Exchange is not wallet

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There is little care, and brokers are not safe for storing cryptocurrencies, so do not store your cryptocurrencies on exchanges, because the trading platforms are not wallets. However, it is not advisable to leave your cryptocurrencies in an exchange, as they are always susceptible to hacks or other eventualities that will not be in the control of the broker itself.

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Brokers, or exchanges themselves, are just a great way to buy cryptocurrencies easily and cheaply, but they are constantly being targeted by cybercriminals. And as we can see news, hundreds of thousands of Bitcoins have already been lost by hacks at brokerage firms over the years and brokers are under no obligation to recover their funds, although some have chosen to pay customers out of their own pockets or insurance funds. , but it will not happen directly.

There is little care, although exchanges remain the preferred way to acquire cryptocurrencies, but there are different types of exchanges. As for example, there are centralized companies that are under the control of a company and they operate under strict supervision of the regulators and therefore collect sensitive data which also ends up exposing you to a second attack that can see your confidential personal data stolen by hackers , that is, no exchange will be secure except its own wallet.

The only way to protect your data is to never provide it, thinking about it it is advisable not to keep funds on exchanges, but using platforms as wallets, the goal is to leave your cryptocurrencies off the network.

The purpose of the cryptocurrency revolution is for each person to be your bank!

Thanks for stopping by and reading my post. ❧

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5 comments
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You are absolutely right in saying that you should not keep your currencies in exchanges, many of them are compromised sooner or later

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Well said. It is good to prolong
this reminder all over again cause people tend to forget
and seek the easiest route.
The majority do not want to hold
their token cause they do not know how.
If you can do it on Hive you should do it everywhere.

!BEER

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