Every crypto investor will have different goals, some have short term goals as a trader or long term to get capital gains, whatever the goals of investors will always need a platform to store crypto which we know as a crypto wallet, which we can group into two namely wallets personal and wallet on crypto exchanges.A personal crypto wallet is a special crypto wallet that is owned by someone in the form of a webwallet, software wallet or hardware wallet. Whereas using a wallet on a crypto exchange we often know it as a hosted wallet, and we will be able to easily transact or trade.
What are the Differences of Storing Crypto in Your Own Wallet and on a Crypto Exchange?
- Thread starter Suba
- Start date
You store your crypto assets in an exchange wallet so that you can easily access it and use it to trade. On your own wallet, it is just kept for custody as you can't use it to trade.
Cryptocurrency wallet is just for saving cryptocurrency while cryptocurrency exchange is a place where you can exchange cryptocurrency. You can save cryptocurrency in the two but saving in the wallet is better
The major difference between storing once crypto in one's wallet and storing it in a crypto exchange is that storing crypto in your own wallet gives you full control over your private keys unlike storing crypto in a crypto exchange.
