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And amazingly, out of this five options, and out of the over 700 people that voted, the majority, at 32 percent said they store their bitcoin on exchanges, while 28 percent said they store bitcoin in a hardware wallet, 9 percent store their bitcoin in a software wallet, 15 percent said they use a combination of methods to store their bitcoin, and 16 percent said they don't own any bitcoin yet - this data is at the time of writing this post.
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So, I kind of find it amazing that, with the whole campaign of NOT YOUR KEYS, NOT YOUR CRYPTO, bitcoin investors still trust centralized exchanges enough to hold their bitcoins in there, forgetting all the previous incidents where an exchange gets hacked, and investors lose all their funds..
I ask you the same question, where do you store your bitcoin?
Well, investors always want to earn anything in the easiest way possible, and what's the way to do it? Keeping their Bitcoins on a Centralized exchange because of the "Earn" feature that gives them more coins when they store them there. That's I think the reason why 32% of those who voted prefer storing it on a Centralized Exchange. They can't earn anything aside from capital appreciation if they store it on a hardware wallet.
Well, 700 voters is a small size compared to how many people are involved in crypto, but you can already see that there are still many people who prefer storing their coins on an exchange rather than keeping them safer and storing them on a hardware wallet. I, myself don't own a hardware wallet, but I don't store it on an exchange either. Well, I guess those who are storing their Bitcoins on an exchange like Binance have thinking "The exchange will not get hacked." which is ridiculous, but can't blame them as well.
I always say in the past that people will only learn when they experience it. Let them experience, and there will be a time when they will realize that their decisions are wrong.