it is good to hold crypto on exchange ?
hello TFC member welcome back to my new post I personally give you a suggestion to not hold your crypto for the long term in crypto exchanges means centralised cryptocurrency exchanges like Binance, huobi, and many more. Decentralized exchanges are a safer option than centralized exchanges but the problem is decentralized exchanges provide fewer features than the cexs.
It is good to trade there and hold for some time then it is ok but if you want to hold your crypto for the long term then it is not good because I have seen real-life examples of my friend losing crypto in the exchange so this can happen with you as well so it is better to choose decentralized wallets to hold your crypto for the long term. Buying a ledger wallet is the safest option.
Now if you are holding Steem in Steemit wallet then it is 100% safe but if you decide to hold your steem coins in the binance, huobi, or any other exchange then you are doing wrong here and you should avoid it instead of this keep your steem tokens in the steem power and this is very safe as long as you protect your keys.
We should know how to protect our keys because not your keys, not your crypto and you have to remember this line in the Crypto Field to survive here otherwise you can lose your cryptocurrency so it is better to take precautions early. So I believe do not hold your cryptocurrency for the long term in the exchanges and use decentralized wallets. So if you agree with me or even if you do not agree then leave a comment below and also share this post on social media with proper tags. thank you and have a good day.
10% TO TRON FAN CLUB
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Really very nicely explained. Wish you all the best. Keep posting like this.
I think it's never good to hold Crypto on exchange wallet and self custody is always recommended because here we can have control on our funds but it is also good idea to keep whatever is required for the trading in exchange wallet.
I am agree with you that for long time we should not use Binance or etc. we should must use wallet wich is more safe from exchangers.
Wallets are very secure compared to exchanges. Anyway thanks for sharing a nice topic.