{"id":2565,"date":"2021-12-02T13:00:00","date_gmt":"2021-12-02T13:00:00","guid":{"rendered":"https:\/\/moneymade.wpenginepowered.com\/?p=2565"},"modified":"2025-05-21T15:14:48","modified_gmt":"2025-05-21T15:14:48","slug":"crypto-wallet-vs-exchange","status":"publish","type":"post","link":"https:\/\/moneymade.io\/learn\/articles\/crypto-wallet-vs-exchange\/","title":{"rendered":"Crypto Wallet vs Exchange: Where to Stash Your Crypto"},"content":{"rendered":"\n<p><strong><em>Crypto exchanges like Coinbase and Binance make it easy to store your crypto, but keeping your coins in an external wallet is more secure.<\/em><\/strong><\/p>\n\n\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:10%\"><\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:80%\">\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/moneymade.io\/learn\/wp-content\/uploads\/2025\/05\/Money_Made_Crypto_Wallet_Exange_Article_MO_b610c94cf8.png\" alt=\"Crypto Wallet vs Exchange: Where to Stash Your Crypto\"\/><\/figure>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:10%\"><\/div>\n<\/div>\n\n\n\n<p>You&#8217;ve purchased some Bitcoin, Ethereum, or Cardano (or maybe you&#8217;re about to pull the trigger), and now you&#8217;re wondering where to keep it. After all, your Bank of America account isn&#8217;t an option.<\/p>\n\n\n\n<p>Storing your crypto isn&#8217;t as straightforward as stashing your cash in a savings account. You can keep it in the crypto exchange where you bought it, but that can leave it open to cyber attacks, theft, and loss. Or, you could move it to a safer crypto wallet, but that can make it harder to access.<\/p>\n\n\n\n<p>If you&#8217;re going to invest in crypto, whether casually or with the hopes of retiring on a mountain of Dogecoin, you need to make sure you&#8217;re storing your future fortune safely and securely. When it comes to deciding between your two options, a crypto wallet vs exchange, here&#8217;s what you need to know.<\/p>\n\n\n\n<h2 id='what-is-a-crypto-exchange' class=\"wp-block-heading\" id=\"h-what-is-a-crypto-exchange\">What is a crypto exchange?<\/h2>\n\n\n\n<p>A cryptocurrency exchange is a platform where you can buy, sell, and trade various cryptocurrencies. These crypto exchanges will store your crypto for you unless you decide to withdraw it. For example, you can buy Bitcoin with US dollars on a crypto exchange, and you can keep your Bitcoin on that exchange. You could also convert some of your Bitcoin to another cryptocurrency, like Ethereum, or you could eventually withdraw it to an external wallet or convert it back to USD.&nbsp;<\/p>\n\n\n\n<p>Different crypto exchanges charge different fees for each transaction and not all cryptocurrencies are supported, although the biggest crypto exchanges support hundreds of different tokens. Some of the most popular crypto exchanges include <a href=\"https:\/\/moneymade.io\/discover\/coinbase\">Coinbase<\/a>, Binance, <a href=\"https:\/\/moneymade.io\/discover\/kraken\">Kraken<\/a>, and <a href=\"https:\/\/moneymade.io\/discover\/gemini\">Gemini<\/a>.