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RE: ScaredyCatGuide to Bitcoin and Other Cryptocurrencies – Part 1 - Bitcoin Introduction
As Andreas Antonopoulos says, "your keys, your coins, not your keys, not your coins". So it's important not to hold your coins long term on an exchange like Coinbase (or you will be goxxed). I use a hardware wallet.
Exchanges violate the decentralization principles of Satoshi Nakamoto by creating giant honeypots that can be attacked.
Exactly, generally I only leave my active trading cyrpto on the exchange, all long term holdings are in wallets.
I will get into wallets vs exchanges and keys in future posts.