I believe by now a lot of Bitcoin investor should know the risks associated with exchanges. We have witnessed a lot of exchanges that collapse, and investors don't have access to their funds again. And one thing again is that when someone leaves their Bitcoin in an exchange, it means that is not only person has access to the Bitcoin, and once someone is not the only one having access to it Bitcoin, it Bitcoin it already at risks. meaning any issue can come up later with your Bitcoin investment. The best way our Bitcoin can be properly secured is by using our personal wallet, which is called non-custodial wallets.so it is good advise to always store our Bitcoin in non-custodial wallets that will have full control to especially hold term Bitcoin holders.
Sure. I agree that there are risks with exchanges, yet I still was making the point that it is probably better for a newbie investor to get started investing in bitcoin rather than worrying about self-custody, even if there we all know that there are benefits (and advantages) to self-custody, I doubt it is helpful to not invest into bitcoin merely for some prerequisite that self-custody needs to be learned prior to investing into bitcoin. In other words, I am suggesting to get started and figure out self-custody later.
When we are in bitcoin, apart from this can be used as an investment, we also do not want anyone else's interference in controlling our investment because the concept of bitcoin is clear that there are no third parties who can intervene or take any action on the assets we have. So by looking at this we should realize that when we store our assets on the exchange, indirectly actually in this case even though we also have full control but there are still third parties who limit the movements we have which will be very dangerous if we try to store in the long term in the exchange.
Many exchanges eventually experienced problems and collapsed, for example, as happened to FTX some time ago which should be used as a lesson that storing on the exchange is not a safe action to make our assets comfortable so it is important from this that we must really be able to choose which one is the best so that in the end we do not have many problems and risks from outside the investment we do.