<\/p>\n\n\n\n<h2 id='pros-and-cons-of-using-a-crypto-exchange-to-store-your-crypto' class=\"wp-block-heading\" id=\"h-pros-and-cons-of-using-a-crypto-exchange-to-store-your-crypto\">Pros and cons of using a crypto exchange to store your crypto<\/h2>\n\n\n\n<div class=\"acf-block\">\n  <div class=\"pro-con\">\n    <div class=\"pro-con__half\">\n      <div class=\"pro-con__title\">\n                  <svg width=\"20\" height=\"22\" viewBox=\"0 0 20 22\" fill=\"none\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\">\n<path d=\"M18.3 9.35008C17.9676 9.00064 17.5672 8.72282 17.1236 8.53367C16.6799 8.34451 16.2023 8.24801 15.72 8.25008H14.06V8.20008C14.2 7.71008 14.33 7.20008 14.43 6.83008C14.7413 5.73795 14.8062 4.59033 14.62 3.47008C14.5091 2.74612 14.2243 2.05984 13.79 1.47008C13.3779 0.936521 12.8015 0.553474 12.15 0.380078C11.9569 0.332798 11.7588 0.30929 11.56 0.310078H11.44C11.1748 0.326457 10.916 0.39798 10.68 0.520078C10.2294 0.785815 9.89417 1.21017 9.74 1.71008V1.80008V1.91008L9.62 2.00008V2.17008L9.43 2.82008L9.33 3.16008L8.93 4.58008C8.90665 4.66566 8.87655 4.74925 8.84 4.83008C8.39 5.53008 7.91 6.24008 7.43 6.96008L6.56 8.25008H3.25C2.58696 8.25008 1.95107 8.51347 1.48223 8.98231C1.01339 9.45115 0.75 10.087 0.75 10.7501V18.7501C0.75 19.4131 1.01339 20.049 1.48223 20.5178C1.95107 20.9867 2.58696 21.2501 3.25 21.2501H5.25C5.87515 21.2502 6.47651 21.0104 6.93 20.5801C8.05 20.8301 9.29 21.0901 10.3 21.3001L11.7 21.5901L11.94 21.6501C12.1112 21.6891 12.285 21.7159 12.46 21.7301C12.6198 21.74 12.7802 21.74 12.94 21.7301C14.0439 21.7287 15.1163 21.3621 15.99 20.6874C16.8638 20.0127 17.4896 19.0678 17.77 18.0001C18.18 16.3801 19.04 13.0001 19.05 13.0001C19.1498 12.6508 19.2134 12.2923 19.24 11.9301C19.2653 11.4589 19.1951 10.9874 19.0336 10.544C18.872 10.1007 18.6225 9.69455 18.3 9.35008ZM12.94 19.7601H12.67H12.56L12.09 19.6701L10.71 19.3901L7.71 18.7501V10.0801C8.14 9.41008 8.59 8.74008 9.04 8.08008C9.49 7.42008 10 6.67008 10.47 6.00008C10.627 5.75053 10.7418 5.47688 10.81 5.19008L11.22 3.77008L11.33 3.38008L11.5 2.78008L11.56 2.55008V2.45008V2.40008C11.5571 2.37015 11.5571 2.34001 11.56 2.31008C11.7805 2.36033 11.9735 2.49262 12.1 2.68008C12.3391 3.03066 12.4963 3.43052 12.56 3.85008C12.6869 4.69246 12.6289 5.55236 12.39 6.37008C12.21 7.07008 11.67 9.01008 11.67 9.01008C11.6282 9.15765 11.6208 9.31287 11.6486 9.46373C11.6763 9.61459 11.7384 9.75705 11.83 9.88008C11.9242 10.0037 12.0435 10.1059 12.18 10.1801C12.322 10.2427 12.4749 10.2767 12.63 10.2801H15.63C15.8377 10.274 16.0444 10.3115 16.2368 10.3901C16.4292 10.4686 16.603 10.5866 16.7471 10.7363C16.8911 10.886 17.0023 11.0643 17.0734 11.2595C17.1445 11.4548 17.174 11.6627 17.16 11.8701C17.1341 12.0899 17.0906 12.3072 17.03 12.5201C17.03 12.5201 16.16 15.9101 15.74 17.5201C15.5767 18.1452 15.216 18.7008 14.7115 19.1044C14.207 19.508 13.5857 19.738 12.94 19.7601ZM2.75 10.7601C2.74717 10.6937 2.75817 10.6274 2.78229 10.5654C2.80642 10.5035 2.84315 10.4472 2.89015 10.4002C2.93716 10.3532 2.99342 10.3165 3.05536 10.2924C3.1173 10.2682 3.18358 10.2572 3.25 10.2601H5.75V18.7601C5.75283 18.8265 5.74183 18.8928 5.71771 18.9547C5.69358 19.0167 5.65685 19.0729 5.60985 19.1199C5.56284 19.1669 5.50658 19.2037 5.44464 19.2278C5.3827 19.2519 5.31642 19.2629 5.25 19.2601H3.25C3.18358 19.2629 3.1173 19.2519 3.05536 