Buying Bitcoin can be exciting for many people.
Deciding on how you’re going to store it isn’t quite as exciting, but it’s at least as important. Literally billions of dollars worth of cryptocurrencies have been stolen from exchanges this decade. A cryptocurrency wallet is essential.
Wise words from an expert
So heed the simple but strong advice of the one and only Andreas Antonopolous:
“Your keys, your coins.”
“Not your keys, not your coins.”
Research which crypto wallet is best for you. It’s worth doing this research before your purchase. Go through the various options and make a decision based on your level of experience, investment and security requirements.
Then send yourself a test transaction. This is not something you want to get wrong, because if you do there is no undo button.
It really goes without saying that you should never give your private keys to anyone. Never! Ever!
So our strong advice is to get your crypto out of the exchange as soon as possible. You literally do not own it unless you have the private keys in your possession.