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

[0t3p0t]

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.

Correct. We just need to put enough funds for our trading activities in centralized exchanges and then save other funds to non-custodial wallets for safety. CEX are prone to hacking attacks so it is not recommended to save huge amount of funds right there for long term investments you need to diversify or choose the right and safe wallet for your fund to be in your full control.

[therozaq]

Correct. We just need to put enough funds for our trading activities in centralized exchanges and then save other funds to non-custodial wallets for safety. CEX are prone to hacking attacks so it is not recommended to save huge amount of funds right there for long term investments you need to diversify or choose the right and safe wallet for your fund to be in your full control.

agree , don't save huge amount of funds in centralized exchange, although it's reputable exchangem.Better to hold our funds in private wallet.
In CEX we can put enough funds to do trading or just for transaction.

[Aanuoluwatofunmi]

I don't expect any experience bitcoiner to be asking this kind of question that using an exchange or a personal wallet, which is more safe, the right answer to this is in this common slogan of not your keys not your coins, exchanges are like banks, they are in control of your asset including the private keys, this means that of anything happens, your money is gone and cannot be retrieved back from them, but when you're using a non custodial wallet, you are in charge.

[famososMuertos]

...//:::What you guys think?

Well, Bitcoin is premised on decentralization, it is one of its "reasons" of existence, and those same characteristic are intrinsic to your question as an answer.

An exchange is a technology that is used to exchange cryptocurrencies, use it for that.

I read some answers and as incredible as it may seem, there is not a 100% consensus that a wallet (DEX) should be used.

[elbans89]

I don't expect any experience bitcoiner to be asking this kind of question that using an exchange or a personal wallet, which is more safe, the right answer to this is in this common slogan of not your keys not your coins, exchanges are like banks, they are in control of your asset including the private keys, this means that of anything happens, your money is gone and cannot be retrieved back from them, but when you're using a non custodial wallet, you are in charge.

We should choose reputable exchange, I never hear binance has problem about this.
So I think exchange wallet also safer, if we choose reputable exchange. Personal wallet is always good for it.  Which is better ? I think personal wallet is better and safer

[milewilda]

I don't expect any experience bitcoiner to be asking this kind of question that using an exchange or a personal wallet, which is more safe, the right answer to this is in this common slogan of not your keys not your coins, exchanges are like banks, they are in control of your asset including the private keys, this means that of anything happens, your money is gone and cannot be retrieved back from them, but when you're using a non custodial wallet, you are in charge.

We should choose reputable exchange, I never hear binance has problem about this.
So I think exchange wallet also safer, if we choose reputable exchange. Personal wallet is always good for it.  Which is better ? I think personal wallet is better and safer

Nope, i wont really be that still fully confident even if we do speak about those top exchanges like Binance on which no matter how reputable it would be, as long you dont possess your wallet keys then its never been that considered to be safe. We do know that exchangers could neither have those kind of potential problems like hacking incident or having those regulation issues
on which it would be causing for you funds to be locked up or be stolen or whatever it would be and this is something that we dont like to happen.

If you are dealing up with trading then it would be wise that you should really be only putting up only the amount you are really that willing to risk out.
Its always best that you should be storing your coins in a wallet on which you do posess its keys.

[de_prof]

Nope, i wont really be that still fully confident even if we do speak about those top exchanges like Binance on which no matter how reputable it would be, as long you dont possess your wallet keys then its never been that considered to be safe.
~snip~

Me too, I also didn't believe in exchange, although it's the biggest exchange such as Binance , kucoin.
I confident to save our assets in personal wallet,  that I have private key and still keep it.
Don't trust to exchange wallet, if you careless your assets will gone.

[Wiseman]

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.

The main thing is not to trade with high leverage, they drag you down and take you into deception, it's like a casino where you get excitement and a person starts to be sure that everything is available to him and he will win, I hope you do not spend your time like that.)

