Hi,
I have my ZIL and ETH in Binance exchange.
Read somewhere that I should never keep my crypto solely on exchange.
Do I need (should) keep the cryptos in other wallet like MTW or MyCrypto? Will my balance on exchange become zero if I move? I am not sure about the procedure of that.
Would be thankful if someone guides on this.
Kind regards,
Rizwan
you have to store in an offline wallet like nano ledger or trezzor, this has several possibilities including
1. Exchange is vulnerable to being hacked at any time and your assets can be lost
2, security oflline wallet such as nano ledger, only you can control
so why should you store on an exchange when there is an offline wallet which is safer and more private