Quote from: Ale88 on Today at 04:43:02 PM

Quote from: Promocodeudo on June 10, 2023, 12:05:59 PM

It has been some months that I have been in this forum, I have started making arrangements for transacting with Bitcoin in the aspect of buying and storing. I don't have much knowledge of wallet to the extent of knowing a preferable wallet to use for storing my Bitcoin, right now I know that Bitcoin is a valuable asset from my understanding but other people doesn't accept the fact that it is really an asset, so I want to know a good wallet to use for my Bitcoin because I notice that some wallet my friends recommend to me are all exchange kind of wallet and I was told that it's not proper to use an exchange wallet for storing or saving of Bitcoin for a long time. I wish to have more recommendation or articles to read concerning wallets and it's security values but during my research I was recommended to use electrum wallet but I was confused if electrum wallet is an exchange or a custodial wallet, therefore i need a good direction, clarification and update of suitable wallet from senior colleagues.

First of all, never leave your funds on any exchange because if for any reason they decide to froze your account or they simply scam everybody and run the funds, you lost everything forever. Regarding the wallets I prefer hardware wallets because they are completely disconnected from internet, even if your computer is compromised they can't access the wallet. I wouldn't use Electrum, and if you do be very careful, especially make sure you download it from the legit website.

One thing to always keep in mind for holding bitcoins is NOT YOUR KEY NOT YOUR BITCOINS. Exchange is a centralized platform. So depositing Bitcoin there puts it under someone else's control. So any time the account is frozen or suspended, the deposited bitcoins will be lost. Because of this, we should never hold bitcoins on centralized exchangers . A non-custdial wallet should be used to hold bitcoins where the bitcoins are fully under our self control. Hardware wallets can also be a good choice because it is also a secure wallet