here in my home. Holding bitcoin on the exchange is too risky; unless it is similar to Binance, the risk is not that high if I compare it to other exchanges.

Now, if you store on an exchange, do so at your own risk, and it also depends on the exchange where you store or hide your Bitcoin. Because that depends on your trust in the exchange platform.

If you store assets in hardware then that is a smart choice because as you said, storing assets on an exchange does have a very high risk, even if you realize that electrum wallets on PC can sometimes still be hacked by viruses, so you have to be careful when storing Bitcoin assets because they are very vulnerable to being hacked.

[dekafee79]

          -   In my own opinion, I am using an Electrum wallet, and hopefully, in a few weeks, my hardware wallet will be delivered here in my home. Holding bitcoin on the exchange is too risky; unless it is similar to Binance, the risk is not that high if I compare it to other exchanges.

Now, if you store on an exchange, do so at your own risk, and it also depends on the exchange where you store or hide your Bitcoin. Because that depends on your trust in the exchange platform.

If you store assets in hardware then that is a smart choice because as you said, storing assets on an exchange does have a very high risk, even if you realize that electrum wallets on PC can sometimes still be hacked by viruses, so you have to be careful when storing Bitcoin assets because they are very vulnerable to being hacked.

Actually, a hardware wallet is the safest choice for storing assets. Apart from that, we can use a personal wallet such as a trust wallet or MEW, but we have to be careful about looking after it. Don't use it for random transactions because there are many hackers out there targeting our assets. Exchanges can be used for the short term, if you choose a reputable exchange it is also quite safe for the short term.

[vegasus]

          -   In my own opinion, I am using an Electrum wallet, and hopefully, in a few weeks, my hardware wallet will be delivered here in my home. Holding bitcoin on the exchange is too risky; unless it is similar to Binance, the risk is not that high if I compare it to other exchanges.

Now, if you store on an exchange, do so at your own risk, and it also depends on the exchange where you store or hide your Bitcoin. Because that depends on your trust in the exchange platform.

If you store assets in hardware then that is a smart choice because as you said, storing assets on an exchange does have a very high risk, even if you realize that electrum wallets on PC can sometimes still be hacked by viruses, so you have to be careful when storing Bitcoin assets because they are very vulnerable to being hacked.

Storing assets in a hardware wallet is always the main thing and has the lowest risk,
especially when compared to exchange wallets or other similar online wallets.

But unfortunately, there are still many who, even though they already know about this, still prefer online wallets or even prefer exchange wallets.

One of the reasons, yes, is because if it is already in an exchange wallet, there is no need for a transaction fee for transfers.

This is true, we can save less fees, because we don't need to transfer here and there. Transfer fees are usually big too, right?
But, the problem is, the risk is still high, right?
So, there will definitely be pros and cons, right?

[Wiseman]

Security is sometimes overrated but naturally it is safer to keep bitcoins on a wallet but not everyone does and I'm sure many prefer to profit from holding bitcoin on exchanges in some kind of exchange stacking.

[elbans89]

Security is sometimes overrated but naturally it is safer to keep bitcoins on a wallet but not everyone does and I'm sure many prefer to profit from holding bitcoin on exchanges in some kind of exchange stacking.

Holding bitcoin in an exchange wallet is safe in the short term, but for the long term we should use a personal wallet, as many people here suggest. I agree with this. Sometimes people keep their assets in exchange wallets because they use them for short-term and daily trading.

[Wiseman]

Security is sometimes overrated but naturally it is safer to keep bitcoins on a wallet but not everyone does and I'm sure many prefer to profit from holding bitcoin on exchanges in some kind of exchange stacking.

Holding bitcoin in an exchange wallet is safe in the short term, but for the long term we should use a personal wallet, as many people here suggest. I agree with this. Sometimes people keep their assets in exchange wallets because they use them for short-term and daily trading.

I did not mean short-term holding of bitcoin on exchanges, but long-term, I understand that it is not so safe, but if you look at it from the side of traders, they keep them there all the time and nothing happens to them, and here you can get a profit from stacking on some exchanges where it is possible.

