- And for those wey dey use CEX for long term storage, know this say Dem dem fit freeze your account or hacker fit attack am. If you later move your coins from CEX enter any of your self custody wallet, na the seed phrase fit give you full control over am( in cases where you go looseguard ur private key).
actually it is not ideal to keep or store your assets on centralize exchange. CEX is only meant to exchange your coins to fiat or to swap one coin to the other and not a place to store your coins. the best place to store your bitcoin or any other coin like ETH for long term is the cold wallet. while your hot wallet can be used for regular convenience, fast and easy cryptocurrency transaction. the most important thing is to keep your private key safe because bot cold and hot wallet if any of the private key is compromised, then all coin will still be lost regardless of the type of wallet you store them.