19.2278C2.99342 19.2037 2.93716 19.1669 2.89015 19.1199C2.84315 19.0729 2.80642 19.0167 2.78229 18.9547C2.75817 18.8928 2.74717 18.8265 2.75 18.7601V10.7601Z\" fill=\"#14AEA5\"\/>\n<\/svg>\n\n                  <h4>Pros<\/h4>\n              <\/div>\n      <div class=\"pro-con__content\">\n        <ul>\n<li>Easy and convenient<\/li>\n<li>Cheaper than a hardware wallet<\/li>\n<li>Necessary for active traders<\/li>\n<\/ul>\n      <\/div>\n    <\/div>\n\n    <div class=\"pro-con__half\">\n      <div class=\"pro-con__title\">\n                  <svg width=\"20\" height=\"22\" viewBox=\"0 0 20 22\" fill=\"none\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\">\n<path d=\"M18.3 12.6499C17.9676 12.9994 17.5672 13.2772 17.1236 13.4663C16.6799 13.6555 16.2023 13.752 15.72 13.7499H14.06V13.7999C14.2 14.2899 14.33 14.7999 14.43 15.1699C14.7413 16.262 14.8062 17.4097 14.62 18.5299C14.5091 19.2539 14.2243 19.9402 13.79 20.5299C13.3779 21.0635 12.8015 21.4465 12.15 21.6199C11.9569 21.6672 11.7588 21.6907 11.56 21.6899H11.44C11.1748 21.6735 10.916 21.602 10.68 21.4799C10.2294 21.2142 9.89417 20.7898 9.74 20.2899V20.1999V20.0899L9.62 19.9999V19.8299L9.43 19.1799L9.33 18.8399L8.93 17.4199C8.90665 17.3343 8.87655 17.2507 8.84 17.1699C8.39 16.4699 7.91 15.7599 7.43 15.0399L6.56 13.7499H3.25C2.58696 13.7499 1.95107 13.4865 1.48223 13.0177C1.01339 12.5488 0.75 11.913 0.75 11.2499V3.24992C0.75 2.58688 1.01339 1.951 1.48223 1.48215C1.95107 1.01331 2.58696 0.749922 3.25 0.749922H5.25C5.87515 0.749792 6.47651 0.989618 6.93 1.41992C8.05 1.16992 9.29 0.909922 10.3 0.699923L11.7 0.409922L11.94 0.349922C12.1112 0.31085 12.285 0.284115 12.46 0.269922C12.6198 0.259991 12.7802 0.259991 12.94 0.269922C14.0439 0.271252 15.1163 0.637867 15.99 1.31259C16.8638 1.98732 17.4896 2.93222 17.77 3.99992C18.18 5.61992 19.04 8.99992 19.05 8.99992C19.1498 9.34915 19.2134 9.7077 19.24 10.0699C19.2653 10.5411 19.1951 11.0126 19.0336 11.456C18.872 11.8993 18.6225 12.3055 18.3 12.6499ZM12.94 2.23992H12.67H12.56L12.09 2.32992L10.71 2.60992L7.71 3.24992V11.9199C8.14 12.5899 8.59 13.2599 9.04 13.9199C9.49 14.5799 10 15.3299 10.47 15.9999C10.627 16.2495 10.7418 16.5231 10.81 16.8099L11.22 18.2299L11.33 18.6199L11.5 19.2199L11.56 19.4499V19.5499V19.5999C11.5571 19.6299 11.5571 19.66 11.56 19.6899C11.7805 19.6397 11.9735 19.5074 12.1 19.3199C12.3391 18.9693 12.4963 18.5695 12.56 18.1499C12.6869 17.3075 12.6289 16.4476 12.39 15.6299C12.21 14.9299 11.67 12.9899 11.67 12.9899C11.6282 12.8423 11.6208 12.6871 11.6486 12.5363C11.6763 12.3854 11.7384 12.243 11.83 12.1199C11.9242 11.9963 12.0435 11.8941 12.18 11.8199C12.322 11.7573 12.4749 11.7233 12.63 11.7199H15.63C15.8377 11.726 16.0444 11.6885 16.2368 11.6099C16.4292 11.5314 16.603 11.4134 16.7471 11.2637C16.8911 11.114 17.0023 10.9357 17.0734 10.7405C17.1445 10.5452 17.174 10.3373 17.16 10.1299C17.1341 9.91014 17.0906 9.69277 17.03 9.47992C17.03 9.47992 16.16 6.08992 15.74 4.47992C15.5767 3.85483 15.216 3.29916 14.7115 2.89556C14.207 2.49197 13.5857 2.26202 12.94 2.23992ZM2.75 11.2399C2.74717 11.3063 2.75817 11.3726 2.78229 11.4346C2.80642 11.4965 2.84315 11.5528 2.89015 11.5998C2.93716 11.6468 2.99342 11.6835 3.05536 11.7076C3.1173 11.7318 