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

[LUCKMCFLY]

The reason why I brought this topic up is that most people buy and store their Btc on centralized exchanges, To I don't think  it that safe even when some benefits are attached to it While wallet is not also safe concerning the way you store your security seed phrase. But when come to hacking to me I think wallet is safer though

What you guys think?

Having assets under our own control will be much more reliable in this case. In terms of security, it actually has its own risks. But saving bitcoins in a personal wallet can make us calmer and less worried. This is different from storing assets on the stock exchange which will only make us afraid when there is negative news regarding the stock exchange we use. In fact, the FTX case is enough of a lesson for us so that we all store assets in our personal wallets.

I very much agree with you, what happened with ftx is for everyone to open their eyes, and do things right, as long as it is about Bicoin and our money, if it is not under our private keys it is not our money, that's why when We are in any event we can say that when we are with our money in an Exchange, because if it happens like in Binance that when they bring the rulers to their knees, and any type of police in the countries, then they don't make sense, because they You see, the first thing they do is block all the Peroans who are from that country and they didn't tell them to take money and that's what they do to all of them, just to investigate 1 or 2, so to me that doesn't make sense, that's their place. that all the time has a lot of attribution to the governments, police, government entities of the countries, and that does not work with me.

So our money? Only when we have the Private keys to our Wallets and the money is well Recorded, the rest is not our Money.

[Baofeng]

The reason why I brought this topic up is that most people buy and store their Btc on centralized exchanges, To I don't think  it that safe even when some benefits are attached to it While wallet is not also safe concerning the way you store your security seed phrase. But when come to hacking to me I think wallet is safer though

What you guys think?

Having assets under our own control will be much more reliable in this case. In terms of security, it actually has its own risks. But saving bitcoins in a personal wallet can make us calmer and less worried. This is different from storing assets on the stock exchange which will only make us afraid when there is negative news regarding the stock exchange we use. In fact, the FTX case is enough of a lesson for us so that we all store assets in our personal wallets.

Yes, that is a classic example on why we shouldn't hold funds or bitcoin in exchange because once it collapse or do a exit scam, it will be over for us. The thing though is that when we hold our own coins, we should also be wary on how to protect it. So it's important to learn and practice security first like buying hardware wallet to store our bitcoins.

Just remember though, be our own back, and not your keys not your coins. We can't stressed this enough for bitcoin enthusiast. We don't want to be the next victim or hacks and exit scams.

[bitterguy28]

The reason why I brought this topic up is that most people buy and store their Btc on centralized exchanges, To I don't think  it that safe even when some benefits are attached to it While wallet is not also safe concerning the way you store your security seed phrase. But when come to hacking to me I think wallet is safer though

What you guys think?

The safest is off line wallet or cold storages , you can use Nano Ledger or other stuffs similar to that, there is also Safe Pal wallet that has safe wallet providing as long as decentralized exchange or has those option to have you handling your key and not them.

[MVL~$]

Security of your money is very important for any type of investment or holding besides bitcoin investment. Because it is most important for every person to preserve his wealth. Be it Bitcoin investment or any other investment. I'd say you better be careful with whatever wallet you use. Do not save wallet key or anything online. If possible, you can leave the passwords in a note saved by yourself. And if you need to be more careful then you can use hardware wallet but it is more expensive.

[Z-tight]

Not your keys, not your coins, if your funds is in the custody of any centralized service and you don't control the keys, the funds is not yours, and that service can either get hacked or confiscate your funds for any reason. Store your funds only in self custodial wallets, and even when you do so it does not mean your money is automatically safe, your funds are only as safe as the device you store it in, so ensure you either use an airgapped or hardware wallet.

[Litzki1990]

I have already read some of these related posts and have shared my views in those earlier posts. The main purpose of investing and holding the investment for a long period of time is to make a profit, if the amount of our profit goes to the transaction fee, then there is no profit in the investment. Before investing first we need to be sure whether we are going to invest consistently or with a huge amount of money. Mobile wallets can be used if investing with very large amounts of money but exchange wallets must be used if there is a plan to invest consistently. An investor does not have to pay additional transaction fees as a result of using an exchange wallet.

[Bitcoin_people]

There can certainly be a risk for a person when he puts his bitcoins on Centalise exchange. I think keeping btc in satellite exchanges is very risky and not safe we have seen many exchanges scammed and many lost their money. That's why it is safest and secure to keep the money in a hardware wallet or software wallet rather than in an exchange. So when you invest BTC you must keep those fractions in a secure wallet rather than in an exchange but one that will be safe for your money.

[Hamza2424]

The reason why I brought this topic up is that most people buy and store their Btc on centralized exchanges, To I don't think  it that safe even when some benefits are attached to it While wallet is not also safe concerning the way you store your security seed phrase. But when come to hacking to me I think wallet is safer though

What you guys think?

Hmm from wallet what do you mean dear, do you mean non-custodial wallets, I was just kidding but it was not clear in the title so I thought why not ask, anyway if you are a decent amount holder you should go for the non-custodial wallets bro, if you are holding fewer funds to avoid the networks fees nd other costs dear you should hold on the centralized exchange but be very careful while choosing a reliable platform.

[Freemind]

There can certainly be a risk for a person when he puts his bitcoins on Centalise exchange. I think keeping btc in satellite exchanges is very risky and not safe we have seen many exchanges scammed and many lost their money. That's why it is safest and secure to keep the money in a hardware wallet or software wallet rather than in an exchange. So when you invest BTC you must keep those fractions in a secure wallet rather than in an exchange but one that will be safe for your money.

