no different from you, I personally use exchanges only to convert to fiat. besides that most of the crypto I keep in the hardware wallet. and some at multiwallet. because 90% of security is in yourself. if in exchange, I don't believe that. so, thank you, you've shared your experience in storing crypto assets.
Yes, Hardware wallets are the most secure way to store your coins. As through hardware wallet coins are stored in offline status, there is no way they can be hacked.
Hack and Hacks, every day I am waking up to the news of crypto exchanges getting hacked, recently a crypto exchanges founder died and he seem to have a hold of
$190 million worth of BitCoins with him.I have taken a pledge of never using a custodial exchanges, even if it is Binance, and not matter how much CZ says that he will keep the cryptos SAFU, I am not doing the mistake of keeping my money at stake.
I did a detailed study of what exchanges to use and what wallets to use -
- Exchanges - Instant exchanges only, Changelly, ChangeNow, CoinSwitch etc.
- Wallets - Divided into two parts - Ledger NANO S for long term investment, and keeping the funds safe, MultiCurrency wallet for trading, ex - Gaurda Wallet, Exodus Wallet
Let me know what you guys think.
Exchanges are not preferable in storing bitcoins. Always note that the exchanges are more vulnerable to hackers than bitcoin wallet. We should only store our bitcoins in a safe bitcoin wallet for us to guarantee that no one can stole our bitcoins.
Recently cryptopia exchange was hacked and many people lost their money. I think we should always move our funds from exchanges after doing trading. If we want to trade again, we should again move fund back in exchange. Although it is tiresome to move fund back and forth the exchange but it is more secure.