The person who holds this private key holds ownership. In cases where we use various wallets and exchanges to store our crypto tokens, this private key is with them. We just have access to those tokens via a username/email id and password to that wallet or exchange. This is risky since the ownership is not with us. Most of the times the exchange wallets are on the internet and such wallets are called Hot wallets. Hot wallets pose a maximum security risk since they are connected to the public internet while those stored no a “cold wallet” are not.

best ways to keep cryptocurrencies safe

1. Safety from Phishing Scams
The most common kind of scam is a phishing scam where a hacker sends emails or directs the user somehow to a fake site where the user enters their password. This password is received by the hacker. Be careful of the sites you open, check their security certificate and do not open emails from unknown sources.

2. Keep your device safe
Another common method of hacking is to install some kind of malware on your phone or computer and then steal sensitive data as it is being entered by the user. The device that you use for trading cryptocurrencies should be kept free of any kind of unknown programs and with an anti-virus at all times.

3. Keep private keys with you / Do not store on exchanges
Do not store your crypto tokens on exchanges. They get hacked all the time. Centralized exchanges do not provide you with your private keys. This means the crypto is stored in their wallets – hot or cold. And if they were to get hacked, you lose your tokens.

4. Enable two-factor authentication
5. Avoid public Wi-Fi

Read the complete article here: https://coinswitch.co/news/10-best-ways-to-keep-your-cryptocurrencies-safe-in-2019