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

[Z-tight]

It is impossible to eradicate people without tears and lost money.

There are still people who would lose money to one centralized exchange and still keep some of the crypto they have left in a different centralized exchange, some people hear negative news about the exchange they store their funds, maybe a 'bank run' is looming, but instead of them to move their funds into self custody, they move it to another centralized exchange.

My point is that some people never want to hold the keys to their coins, they want to use BTC like they are using the fiat system, but BTC is about user control and not your keys, not your coins.

[bounceback]

There are still people who would lose money to one centralized exchange and still keep some of the crypto they have left in a different centralized exchange, some people hear negative news about the exchange they store their funds, maybe a 'bank run' is looming, but instead of them to move their funds into self custody, they move it to another centralized exchange.

My point is that some people never want to hold the keys to their coins, they want to use BTC like they are using the fiat system, but BTC is about user control and not your keys, not your coins.

Had experienced with FTX as top 2nd largest or exchange market collapse and many people loss their cryptocurrency assets then frustrated for holding bitcoin in centralized exchange. More safety when holding or saving bitcoin in wallet and has own control without worry with collapse such as an centralized exchange account.
Actually for short term holding put it in exchange wallet because easily for trading than have to hold in wallet and take some fees when sending and withdrawing later, but if hold for long term put it in wallet and don't hold in exchange wallet.

[gunhell16]

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?

It's just like this dude: when it comes to security since you are here in the crypto industry, where do you want to put money? in the bank or the Bitcoin wallet? Or let's simplify the question: What do you like or prefer? Are you in control of your money, or will someone else handle it?

If you have trust in an exchange and you have researched it and found a good reputation, and you have developed trust in an exchange, I think there is no problem with that. As long as you always think about it, you must be aware of the consequences that you may face. Just don't keep too much money.

[therozaq]

If you have trust in an exchange and you have researched it and found a good reputation, and you have developed trust in an exchange, I think there is no problem with that. As long as you always think about it, you must be aware of the consequences that you may face. Just don't keep too much money.

Yeah, If we confident to save our coins in exchange wallet, I think It doesn't matter. Do research before  and I suggest you should choose reputable exchange such as binance.
I read many people here said, there is no problem in binance  about their security.
So we can use it.

[Wiseman]

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 agree with you, but if you do everything right and have a head on your shoulders that understands what you are doing, you can make money on it, but the most important thing is not to consider yourself the smartest and realize that this market is manipulated and it will not always work for you and even elementary placing stops on orders will save you from big losses and a properly developed strategy can bring constant profit.

[0t3p0t]

If you have trust in an exchange and you have researched it and found a good reputation, and you have developed trust in an exchange, I think there is no problem with that. As long as you always think about it, you must be aware of the consequences that you may face. Just don't keep too much money.

Yeah, If we confident to save our coins in exchange wallet, I think It doesn't matter. Do research before  and I suggest you should choose reputable exchange such as binance.
I read many people here said, there is no problem in binance  about their security.
So we can use it.

I will also suggest to check if Binance is ofiicially registered in their respective country so you have this legitimate transactions without having any problems in the long run as we are talking about hodling funds in an exchange. Here in my country the SEC issues 3 months grace period for the said exchange to comply so are now getting ready fo that possible ban. We all know the risk of keeping our funds on exchange so we have to do it at our own risk.

[Kemarit]

If you have trust in an exchange and you have researched it and found a good reputation, and you have developed trust in an exchange, I think there is no problem with that. As long as you always think about it, you must be aware of the consequences that you may face. Just don't keep too much money.

Yeah, If we confident to save our coins in exchange wallet, I think It doesn't matter. Do research before  and I suggest you should choose reputable exchange such as binance.
I read many people here said, there is no problem in binance  about their security.
So we can use it.

Confident to exchange is subjective though. Yeah there are top exchange like Binance you take care of their security, but still there could be exploits that hackers can find and then breach Binance and lost our funds.

I was thinking though that as everyone involved in Bitcoin matured, they might be likely not to put all their funds on their exchanges and would rather have their Bitcoin on a wallet that they have fully controlled.

[Gurujebs]

Had experienced with FTX as top 2nd largest or exchange market collapse and many people loss their cryptocurrency assets then frustrated for holding bitcoin in centralized exchange. More safety when holding or saving bitcoin in wallet and has own control without worry with collapse such as an centralized exchange account.
Actually for short term holding put it in exchange wallet because easily for trading than have to hold in wallet and take some fees when sending and withdrawing later, but if hold for long term put it in wallet and don't hold in exchange wallet.

