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

[kulkhan]

OP,

There is no debate about it. Because we all know that exchanges do not provide you the private key to your Bitcoin. You are depositing your bitcoin in exchange means the money is their asset. It's not yours until you transfer it to your own wallet. You cannot control your Bitcoin if you keep it in exchanges. You rmembered me a meme

Really agree with you, Because when we sending our Bitcoin on exchanger wallet then it is their asset, Because they Don't providing private key. But we know when we transferring bitcoin on my wallet then it is very safe.

I think many people understand and think wallet is safe. And huge people using own wallet. And this wallet is too much  secure and safe.

[alltalk]

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.

Yep. It is actually not really clear, it is custodial or non-custodial. There are also some type of wallets, we have software wallets, hardware wallets, or paper wallets. OP didn't refer to a specific wallet on the thread. However, I think the private wallet is safe as long as we can fully control our assets there. So, I assume it should be non-custodial wallets.

I also did it, few of my coins to save in CEX because sometimes I need to convert to fiats soon. However, it is not a large number of coins to keep in CEX wallets. We must choose non-custodial wallets for keeping big number of coins.


Take a look https://www.tastylive.com/concepts-strategies/types-of-crypto-wallets

[Papusha20]

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?

If investing in Bitcoin, you can certainly choose between free software wallets. Centralized exchanges are not safe for storing bitcoins, since bitcoins are held for a long time so you can use personal wallets. Using a private wallet will keep your bitcoins safe and stored there for a long time. You can choose any of these wallets like Electrum Wallet, Mycelium Wallet and Bitcoin Wallet and keep your Bitcoin safe here.

[legend45]

If investing in Bitcoin, you can certainly choose between free software wallets. Centralized exchanges are not safe for storing bitcoins, since bitcoins are held for a long time so you can use personal wallets. Using a private wallet will keep your bitcoins safe and stored there for a long time. You can choose any of these wallets like Electrum Wallet, Mycelium Wallet and Bitcoin Wallet and keep your Bitcoin safe here.

Yep, private wallet is better and safer to keep our bitcoin, if we want to hold for long term. Don't safe your bitcoin in exchange wallet for long term, except you do trading there.
I have read many opinions above , they suggest to invest in private wallet.
I agree with this.

[dekafee79]

If you're a trader you can safe your bitcoin in exchange wallet. But If you are a holder which have plan to hold for long term , don't put your bitcoin in wallet exchange. It's my friend advice and until now I always remember it.

[Jamal Aezaz]

Security of your money is very important for any type of investment or holding besides bitcoin investment.

True that's why you can't entrust your holding on a CEX exchange. always prefer a Non custodial wallet of which you have full control. keys and phrases.
Some exchanges aer good for holding small amount of funds. I would say anything more than  $10k should be store in your own wallet. less than $10k which you also use for trading, can be kept in a trusted exchange.

[Z-tight]

I think many people understand and think wallet is safe. And huge people using own wallet. And this wallet is too much  secure and safe.

Take note that just because you are using your own self custodial wallet does not mean that it is safe and secure, there are also self custodial closed source wallets that people use, and they are not recommended, i.e. Atomic wallet, Trust wallet, etc.

Even if you are using a wallet that gives you your keys, ensure it is a well reviewed and open source wallet, i.e. Electrum, BlueWallet, Sparrow wallet, Passport, etc.

[milewilda]

Security of your money is very important for any type of investment or holding besides bitcoin investment.

True that's why you can't entrust your holding on a CEX exchange. always prefer a Non custodial wallet of which you have full control. keys and phrases.
Some exchanges aer good for holding small amount of funds. I would say anything more than  $10k should be store in your own wallet. less than $10k which you also use for trading, can be kept in a trusted exchange.

We do have that one of the main golden rules in crypto space.

"Not your keys, Not your coins"

This is something that we should really be having in mind and this is one of the primary rules on this crypto space.
If you are really that mindful when it comes to security then this would be the best way on doing such thing. When it comes to Bitcoin wallet then i do only trust Electrum.
I dont have even trust with those Hardware wallets on which we do have those exploit issues. How much more on storing up your coins
on an exchange? it isnt something that would really be that recommended.

[LogitechMouse]

~
What you guys think?

Many always say that you should not ever, ever store your Bitcoin in Centralized Exchanges because every CEX is prone to hacking, and your assets might be lost once the exchange gets hacked. For this reason, I always store my Bitcoin in a wallet that I have control with like Electrum, and it has been working pretty fine for me. No issues whatsoever.

