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[Solved] Is it safe to keep Bitcoin on an Exchange?


Posts: 1
 zeph
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Topic starter
(@zeph)
Joined: 2 months ago

Hi there

I want to buy Bitcoins and I have seen that some Exchanges offer the cryptocurrency custody service. Do I run any risk by keeping my Bitcoins on an Exchange like Coinbase for example?

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cryptoSato
Posts: 3
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(@cripto)
Member
Joined: 2 months ago

Hello

In recent years, some cryptocurrency exchange platforms have been hacked, suffering the loss of thousands of Bitcoins from the accounts of their users. For this reason, it is best to use a cryptocurrency wallet that you can manage yourself.

There are several types of wallets, but the ones that provide the most flexibility for transactions are mobile wallets. These are downloaded like any application from the smartphone's app store. Its use is simple. After registering and adding a payment method, you can start buying Bitcoins, for example from Coinbase.

Two widely used and very appropriate wallets for those who are just starting out in cryptocurrencies are BitPay and Coinbase. They are available for Android and iOS. Here are your download links:

Download Coinbase for Android
Download Coinbase for iOS

Download BitPay for Android
Download Bitpay for iOS

 

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