I didn't loss money to FTX but the tragi history and story behind it will forever be a stain in crypto, we can't forget how a single man single handedly allow billions of dollars to be wasted under a month, it was a painful experience to see how people cry on Twitter about the money they loss.

I have learn that centralized exchanges aren't just safe, they are terrible to use, look at MT.gox exchange that happened many years ago, the affect victims have not seen their money. Now I wonder when FTX victims are going to receive their own money from the collapse that happen last 2 years, nothing positive yet, this is why not your keys, not your coins should be learn very well so as to not become another victim in the future.

[therozaq]

I will also suggest to check if Binance is ofiicially registered in their respective country so you have this legitimate transactions without having any problems in the long run as we are talking about hodling funds in an exchange. Here in my country the SEC issues 3 months grace period for the said exchange to comply so are now getting ready fo that possible ban. We all know the risk of keeping our funds on exchange so we have to do it at our own risk.

I have been a Binance user for 6 years and during that time my funds on Binance are safe, but I don't store large amounts there, only what I use for trading and short-term investments. For the large funds I save, I keep them in my personal wallet. Binance in my country has no problems.

[elbans89]

It is impossible to eradicate people without tears and lost money.

There are still people who would lose money to one centralized exchange and still keep some of the crypto they have left in a different centralized exchange, some people hear negative news about the exchange they store their funds, maybe a 'bank run' is looming, but instead of them to move their funds into self custody, they move it to another centralized exchange.

My point is that some people never want to hold the keys to their coins, they want to use BTC like they are using the fiat system, but BTC is about user control and not your keys, not your coins.

Actually, if we want to store large amounts of assets, don't use an exchange wallet because it is very risky. Betetr use personal wallet if you confident it will safe. But if you are just making sales or purchases, in this case trading, please choose a reputable exchange that is safe.

[IvugeoEvolutionCoin]

Actually, if we want to store large amounts of assets, don't use an exchange wallet because it is very risky. Betetr use personal wallet if you confident it will safe. But if you are just making sales or purchases, in this case trading, please choose a reputable exchange that is safe.

Well, I agree with what you say because so far there are many exchanges that have high risks, and you also need to know that storing assets in private wallets such as Electrum or others certainly does not provide a guarantee of security because the security access that is stored is only a secret phrase and is not equipped. with 2FA, which may be very necessary to increase the security of personal wallets.

[UNIVERSE]

Storing Bitcoin in your own wallet will be much safer than using an exchange wallet. when we have our personal wallets, then we will be much better off sending them to our personal wallet for greater security. On the exchange it is guaranteed, but for long terms, this is not recommended. because after all, keeping it in your own wallet is better, we have a wallet and we can manage it ourselves. It's different when we save it on the exchange, it's like we're just borrowing the wallet.

[taufik123]

Storing Bitcoin in your own wallet will be much safer than using an exchange wallet. when we have our personal wallets, then we will be much better off sending them to our personal wallet for greater security. On the exchange it is guaranteed, but for long terms, this is not recommended. because after all, keeping it in your own wallet is better, we have a wallet and we can manage it ourselves. It's different when we save it on the exchange, it's like we're just borrowing the wallet.

and even safer is to use a hardware wallet that has double security that will secure assets better than mobile wallet applications that are widely used today.
Personal wallets can indeed be controlled by ourselves as wallet owners rather than having to store on Wallet Exchange.

I used Safepal as my first hardware wallet and was also quite satisfied with its security.
Personal wallets will be safer from hacking or draining wallets because there must be confirmation first from the wallet hardware to make transactions.

[DAMKAR]

Storing Bitcoin in your own wallet will be much safer than using an exchange wallet. when we have our personal wallets, then we will be much better off sending them to our personal wallet for greater security. On the exchange it is guaranteed, but for long terms, this is not recommended. because after all, keeping it in your own wallet is better, we have a wallet and we can manage it ourselves. It's different when we save it on the exchange, it's like we're just borrowing the wallet.

I agree with you, for the long term it is better for us to store bitcoin in a personal wallet. it's safer. Meanwhile, for the long term, for example for trading or holding for short terms, we can use a wallet exchange.

[Google+]

I agree with you, for the long term it is better for us to store bitcoin in a personal wallet. it's safer. Meanwhile, for the long term, for example for trading or holding for short terms, we can use a wallet exchange.

Well, with the method you mentioned, I really agree because if you want to grow assets in the form of cryptocurrency, you can directly use an exchange wallet because you can directly buy coins without having to send them from your personal wallet to an exchange, which sometimes has quite expensive transaction fees when the price is low. up transactions on the network becomes very crowded.