What’s the safest option to hold BTC ?

[CryptoBun]

Following the recent situation surrounding some exchanges, it seems BTC is not safe to be held in CEXs wallet anymore. Take for instance, the recent Bybit hack which happened unexpectedly, billions of Ethereum was moved even though it was able to recover it through reserves and institutional loans.

This would have been another story entirely if the hack had been done to a Bitcoin reserve but in order to avoid future losses, i’ve been curious to know what the safest option to store BTC could be.

[PX-Z]

Following the recent situation surrounding some exchanges, it seems BTC is not safe to be held in CEXs wallet anymore.

It never did, and will never be. Anything that related in crypto holdings must be held on non-custodial wallet on safe environment especially if its yours anything than that will be considered as risky. You should only put your money on CEX for trading and be considered to deposit what you can afford to lose.

[joniboini]

i’ve been curious to know what the safest option to store BTC could be.

If safety is your only concern, why not just store it in your cold wallet? I don't think this concept is alien to most users. Heck, I'm surprised to hear you think storing your Bitcoin on exchange was safe. We have so many hacks/bankruptcy cases that anyone who willingly stores all their wealth on exchange must've never read any crypto news.

Self-custody is not hard to learn and practice. Even if you have a headache trying to prepare for the worst, it's worth it because you can protect your wealth properly. Sadly some people dismiss that for various reasons.

[MrSpasybo]

Following the recent situation surrounding some exchanges, it seems BTC is not safe to be held in CEXs wallet anymore. Take for instance, the recent Bybit hack which happened unexpectedly, billions of Ethereum was moved even though it was able to recover it through reserves and institutional loans.

This would have been another story entirely if the hack had been done to a Bitcoin reserve but in order to avoid future losses, i’ve been curious to know what the safest option to store BTC could be.

It is not difficult to conclude that hardware wallets are the best way to self-custody BTC, however we cannot deny the role of CEXs. Although the amount of BTC on CEXs has decreased sharply to about 2.4M BTC, that is still a huge number to ensure the liquidity of this new asset class.

I myself have not used a hardware wallet, I use Electrum wallet but also store BTC on CEXs for convenient trading when the market has unusual signals. I do not consider CEXs as an absolutely safe place to store BTC, but I am also willing to take a little risk to take advantage of the convenience that CEXs bring in my investment journey.

[Ambatman]

I really found the anymore funny. Like it ever was.
If you looking for security CEX is not the answer but when you need the easy way out and higher liquidity then you can option for CEX.
If you looking for safest they an airgapped cold storage wallet but for convenience I prefer using non custodial wallet like electrum.
But once I get to a certain level I'm going full cold wallet.

[SmartGold01]

Do not leave or store your bitcoin in exchange..
Do not trust exchange they are not reliable..
Download a nonecostodial wallet or HD wallet.
With this your investment are safe and secure..
Do not reveal your secret keys.

[Crypto Library]

Following the recent situation surrounding some exchanges, it seems BTC is not safe to be held in CEXs wallet anymore. Take for instance, the recent Bybit hack which happened unexpectedly, billions of Ethereum was moved even though it was able to recover it through reserves and institutional loans.

This would have been another story entirely if the hack had been done to a Bitcoin reserve but in order to avoid future losses, i’ve been curious to know what the safest option to store BTC could be.

It's actually basic sense that where we put our funds is where we sell the most. In this case, the answer is definitely not centralized exchangers and the ones you mentioned in your post.
Decentralized wallets are the best to hold Bitcoin for long term. Now you can choose any open source wallet to hold Bitcoin. And if you are more concerned about security then I think cold wallets are also available there for you.

[JISAN]

Following the recent situation surrounding some exchanges, it seems BTC is not safe to be held in CEXs wallet anymore. Take for instance, the recent Bybit hack which happened unexpectedly, billions of Ethereum was moved even though it was able to recover it through reserves and institutional loans.

This would have been another story entirely if the hack had been done to a Bitcoin reserve but in order to avoid future losses, i’ve been curious to know what the safest option to store BTC could be.