However, some investors are still storing their Bitcoins in CEXes. I don't know the exact reason, but one thing that I know is that they are storing it there so that if the time comes that they need to sell it, they can just sell it immediately, and not wait for too long before it goes to their exchange accounts. Maybe another reason is that there are CEXes that have this feature where you can earn whenever you store BTC on their exchange, and since there is no other way for us to earn more Bitcoin aside from putting it on exchanges, investors are taking advantage of it.

Overall, it all depends on the preference of the investor. As long as they are aware of the risks of storing their BTC on the exchange then that's fine. Our Bitcoin is safer when we put it on a non-custodial wallet, but some want to maximize their gains thus, storing it on CEXes.

[pacar_tiri]

Security of your money is very important for any type of investment or holding besides bitcoin investment.

True that's why you can't entrust your holding on a CEX exchange. always prefer a Non custodial wallet of which you have full control. keys and phrases.
Some exchanges aer good for holding small amount of funds. I would say anything more than  $10k should be store in your own wallet. less than $10k which you also use for trading, can be kept in a trusted exchange.

It is commonplace that when you get a CEX, you don't have a very large amount of Bitcoin. Therefore,  it is very risky when storing assets in the form of BTC on a CEX. It is better to store Bitcoin assets in an Electrum wallet or another whose security is maintained by yourself, and of course you can save as much BTC as you have.

[Wiseman]

It is commonplace that when you get a CEX, you don't have a very large amount of Bitcoin. Therefore,  it is very risky when storing assets in the form of BTC on a CEX. It is better to store Bitcoin assets in an Electrum wallet or another whose security is maintained by yourself, and of course you can save as much BTC as you have.

People every day trade on these exchanges millions of dollars and no one is not worried, I will say this, if you want to multiply then keep on the exchange, in stacking or trade on them, it does not matter, the main thing that they will bring you profit.

[DAMKAR]

It is commonplace that when you get a CEX, you don't have a very large amount of Bitcoin. Therefore,  it is very risky when storing assets in the form of BTC on a CEX. It is better to store Bitcoin assets in an Electrum wallet or another whose security is maintained by yourself, and of course you can save as much BTC as you have.

People every day trade on these exchanges millions of dollars and no one is not worried, I will say this, if you want to multiply then keep on the exchange, in stacking or trade on them, it does not matter, the main thing that they will bring you profit.

No worries about reputable exchange, because millions dollars there every second and we don't hear about wallet case.
Put assets in reputable exchange , I think It's safe. But don't put along time on there. It's just suggestions from several friends, but I still put my assets there and until now, no matter

[IvugeoEvolutionCoin]

No worries about reputable exchange, because millions dollars there every second and we don't hear about wallet case.
Put assets in reputable exchange , I think It's safe. But don't put along time on there. It's just suggestions from several friends, but I still put my assets there and until now, no matter

When you put your wallet on the exchange, at the moment it is not a problem, but when the exchange experiences problems, such as several external exchanges, for example Cryptopia, MTgox, and several other exchanges that are affected by cases, causing all traders' assets to be locked, they cannot be withdrawn, and you no longer have the right to withdraw your assets, it is better to store assets in a wallet like Electrum, or if you have altcoins, a ledger could be another option.

[Wiseman]

No worries about reputable exchange, because millions dollars there every second and we don't hear about wallet case.
Put assets in reputable exchange , I think It's safe. But don't put along time on there. It's just suggestions from several friends, but I still put my assets there and until now, no matter

When you put your wallet on the exchange, at the moment it is not a problem, but when the exchange experiences problems, such as several external exchanges, for example Cryptopia, MTgox, and several other exchanges that are affected by cases, causing all traders' assets to be locked, they cannot be withdrawn, and you no longer have the right to withdraw your assets, it is better to store assets in a wallet like Electrum, or if you have altcoins, a ledger could be another option.

Without a little risk here is not how, I understand that it is better not to do so, but when we are talking about earning money, it is necessary to take risks, of course it is ideal to be a trader and trade on decentralized exchanges, but it is not always possible.

[Doctor]

Without a little risk here is not how, I understand that it is better not to do so, but when we are talking about earning money, it is necessary to take risks, of course it is ideal to be a trader and trade on decentralized exchanges, but it is not always possible.

Absolutely yes, If we want to earn money we must take risks.
I used wallet exchange because I do daily trading, But we should choose reputable exchange such as binance and several local exchange in my country.
I didn't put big money there, just for trading.