What’s the safest option to hold BTC ?

[dwyane36]

Bitcojn was never intended to be stored on exchanges, the best practice is holding your coin on a noncustodial wallet like electric where you own full possession of your mnemonic seed and access to your coins unlike on exchanges where you are not the holder of the seed phrase. There is a general saying that " not your key not your coin" which means if you're not in full possession of your seed phrase and then you're not the owner of the coin. Just as the name implies exchange, it should be used for that purpose only and not for holding your coins. Some persons even make mistakes of staking their coin in exchanges for a long duration. Without considering the risk you are risking more than you can.

These things are obvious to those who have been in the crypto industry for a long time. However, newcomers who are just beginning to explore cryptocurrencies may naively believe that long-term storage of assets on exchanges is a good idea. Unfortunately, many centralized exchanges take advantage of newcomers' lack of knowledge and advertise their brands by emphasizing security and offering attractive APYs to draw in inexperienced users.

[Mate2237]

Op, not your wallet, not your coins is not a recent statement and it has been on ground for years. Nobody that is well knowledgeable in bitcoin will not advise you to save bitcoin in centralized exchanges though you can use it to buy bitcoin and once you bought it you have to send it transfer them to self custodial wallet for safety purpose.

In the centralized exchange, it is not only hacking that can make one to lost bitcoin but all things which we have discussed before. And such are, account frozen, Blocking and restriction. If you account is suspicious, they will block it and ask you to do verification and if the verification is not accepted then your account is permanently blocked.

[Faisal2202]

Yes, Dear, I contacted the Exchange support that time; they said there will be nothing wrong with your account health, but when I received the recent payment, they opened another RFI request. In the first one, they just asked me from what services I am receiving the payments, but in this one, they are asking for the owner's name of the service provider and the owner's name of the address. Well, while replying to your post, I just noticed one more thing while checking the transaction history: both addresses are different, which is making it more complex for me to understand. Now, mate, what it is, haha, two different addresses from where I received the payment.

Other than that, I have PM'd the manager for this, but I did not mention in the PM that I am receiving the payments from two different addresses because I just came to know about it now while writing the post. Well, till then I am waiting for a response from the manager.

So you are receiving signature payments in exchange, from different addresses well I am also receiving payment on exchange but had no problem at all, It seems the payments are coming from the mixer itself which you know many exchanges do not allow or find bad therefore I suggest you to change the wallet address to either another exchange or some non custodial wallet because now crypto is legal in Pak and legal actions can occur if things went that bad therefore it is best to be on the safer side rather than regretting later.

First, give it a try in another exchange and see if you still receive the same strike there too, if not then use it otherwise use any non custodial wallet that's safer.

[vegasus]

These things are obvious to those who have been in the crypto industry for a long time. However, newcomers who are just beginning to explore cryptocurrencies may naively believe that long-term storage of assets on exchanges is a good idea. Unfortunately, many centralized exchanges take advantage of newcomers' lack of knowledge and advertise their brands by emphasizing security and offering attractive APYs to draw in inexperienced users.

Well, yes, many newcomers are exploited by the stereo platform for their own interests, and do not hesitate to appear like scammers who promise such high promises. The reason is, not all newbies really have good knowledge about crypto before entering this crypto world. Because yes, they are very easy to become victims of such exchanges, and also scammers, or fake platforms. and this happens very often so that it makes these newcomers deterred because they become victims and lose their assets. That's why, newbies are always warned to really have thorough preparation about this crypto knowledge, so that they are not really new and have no knowledge at all.

[SmartGold01]

I like the concept of hardware wallets, and do own one myself, they are generally much safer than software wallets, but they are not risk-free. What puts me off the most is the risk of supply chain attacks. Even if you purchase from reliable source, you still have to trust that manufacturer is honest and that it has proper procedures in place (including controlling employees). There's also a risk of the device getting intercepted and tampered with during the transport.

Still less risks than with any other wallet around available

I have been using software wallet for years now had no problems and even hardware wallet people still uses them depending no how they control their wallets. I have been using Electrum wallet for the past 3 years now if I am not mistakenly and there are no incidence recorded for this period of usage.

