Dear newbies, please treat exchanges, such as Binance, KuCoin, Kraken, Huobi, OKX, and Coinbase, as marketplaces. What do I mean? Just as you do not leave your goods on the market after you have paid for them, you take them home with you. Consider your coins as the goods you bought at the marketplace. Your bitcoins should only be stored in cold storage wallets after purchase, and transferred out when you want to sell them. It takes less than 10 minutes. Remember, if you don't have the keys, it's not your coins.
This is an important update for everyone it just newbies might not really understand what this means. Some persons do find it easy to keep coins on an exchange due to so many reasons which include easy to sell, Less swapping fee, staking, mining and some many others. It is obviously not advised for us to keep our coin on an exchange but sometimes we are always tempted to do that when we can bear the risk if anything happens to our coin. Some exchanges just careless and do not care about what we might lose if their platform get sticker or hacked.