3.18358 11.7428 3.25 11.7399H5.75V3.23992C5.75283 3.17351 5.74183 3.10723 5.71771 3.04528C5.69358 2.98334 5.65685 2.92708 5.60985 2.88008C5.56284 2.83307 5.50658 2.79634 5.44464 2.77221C5.3827 2.74809 5.31642 2.73709 5.25 2.73992H3.25C3.18358 2.73709 3.1173 2.74809 3.05536 2.77221C2.99342 2.79634 2.93716 2.83307 2.89015 2.88008C2.84315 2.92708 2.80642 2.98334 2.78229 3.04528C2.75817 3.10723 2.74717 3.17351 2.75 3.23992V11.2399Z\" fill=\"#ED2348\"\/>\n<\/svg>\n\n                 <h4>Cons<\/h4>\n              <\/div>\n      <div class=\"pro-con__content\">\n        <ul>\n<li>Can be less secure<\/li>\n<li>Vulnerable to cyber attacks<\/li>\n<\/ul>\n      <\/div>\n    <\/div>\n  <\/div>\n<\/div>\n\n\n<p>When you buy tokens on a crypto exchange, you can leave your crypto on that exchange. This is the easiest storage option, but it can be risky. When you keep your crypto on a crypto exchange you don&#8217;t actually own it\u2014the exchange does.<\/p>\n\n\n\n<p>Crypto lives on the blockchain technology it uses, and you access it using private and public keys. Your private key, which is an encrypted code, is like the locked safe to your crypto that keeps it secure. Crypto enthusiasts like to say that the holder of the keys is the real owner of the crypto they correspond to, because that&#8217;s who controls how securely that crypto is stored.&nbsp;<\/p>\n\n\n\n<p>When you keep your crypto on a crypto exchange, your crypto is still stored in a wallet, but the wallet is owned by the exchange. That means you don&#8217;t get the keys to your crypto either\u2014the exchange keeps them. If that exchange is compromised, your crypto could be too. According to the BBC, at least $2.1 billion in crypto kept on crypto exchanges has been stolen by hackers since 2014. There&#8217;s also a risk of internal mismanagement within the crypto exchange.<\/p>\n\n\n\n<p>That said, keeping your crypto on a crypto exchange is convenient in more than one way. Not only do you not have to worry about going through the process of opening a crypto wallet and moving your crypto, but you have immediate access to using your crypto balance on the exchange. If you&#8217;re actively trading, for example, the crypto you want to trade will need to be on your crypto exchange account.<\/p>\n\n\n\n<h2 id='what-is-a-crypto-wallet' class=\"wp-block-heading\" id=\"h-what-is-a-crypto-wallet\">What is a crypto wallet?<\/h2>\n\n\n\n<p>A crypto wallet stores the keys that allow you to access and manage your crypto. It&#8217;s less like a physical wallet and more like a highly secure bank account. There are many different types of crypto wallets, including both software and hardware wallets.<\/p>\n\n\n\n<p>Hardware wallets are widely considered to be the most secure way to store crypto because they aren&#8217;t connected to the internet and therefore aren&#8217;t vulnerable to cyber attacks. These small portable devices cost around $40 to $180. There are also paper wallets, which are simply printed pieces of paper with your keys on them, often in the form of a QR code. These are one-time use and have largely been replaced by hardware wallets.