I'm a newbie who joined this forum to learn more about the performance of cryptocurrencies as investments, particularly the role played by the Bitcoin blackchain in other cryptocurrencies' strong security. being a member of this forum for some time and reading the forum to learn it thoroughly. I discovered a lot of new information, particularly in areas of decentralized and centralized exchange. However, that is not the main reason I decided to write this brief article.
When they keep telling us, especially newcomers, to avoid altcoins and stick with Bitcoin, it's all about the difference between decentralized and centralized exchanges.
As a newcomer, I assumed that altcoins could also be stored in non-custodial wallets, but I later discovered that only Bitcoin could be stored in non-custodial wallets such as electrum, Exodus, and the Ledger Nano X. If we can't store our coins in a non-custodial wallet where we have full control over them, why should we buy other coins or tokens where we don't have full control just because exchanges give us half power over our investments? So, if you own other coins or tokens, you don't have much control over your crypto investment because exchanges can bring any laws that may affect you in the future or even steal it.
I can't give advice because I'm not knowledgeable enough to give it to a newbie, but with this little write up, I'd like to advise my followers newbies to stay away from all other coins and tokens except Bitcoin, and if anyone is holding Bitcoin in exchanges, he/she should try to move it out of exchanges for proper storage.