Of course there is a risk, and that risk would be the possibility of losing our coins/tokens. When we leave our cryptocurrencies in an exchange it is like leaving our wallet in a bank. They can suffer cyberattacks and lose all funds, they can disappear (FTX is a clear example) and they can also be intervened by governments with the consequent problems that this would create for the legitimate owners of these cryptocurrencies. The words "maximum security" or "military-grade security" do not avoid anything I have said.

[JunaidAzizi]

Yeah if you store your BTC in the exchange are more vulnerable to hackers as compared to the wallet, because wallets are more secure than exchanges but one thing you should remember while using an online wallet because an online wallet is also easy for hackers to penetrate and steal your BTC. One other thing In the wallet is very necessary and is the safeguard of the seed if you save your seed in a place where there is no threat then your wallet is safer and if you place it and forget then you will lose your Bitcoin by your stupidity. So long story short offline wallet is the best choice.

[Amphenomenon]

The reason why I brought this topic up is that most people buy and store their Btc on centralized exchanges, To I don't think  it that safe even when some benefits are attached to it While wallet is not also safe concerning the way you store your security seed phrase. But when come to hacking to me I think wallet is safer though

What you guys think?

Having assets under our own control will be much more reliable in this case. In terms of security, it actually has its own risks. But saving bitcoins in a personal wallet can make us calmer and less worried. This is different from storing assets on the stock exchange which will only make us afraid when there is negative news regarding the stock exchange we use. In fact, the FTX case is enough of a lesson for us so that we all store assets in our personal wallets.

Yes, that is a classic example on why we shouldn't hold funds or bitcoin in exchange because once it collapse or do a exit scam, it will be over for us. The thing though is that when we hold our own coins, we should also be wary on how to protect it. So it's important to learn and practice security first like buying hardware wallet to store our bitcoins.

Just remember though, be our own back, and not your keys not your coins. We can't stressed this enough for bitcoin enthusiast. We don't want to be the next victim or hacks and exit scams.

There have always been alot of reasons not to save your bitcoin or any coin on CEX but I guess 2022 made it crystal clear for everyone aside FTX alot of other exchanges crashes while most of them was because their funds were still with FTX.
 You can keep little amount of bitcoin or coins you use daily on but never make that mistake of thinking CEX is a safe place to store your coins. While the best means of storing your bitcoin or any other coin is using hardware wallet, it should be noted that using trusted hardware wallet doesn't make your coins 100% safe and secure, you make them 100% safe and secure by the ways you protect and secure the wallets.
Never forget this phrase not your key not your coins

[Litzki1990]

There can certainly be a risk for a person when he puts his bitcoins on Centalise exchange. I think keeping btc in satellite exchanges is very risky and not safe we have seen many exchanges scammed and many lost their money. That's why it is safest and secure to keep the money in a hardware wallet or software wallet rather than in an exchange. So when you invest BTC you must keep those fractions in a secure wallet rather than in an exchange but one that will be safe for your money.

We think that keeping money in exchange is risky, but most investors keep their money in exchange. If you are a Bitcoin investor and you have invested in the DCA method then you must use an exchange. Whenever you want to invest using any wallet other than exchange wallet you have to pay extra transaction fees which is never good for a DCA investor. Just because some exchanges have cheated users doesn't mean all exchanges will cheat users. We have to trust some exchange to do our jobs. If the investor's plan is to invest a large sum of money together, he can use any other wallet, but to invest in the DCA method, he must use an exchange wallet.

[bounceback]

Talking about which one safe to hold bitcoin in wallet or exchange keep memorize "not your key is not your coins", when you hold cryptocurrency assets in exchange wallet your coins safety depend on third party as exchange controlling will that exchange have good and trust reputation until for longer time or not? but difference position when you hold assets in wallet and you have own controlling with your key until how many long with hold keep secure with your assets.
Have bad side when saving assets exactly with bitcoin in wallet, due high transaction with bitcoin sending, required longer time for sending bitcoin to other wallet when converting to be fiat or cash.

[Captain Corporate]

Most people say that it is clear that you need to end up with some wallet, but I never really trusted that personally, I do not think that it makes sense in that regard. Obviously you could do it if you want to, but that doesn't mean that you should, it doesn't work that way. I personally believe that we are going to end up with a situation that has to change in the end, and that doesn't mean that we are going to profit from it. I know that its going to be a big deal eventually, but for that to change, we need to just focus on why exchanges are better. I think if you pick a place like coinbase or binance, that is better than a wallet.

[Gurujebs]

There can certainly be a risk for a person when he puts his bitcoins on Centalise exchange. I think keeping btc in satellite exchanges is very risky and not safe we have seen many exchanges scammed and many lost their money. That's why it is safest and secure to keep the money in a hardware wallet or software wallet rather than in an exchange. So when you invest BTC you must keep those fractions in a secure wallet rather than in an exchange but one that will be safe for your money.

People have bad orientation about bitcoin that is why exchange custodial practice remain the same, it is even increasing as more number of people come in to crypto and it's scary to see that people want to do crypto but don't want to learn the basis of security. Putting coin on a centralized exchanges is like building a house and then you now have your key to a someome you think you can trust so they can help you take care of it but you don't know much about them and if they sell it and run away, you can do much about it.

The best place to keep your Bitcoin remain non custodial wallets, like Electrum, bitcoin core, Blue wallet and any other hardware wallet and should be brought in a reputable place to avoid pre-installation of seed phrase and private keys.