Trying to weigh up where to store coin Leave a comment

Would appreciate any thoughts…I see lots of conflicting things with people arguing for and against everything and I guess each has benefits but I want to know if there is a best or if its just subjective. (For hodling to make it simpler)

Keeping coins on an exchange: Not your keys not your coin Helpless if account or exchange is compromised More convenient for quickly buying and/or selling Reasonably safe despite this Don’t have to buy a wallet (insignificant with large amounts though) Don’t have to pay fees for transferring because you’re not (again pretty insignificant)

Hot wallet: Better than an exchange but connected to internet so still liable to attacks but far less so

Using a cold wallet: Ledger security issues incredibly dangerous if people know where you live Always chance you lose seed Someone could find seed or steal your wallet You have the keys so no worry about exchanges collapsing or your account getting hacked.

Staking: Not your keys not your coin but you earn btc for owning btc

submitted by /u/chocojuice1
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Trying to weigh up where to store coin

from Bitcoin – The Currency of the Internet

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