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RE: Is there a time when it might actually be beneficial to store crypto on an exchange?
Another interesting fact is that some of the larger exchanges which you mentioned also have the capabilities to send your crypto to vaults for cold storage. While this adds a layer of trust to provide to a third party, it may be a need for some. As the population continues to adopt to crypto, these are bridges that allow new holders to get a sense of the traditional custodial sense of banking with a new asset.
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Yep, very true. Just means the odds of a hack impacting the exchange and yourself are that much smaller. Though, as long as they are fully insured, I feel pretty good about holding some assets there. :)