Hello friends,

I hope you all are well. Today I am going to complete the homework recommended by professor @gbenga.

Homework - Task 02

Will You Keep Your Crypto Assets in a Wallet or on an Exchange? Make a post to why you would prefer to keep your asset in one over the other.

Professor @gbenga.

Before saying whether my assets are kept in a crypto wallet or in an exchange, I thought I would point out the difference of crypto wallet and crypto exchange. Afterthat say what I choice. So let's see what the differences are.

Crypto wallets and exchanges are two important tools which will allow the revolutionary digital industry to function properly. Sometimes one company manages a number of wallets and exchanges. However, it depends on their taste. The main difference between a crypto wallet and a crypto exchange is that the crypto wallet keeps our cryptocurrencies safe and facilitates trading from one coin to another in exchange. There is no holding of coins by exchange.

Trading, selling and buying are the three main elements that are found in an exchange and those elements that are not found in a crypto wallet. Crypto exchange allows a private key for our Exchange access. If we find a security hole we should immediately take steps to hide our private key there. Or the key may fall into the wrong hands.

Also three features that can be seen in a wallet that cannot be seen in an exchange are long-term storage, high security and easy access. This will keep our crypto secure.

Source

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

Considering the above, I realized that it is safer to keep assets in a crypto wallet. So I like to keep my assets in a crypto wallet. I already use tron ​​crypto wallet.

A screenshot of my tron ​​wallet

Reasons why I choose crypto wallet

• The private key of the crypto exchange is on the exchange so there is some risk to its security. If the exchange is lost or the exchange does not return to the Internet, we will lose access to our crypto because we have no way to retrieve it. So I choose crypto wallet instead of crypto exchange.

• The other reason I chose crypto wallet to keep my assets is that we have the right to control the private key of a crypto wallet. It is more secure because we have a private key, which is the only way to access our cryptocurrencies. We also have full control over it. But we need to store those keys very securely and not let them get lost. That is our responsibility.

• Also, a crypto wallet can limit the use of our funds. It also reduces external exposure.

The End.

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Thanks for reading.

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References01
References02

Regards
@gbenga
@steemitblog

Cc :-
@steemcurator01
@steemcurator02

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