[doc]

I did not mean short-term holding of bitcoin on exchanges, but long-term, I understand that it is not so safe, but if you look at it from the side of traders, they keep them there all the time and nothing happens to them, and here you can get a profit from stacking on some exchanges where it is possible.

Actually, holding bitcoin for the long term is safe, I've done it for two seasons, it's safe. so there is no doubt there, but if anyone is hesitant about holding long term, they can choose short term by trading.

[Google+]

Actually, holding bitcoin for the long term is safe, I've done it for two seasons, it's safe. so there is no doubt there, but if anyone is hesitant about holding long term, they can choose short term by trading.

Yes, of course Bitcoin will still be safe if held for the long term because of the influence of Bitcoin's very limited supply and it has a very large blockchain system so that all transactions are recorded properly. However, this depends on when you entered Bitcoin, if you entered when it was bearish. it is the right step but entering when the price is high doesn't seem good because there is the potential to get trapped at the high price.

[DAMKAR]

Yes, of course Bitcoin will still be safe if held for the long term because of the influence of Bitcoin's very limited supply and it has a very large blockchain system so that all transactions are recorded properly. However, this depends on when you entered Bitcoin, if you entered when it was bearish. it is the right step but entering when the price is high doesn't seem good because there is the potential to get trapped at the high price.

Apart from limited supply, another reason why many investors prefer Bitcoin is that Bitcoin is the most famous and safest to hold. big money owners will have more confidence in King of Crypto currency than other coins.

[MRY]

Apart from limited supply, another reason why many investors prefer Bitcoin is that Bitcoin is the most famous and safest to hold. big money owners will have more confidence in King of Crypto currency than other coins.

Yes, you are right, Bitcoin is already known to many people and many people already store Bitcoin assets in their personal wallets so that the circulation of supply circulating on exchanges is very limited. So that investors know about this opportunity because investors already understand the basic economic formula that has potential in Bitcoin.

[Mr. Magkaisa]

Security is sometimes overrated but naturally it is safer to keep bitcoins on a wallet but not everyone does and I'm sure many prefer to profit from holding bitcoin on exchanges in some kind of exchange stacking.

Holding bitcoin in an exchange wallet is safe in the short term, but for the long term we should use a personal wallet, as many people here suggest. I agree with this. Sometimes people keep their assets in exchange wallets because they use them for short-term and daily trading.

I did not mean short-term holding of bitcoin on exchanges, but long-term, I understand that it is not so safe, but if you look at it from the side of traders, they keep them there all the time and nothing happens to them, and here you can get a profit from stacking on some exchanges where it is possible.

       -    Maybe it's also safe in the exchange; that's why the percentage is not 100%, which means it's like a 50/50 chance that's also secured, but it's not as if it's hard to explain. As long as you really want 100% security, it's really a hardware wallet.

Now, if you feel like it while it's held in your wallet and some of your holdings you want to use for day trading, you can do it, just as mentioned before, but do it at your own risk.

[Alston Liu]

Cold wallet might be the answer?

[Uruhara]

Cold wallet might be the answer?

Although the answer is relative. But yeah, this is the answer that I think most people, including me, agree with. And actually Hot wallets can also be quite safe as long as we also know what things we should avoid so that our wallets remain safe. And most beginners even lose crypto in their wallets because they don't even know about token phishing or dusting attacks and such. So the safest thing is that we also have to know the steps in securing the wallet itself.

[elbans89]

Cold wallet might be the answer?

Although the answer is relative. But yeah, this is the answer that I think most people, including me, agree with. And actually Hot wallets can also be quite safe as long as we also know what things we should avoid so that our wallets remain safe. And most beginners even lose crypto in their wallets because they don't even know about token phishing or dusting attacks and such. So the safest thing is that we also have to know the steps in securing the wallet itself.

Hot wallets are quite safe if we choose a reputable exchange and we should always avoid scammers and hackers, who promote phishing. In the short term, hot wallets are quite safe for me. But it is not recommended for the long term.