Using up electrum wallet since 2016 and just like you said that i didnt have any problems nor having any issues in regarding about vulnerability or some sort. When it comes to personal security in regarding about on keeping your seed phrase safe then this will be the safest thing to do and this is what im doing. I dont have any hardware wallet and i dont have any other things on storing up my Bitcoin but rather i do only have that 3 flash drives on which it is that been stored up into different place but of course those are encrypted. So far after all the years that had been spending then i didnt have any issues or problems about getting hacked or losing up some coins. So i would be sticking into the way on which i do make myself that safer.

Storing seed phrase on drive is actually cool but it should be only handled by you and you should be that exposing your drive to different system or PC by using it to transfer file from place to another because it will be easily gets corrupted since you are moving round to different system. Usually when you get seed phrase generated it's important to print it out to hard copy and save them where none could access it or it's good to store it where you have access alone.

[Mr. Magkaisa]

I like the concept of hardware wallets, and do own one myself, they are generally much safer than software wallets, but they are not risk-free. What puts me off the most is the risk of supply chain attacks. Even if you purchase from reliable source, you still have to trust that manufacturer is honest and that it has proper procedures in place (including controlling employees). There's also a risk of the device getting intercepted and tampered with during the transport.

Still less risks than with any other wallet around available

I have been using software wallet for years now had no problems and even hardware wallet people still uses them depending no how they control their wallets. I have been using Electrum wallet for the past 3 years now if I am not mistakenly and there are no incidence recorded for this period of usage.

Using up electrum wallet since 2016 and just like you said that i didnt have any problems nor having any issues in regarding about vulnerability or some sort. When it comes to personal security in regarding about on keeping your seed phrase safe then this will be the safest thing to do and this is what im doing. I dont have any hardware wallet and i dont have any other things on storing up my Bitcoin but rather i do only have that 3 flash drives on which it is that been stored up into different place but of course those are encrypted. So far after all the years that had been spending then i didnt have any issues or problems about getting hacked or losing up some coins. So i would be sticking into the way on which i do make myself that safer.

Storing seed phrase on drive is actually cool but it should be only handled by you and you should be that exposing your drive to different system or PC by using it to transfer file from place to another because it will be easily gets corrupted since you are moving round to different system. Usually when you get seed phrase generated it's important to print it out to hard copy and save them where none could access it or it's good to store it where you have access alone.

        -     As for me, all I do is use electrum and in addition to this, I also use a flash drive where I save the seed phrase and address I use, as well as the other seeds of the altcoins that I do dca with, the amount is not big but at least I have something in my wallet.

Although I also have a few assets that are in cryptocurrency, the amount is not that big because I do dca through day trade sometimes in spot trading
when I am in the mood to trade.

[SmartGold01]

Storing seed phrase on drive is actually cool but it should be only handled by you and you should be that exposing your drive to different system or PC by using it to transfer file from place to another because it will be easily gets corrupted since you are moving round to different system. Usually when you get seed phrase generated it's important to print it out to hard copy and save them where none could access it or it's good to store it where you have access alone.

        -     As for me, all I do is use electrum and in addition to this, I also use a flash drive where I save the seed phrase and address I use, as well as the other seeds of the altcoins that I do dca with, the amount is not big but at least I have something in my wallet.

Although I also have a few assets that are in cryptocurrency, the amount is not that big because I do dca through day trade sometimes in spot trading
when I am in the mood to trade.

Though most people Love saving their seed phrase on their flash drive but to me if they think it's secured then there's no issues for them to store their seed phrase on flash.
Most times if that flash could be keep away from external devices then it could be safe to store their seed on flash but most times anti virus can swipe off those seed phrase as it could see it as virus.

[dave_strider]

Though most people Love saving their seed phrase on their flash drive but to me if they think it's secured then there's no issues for them to store their seed phrase on flash.
Most times if that flash could be keep away from external devices then it could be safe to store their seed on flash but most times anti virus can swipe off those seed phrase as it could see it as virus.

That's why such a flash should be guarded or hidden from the eyes that can think of it of something ordinary / put to somewhere to suck off its data.

Though, such a scenario is highly unlikely, it's still possible.