Topic: Storing your Crypto in Exchanges is better than using Cold Wallets! - page 6. (Read 1205 times)

When you seriously come to think about it - storing your Crypto in exchanges is better than using cold wallets.

The first main reason is that exchanges pay you an interest rate on your Crypto whilst cold wallets pay none.

Secondly, we definitely believe that more and more users would move into hot wallets than using cold wallets, Ledger.com could become the next "Netscape" and then if your hardware device gets faulty and you would need support from Ledger.com - then you might find yourself in trouble. It's not a wild guess, this could seriously become the reality in the next few years.

We've just posted an article about this so if you wish to read our full opinion you're welcome to read this here:

https://freebitcoin.io/articles/free-bitcoin-wallet-and-investment-advice

But as mentioned above we've tried to point out here in this thread in short version the very few reasons why using an exchange is better than using a cold wallet in the long term. For instance 8% APY on your USDT is something that is seriously worth more than just additional "security" which is not really a true security because you are relying on a centralized private company such as Ledger.com and people seem to forget that .... Netscape was also a great success in its early days but around 2003 it almost disappeared and today almost no one is using it.

We definitely believe cold wallets are going to be history whilst hot wallets or exchanges such as Binance.com or Crypto.com are going to be the future - the listings and value of BNB and Crypto.com are just enough to indicate to you how they are growing fast .... whilst Ripple doesn't move for years between $0.20 and $0.30 - BNB and Crypto.com have already achieved massive gains.

We don't want to keep this thread too long but feel free to refer to our article to read more and let us know whether you agree or not with this stipulation.