I am new to crypto and everything I have done has been strictly through Coinbase. I don't have a key or anything like that.
Is my crypto safe?
What can I do to make it safer?
Everyone talks about keys, what exactly is a key. Where can I purchase one and how does it work.
Thanks and good luck to everyone. I am already up about 22 percent on my investment and extremely happy. I do feel that BTC will go to the moon.
We generally have a saying "not your keys, not your crypto", which means that when you are not holding your private key of the wallet while using coinbase, the bitcoin that you see aren't technically yours, coinbase can go down any day and you can lose all your bitcoins, coinbase is even prone to hacking which means your funds can be hacked too, a simple way to keep your funds with yourself is using a private key wallet, just download a simple wallet like Mycelium wallet on your mobile phone which will give you your private key and your funds are absolutely safe in there, you won't be able to buy sell like coinbase, but you can send receive money at just network fees. You can use Electrum wallet for PC.