Crypto Academy Week 2 Homework Post for @gbenga | Cryptocurrency Exchanges and Cryptocurrency Market Capitalization

Hello everyone!
I hope you all will be fine and healthy. Today i attended the lecture of sir @gbenga and i leant many important things about the Crypto urrency Exchanges and Cryptocurrency Market Capitalization I am very grateful to the @steemitblog, the steemit team for this amazing chance for everyone to learn Basics of the crypto. And i am here to complete the task that Will You Keep Your Crypto Assets in a Wallet or on an Exchange?

Difference Between Crypto Wallet And Exchange

Crypto currency wallets and Exchanges are two significant instruments which permit this progressive computerized industry to work appropriately. Various wallets and exchanges are overseen by similar organizations, and this occasionally creates turmoil of their disparities.

Image-Reference

• Crypto wallet: The critical difference between a Crypto wallet and a crypto currency exchange is that the wallet's fundamental design is to safe keep your crypto. Wallet is basically you can consider it a container which keeps your crypto assets safe and sound. And you can get your crypto assets at any time when you want.

• Wallet: The exchange is there to encourage trading of one coin to the other coins. It provides different pairs of trading and you can easily trade your coins with its pair of trading.

Q. Will You Keep Your Crypto Assets in a Wallet or on an Exchange?

I will prefer to keep my crypto assets in the crypto wallet. As i already using this for the storing of my crypto assets. I think it is more safe than the exchanges.

Q. Why I would Prefer To Keep My Asset in Wallet?

Storing tokens on trade wallets can be perilous for various reasons.

1) Lack of Ownership

While you can store any coins or tokens you buy on your trade wallet, you don't actually possess that wallet. Trade wallets are not quite the same as close to home wallets in that trade wallets are preferably "hot wallets" for exchanging. In the event that something occurs on the trade, at that point you don't have any command over your coins since they aren't in your guardianship, they have a place with the trade. This is one reason why ICOs advise their members to not utilize trade wallets to get tokens. ICO members don't approach the private keys on trades and in that capacity if tokens are shipped off those trade addresses, they can't be gotten to by the member. One of the ICO projects I took an interest in focused on this point continually.

2) Unregulated

Digital money trades are the combination of decentralization and centralization. The entire reason behind blockchain and cryptographic money is to advance decentralization. Be that as it may, trades are indeed unified, which makes various issues. Right now, the cryptographic money world is somewhat similar to the wild west, nobody is in control and there aren't numerous guidelines. This implies that in circumstances like the new examination of a digital currency trade in South Korea, resources can get frozen. While proprietors of trades can tell their clients that their crypto resources would stay safe, they can't ensure this. Additionally, because of the idea of digital currencies, the trade would have no obligation to restore cash to their clients. There is no managing body considering trades liable for returning lost cash to clients, nor is there any protection in the event that something occurs.

3) Hacking Risk

Notwithstanding the absence of guideline and powerlessness to ensure the security of resources, there is likewise the danger of a trade getting hacked. Trade hacks are generally normal, and because of the absence of guideline, when the coins get lost, that is it. The proprietors of the coins can't get them back from the trade. While blockchain itself is secure and basically unhackable, the unified idea of a trade makes them helpless.

---

---

Conclusion

---

---

So the conclusion is that we should not save our crypto assets in the exchange. As we know that the exchanges are easy but not much safe like the wallet because you have complete authority on your wallet every time and you are the master of your crypto assets. So it is far better than the exchange to have your own wallet to store your assets. Let me know about your advices to save the crypto assets.

---

---

Cc:-
@gbenga
@steemitblog
@steemcurator01
@steemcurator02

---

---