Post
Topic
Board Bitcoin Wallet for Android
Re: Best wallet for Android?
by
Charles-Tim
on 26/10/2021, 20:33:05 UTC
-snip- I switched to using a bitcoin wallet from an exchange that came from my country, until now it is still safe.
The wallet provided by the exchange is not entirely yours because you do not own the wallet's private key. Use it as needed for trading purposes does not as a main wallet in the long term.
This is one thing about people that do not have in-depth knowledge about what bitcoin wallets are generally are, some people do not know that t is not their key, they do not know what seed phrase is or private key all because they are basically using exchanges instead of noncustododial wallet.

All they like to comment is that 'thet have been using the wallet for long period of time', that the wallet is good, reliable and reputed, but not knowing they do not have full control over their own coin, and not only that, but also exchanges can be hacked especially data breaches.