That might not always be right.
Accessibility is also an important factor
You have many options to store crypto:
‣ Coinbase Wallet
‣ Ledger Nano X
‣ Trezor Model T
‣ MetaMask
‣ Exodus
‣ Mycelium
‣ Atomic Wallet
‣ Electrum
and more...
But how do you know what's the best way to store your crypto?
It really depends on your needs and how you interact with your digital assets.
If you’re looking for top-notch security, hard wallets like Ledger Nano X and Trezor Model T are excellent choices. These devices store your private keys offline, making them virtually immune to hacking.
But, they aren’t the most convenient if you’re frequently trading or accessing your funds.
On the other hand, soft wallets like Trust Wallet, Coinbase Wallet, and MetaMask offer more flexibility.
They allow you to manage your crypto on the go, trade easily, and integrate with various decentralized applications (dApps).
However, since they are online, they come with a slightly higher risk.
WHEN TO KEEP ON EXCHANGES ?
If you’re someone who trades regularly or needs quick access to your assets, keeping your coins on an exchange might be a viable option.
It’s convenient, but be aware that this comes with its own risks, such as potential exchange hacks or the platform freezing your funds.
The key is to find the balance between security and convenience.
For long-term storage, hard wallets are generally recommended.
But for everyday use, a mix of soft wallets and keeping some funds on a trusted exchange could be more practical.
Always assess your needs and consider diversifying how you store your crypto to cover different scenarios.
Let us know where do you prefer having your crypto?
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