Why would you keep your bitcoins on a centralized platform if you have the mindset of folding not trading.  No centralized platform is completely trustworthy and even though Binance is the top number 1 CEX, it is not completely trustworthy.  So you always hold your bitcoins in a decentralized wallet or a hardware wallet if you have a large fund. Then you will get full security of your assets and your funds will be completely under your own control

[bitterguy28]

Following the recent situation surrounding some exchanges, it seems BTC is not safe to be held in CEXs wallet anymore. Take for instance, the recent Bybit hack which happened unexpectedly, billions of Ethereum was moved even though it was able to recover it through reserves and institutional loans.

exchanges are not wallets first of all

This would have been another story entirely if the hack had been done to a Bitcoin reserve but in order to avoid future losses, i’ve been curious to know what the safest option to store BTC could be.

i doubt the government would be easily hacked i hope that they will not be stupid enough to store their bitcoins in an exchange surely they will be a lot more secure and hopefully will store their seed phrases in a hardware and hold it somewhere highly protected

the safest option while also being convenient is a wallet i can make transactions and there is no kyc

[rdluffy]

BTC is not safe to be held in CEXs wallet anymore

Never was safe to leave on exchange

I'll resume for you:
Best and safest option is to use a hardware wallet, like Trezor, Ledger etc, there's nothing safest than a hardware wallet to generate your seed offline and secure

If you don't have money to buy a hardware wallet, you can boot a PC or laptop with an OS like Tails, download Electrum, generate your seeds offline, keep offline and you should be fine too, it's a great option

[Mr. Magkaisa]

         -      If you are a long-term holder of the type of investor, it is better to just buy a hardware wallet, or else you can just use non-custodial wallets like Electrum,
or maybe Bluewallet and Unstoppable. But if you are a trader, I think there is nothing wrong with using it to carry out trading activities.

As long as you trust a CEX platform and you know the pros and cons of using these types of platform exchanges, it is difficult to be unaware. And it should really be those who are known and have a good reputation in this field of the crypto business industry.

[0t3p0t]

I personally do not store crypto assets especially Bitcoin on exchanges for long not unless I am gonna use it for trading purposes. Since I have no access to cold wallets, I prefer non-custodial wallets which will give me full control of my funds the only problem is that they are hot wallets but I am aware of what to do to keep my funds safe. CEX for me is not an option given that I don't trust their security because sooner or later they are primary targets of hackers since they are a high value target.

[rdluffy]

I personally do not store crypto assets especially Bitcoin on exchanges for long not unless I am gonna use it for trading purposes. Since I have no access to cold wallets, I prefer non-custodial wallets which will give me full control of my funds the only problem is that they are hot wallets but I am aware of what to do to keep my funds safe. CEX for me is not an option given that I don't trust their security because sooner or later they are primary targets of hackers since they are a high value target.

A nice and cheap way to make a cold wallet is like I said before:

you can boot a PC or laptop with an OS like Tails, download Electrum, generate your seeds offline, keep offline and you should be fine too, it's a great option

You just need a PC or a Laptop

[taufik123]

Never think about storing the main asset on the Exchange for a long period of time,
it is not recommended because a hack can happen at any time.

It doesn't matter if you want to hold Bitcoin, ETH or any other coin that is most important where you store it and whether you have full access to your own assets.

By using a private hardware wallet you have higher security than an exchange and you have full control,
as long as you store the Seed Phrase properly and safely, then your assets will also be safe.

It all depends on the user, if he is careless, then any security can still be penetrated and utilized.

[sampoerna]

When it comes to the safest one to save the assets, CEX or DEX, or online wallets, are definitely not the choice. The best is offline or hardware wallet, non-custodial wallets. The point is, there is a price, there is a form. and not your keys, not your assets. That is the principle that we must apply.

If we choose to go long term, it is better not to exchange or online wallet, it is really risky, from various cyber crimes that sometimes we ourselves are not aware of.

And if we still choose exchange, well, we accept it along with the various risks and pluses and minuses.