[Charles-Tim]

We just need to put enough funds for our trading activities in centralized exchanges and then save other funds to non-custodial wallets for safety. CEX are prone to hacking attacks so it is not recommended to save huge amount of funds right there for long term investments you need to diversify or choose the right and safe wallet for your fund to be in your full control.

If you are a trader and you have no option than to leave some money on a centralized exchange for day trading or scalping, it would be better to use more than one exchanges for it. Look for like three reputed exchanges and divide your coins and send it to the three exchanges instead of leaving it on a single exchange. You can even make it more than three exchanges if it is convenient for you. But I may not be totally correct because it is advised that traders should trade with the amount of money that they can afford to lose, so that amount should be little and may not need more than one exchanges because it is an amount of money what the trader can afford to lose.

[Sokani]

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

The fact that it's hasn't happened to you doesn't mean you shouldn't learnt. It's not save to store your asset on CEXs, you could lose it when the exchange gets hacked, go bankrupt or get confiscated by the government. If you're a daily trader, only keep small amount on the exchange for trading purpose, as you keep making profit move part of funds to your personal wallet to avoid stories that touches the heart.

[bitbit97]

I think we can create 1001 topic with similar question, make 1 million posts and would still ask the same question. Until a persons looses money due to hack, exchange scam or any other wallet related issue, he will keep doing things recklessly. We have already mentioned million time golden cryptocurrency rule "your key=your crypto", but people will keep holding their funds on someone's wallets. It is impossible to eradicate people without tears and lost money.

[Primo1760]

Nope, i wont really be that still fully confident even if we do speak about those top exchanges like Binance on which no matter how reputable it would be, as long you dont possess your wallet keys then its never been that considered to be safe.
~snip~

Me too, I also didn't believe in exchange, although it's the biggest exchange such as Binance , kucoin.
I confident to save our assets in personal wallet,  that I have private key and still keep it.
Don't trust to exchange wallet, if you careless your assets will gone.

If you plan to invest and hold for a long time, it is better to use your own wallet. Also if you don't want to hold it for a long time then it would be reasonable for you to use the Binance exchange, Kucoin for trading. Binance exchange Kucoin, security must be taken care of for everyone. If a person is careless everything will be at risk for him.  So always take care to act carefully never act carelessly.

[alltalk]

agree , don't save huge amount of funds in centralized exchange, although it's reputable exchangem.Better to hold our funds in private wallet. In CEX we can put enough funds to do trading or just for transaction.

Yep. It is not recommended to keep big funds or many Bitcoin on CEX. People sometimes put some money for trading in CEX but it won't be saved there for a long time. Although I think it is quite safe to put money in reputable CEX, we are better to keep it a long time in private wallet. For Bitcoin, I prefer to keep it in Segwit wallet, I send again to my Segwit wallet after I finished trading in CEX daily or weekly. We have no full control of the funds we save in CEX wallets.

[pacar_tiri]

The main thing is not to trade with high leverage, they drag you down and take you into deception, it's like a casino where you get excitement and a person starts to be sure that everything is available to him and he will win, I hope you do not spend your time like that.)

In my opinion, trading using leverage is trading that is full of risk, even if you use small or high leverage, because this trading method is like gambling, different from traditional trading, which only relies on price movements and makes a profit when the price rises.

[I-Bit]

I think we can create 1001 topic with similar question, make 1 million posts and would still ask the same question. Until a persons looses money due to hack, exchange scam or any other wallet related issue, he will keep doing things recklessly. We have already mentioned million time golden cryptocurrency rule "your key=your crypto", but people will keep holding their funds on someone's wallets. It is impossible to eradicate people without tears and lost money.

You're right. We already discuss this topic many times. I'm sure most people in this forum are aware to keep their coins and funds with safer places. Storing in the centralized exchanges will never be the right solution. When we send the coins on CEX wallets, we have no full control. We must always realize that saving it to private wallets is the right solution. Well, it is not a must to lose money first, we can learn from other people's experience.