Topic: What's Your Exchange to Wallet Ratio? - page 5. (Read 605 times)
I have a Trezor still sealed in the box, but I admit I'm intimidated in learning how to use it. Is ColdCard easier, or are they equal?
Most of my Bitcoin is stored in my non-custodial wallet. I only have a small amount. It's in a hot wallet. I know it's risky but at the very least it is non-custodial and open source. I also have small amounts in my gambling accounts. It's for betting, mainly sports betting but I also sometimes bet on dice and other casino games, especially during times when I don't have anything to do. Right now I don't have funds kept in a centralized exchange. I don't trade often. If there's a need to do some trades, that's the time I will send my funds. It is especially discouraging recently with the fees rising so high.
I'm sure there are people who leave a percentage of their BTC(perhaps a small one) on their exchange account but I don't, I use it as it is intended, exchange coins, and then withdraw. it's always better to store your BTC in your wallet/s. As the saying goes "Not your keys, not your coins"(a lot of people here will say this to you).
Does anybody leave a percentage of their BTC on the exchanges, or do you guys store all your BTC in your wallets, etc?
Exchanges are meant to be used for treating coins, not storing them, so there is no point in leaving them in an exchange.
If I use any centralised exchange today to buy bitcoin, the only purpose for using that is to buy it, and that's where its service ends. Storing it is my personal responsibility, so I move it to my private wallet (self-custodial wallet), to be precise.
I don't leave bitcoin in any exchange, but I leave some funds in some exchange as a result of me using them to place a buy order, which I don't expect them to execute at that very moment. Only those funds on an active order are what I leave in an exchange; the rest of them are moved down to my private wallet.
Not your key, not your coin.
It's safer to store it in your wallet, where you have full control over it, than to keep it in a place where anything can happen at any time, such as fund freezing, hacking, bankruptcy, etc.
Does anybody leave a percentage of their BTC on the exchanges, or do you guys store all your BTC in your wallets, etc?
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