Why it isn't safe to leave my bitcoins on an exchange?
Cause cryptocurrency hardware wallets especially ledger nano S has been proven to be the safest, oops! sorry for the spoiler, scroll down for details :-)
source (yeap, that's a pic of a goat right there, scroll down pls)
The second question you're likely to get from anyone who is new into the cryptocurrency space is where to save their coins, that'll be after they have asked if they could earn for free, LOL
Being on the crypto space for over two years now, I've come across multiple exchanges cause of that coin/token I'm hoping to buy is listed there, some have been shitty and most tops notched when compared to most FIAT exchanges I know, and some ended up being a Korean or Chinese exchange (this always gives me a heartburn).
Never the less whether top-notch or not, Korean or Chinese there is one question behind every trader's mind when trading on an exchange.
How safe are my funds?
Just to let it out to some of you out there, if you haven't been scammed or misplaced your funds before and you have been in the space for over a year now I guess you're yet to know what crypto is all about, sorry!
The first thing you'll always hear from a trading coach on cryptocurrency is a basically exchanges are not safe places to store your funds. WHY?
First of all, let's get something straight you're investing in a decentralized currency and equally believing in a decentralized tech while you let your funds stay on a centralized exchange serving as the wallet, damn..! sounds so wrong to me.
Exchanges getting hacked is kinda the easiest thing for most hackers in the crypto space according to recent emails I've been receiving from multiple exchanges stating I logged from France, from Germany (for christ sake, I'm even yet to get my international passport) and the rest of the Asian countries which are too numerous to mention.
Hackers made most exchanges to employ the 2fa security check which has lessen issues of accounts getting hacked but for the past 2 years now, I've lost most of my funds due to 2fa issue losing your mobile device and not being able to regenerate the data of your 2fa app is just as losing your funds to hackers cause you're automatically locked off your own account.
Most of the aforementioned hassles can be bypassed by just simply getting a hardware wallet like the Ledger nano S
Being fully certified by the ANSSI (that's the french cybersecurity), the Ledger nano S is a cryptocurrency hardware wallet that ensures safety and maximum security of crypto funds against cybercriminals.
With outstanding features like the smooth and sleek design, backup function just in case you lose your hardware supports multi currencies ranging from the bitcoin blockchain, eth chain, Noe, EOS and so on.
I guess the question should be, How fast can I get my ledger nano S hardware wallet?
Disclamer: This is financial advice, consider getting a hardware wallet