<\/p>\n\n\n\n<p>Software wallets include web-based wallets, mobile wallets, and desktop wallets. Of these three, desktop wallets (which are downloaded to your desktop in the form of a software program) are typically preferable. You don&#8217;t need to connect to the internet to access your crypto with a desktop wallet, so they&#8217;re more secure.<\/p>\n\n\n\n<h2 id='pros-and-cons-of-using-a-crypto-wallet' class=\"wp-block-heading\" id=\"h-pros-and-cons-of-using-a-crypto-wallet\">Pros and cons of using a crypto wallet<\/h2>\n\n\n\n<div class=\"acf-block\">\n  <div class=\"pro-con\">\n    <div class=\"pro-con__half\">\n      <div class=\"pro-con__title\">\n                  <svg width=\"20\" height=\"22\" viewBox=\"0 0 20 22\" fill=\"none\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\">\n<path d=\"M18.3 9.35008C17.9676 9.00064 17.5672 8.72282 17.1236 8.53367C16.6799 8.34451 16.2023 8.24801 15.72 8.25008H14.06V8.20008C14.2 7.71008 14.33 7.20008 14.43 6.83008C14.7413 5.73795 14.8062 4.59033 14.62 3.47008C14.5091 2.74612 14.2243 2.05984 13.79 1.47008C13.3779 0.936521 12.8015 0.553474 12.15 0.380078C11.9569 0.332798 11.7588 0.30929 11.56 0.310078H11.44C11.1748 0.326457 10.916 0.39798 10.68 0.520078C10.2294 0.785815 9.89417 1.21017 9.74 1.71008V1.80008V1.91008L9.62 2.00008V2.17008L9.43 2.82008L9.33 3.16008L8.93 4.58008C8.90665 4.66566 8.87655 4.74925 8.84 4.83008C8.39 5.53008 7.91 6.24008 7.43 6.96008L6.56 8.25008H3.25C2.58696 8.25008 1.95107 8.51347 1.48223 8.98231C1.01339 9.45115 0.75 10.087 0.75 10.7501V18.7501C0.75 19.4131 1.01339 20.049 1.48223 20.5178C1.95107 20.9867 2.58696 21.2501 3.25 21.2501H5.25C5.87515 21.2502 6.47651 21.0104 6.93 20.5801C8.05 20.8301 9.29 21.0901 10.3 21.3001L11.7 21.5901L11.94 21.6501C12.1112 21.6891 12.285 21.7159 12.46 21.7301C12.6198 21.74 12.7802 21.74 12.94 21.7301C14.0439 21.7287 15.1163 21.3621 15.99 20.6874C16.8638 20.0127 17.4896 19.0678 17.77 18.0001C18.18 16.3801 19.04 13.0001 19.05 13.0001C19.1498 12.6508 19.2134 12.2923 19.24 11.9301C19.2653 11.4589 19.1951 10.9874 19.0336 10.544C18.872 10.1007 18.6225 9.69455 18.3 9.35008ZM12.94 19.7601H12.67H12.56L12.09 19.6701L10.71 19.3901L7.71 18.7501V10.0801C8.14 9.41008 8.59 8.74008 9.04 8.08008C9.49 7.42008 10 6.67008 10.47 6.00008C10.627 5.75053 10.7418 5.47688 10.81 5.19008L11.22 3.77008L11.33 3.38008L11.5 2.78008L11.56 2.55008V2.45008V2.40008C11.5571 2.37015 11.5571 2.34001 11.56 2.31008C11.7805 2.36033 11.9735 2.49262 12.1 2.68008C12.3391 3.03066 12.4963 3.43052 12.56 3.85008C12.6869 4.69246 12.6289 5.55236 12.39 6.37008C12.21 7.07008 11.67 9.01008 11.67 9.01008C11.6282 9.15765 11.6208 9.31287 11.6486 9.46373C11.6763 9.61459 11.7384 9.75705 11.83 9.88008C11.9242 10.0037 12.0435 10.1059 12.18 10.1801C12.322 10.2427 12.4749 10.2767 12.63 10.2801H15.63C15.8377 10.274 16.0444 10.3115 16.2368 10.3901C16.4292 10.4686 16.603 10.5866 16.7471 10.7363C16.8911 10.886 17.0023 11.0643 17.0734 11.2595C17.1445 11.4548 17.174 11.6627 17.16 11.8701C17.1341 12.0899 17.0906 12.3072 17.03 12.5201C17.03 12.5201 16.16 15.9101 15.74 17.5201C15.5767 18.1452 15.216 18.7008 14.7115 19.1044C14.207 19.508 13.5857 19.738 12.94 19.7601ZM2.75 10.7601C2.74717 10.6937 2.75817 10.6274 2.78229 10.5654C2.80642 10.5035 2.84315 10.4472 2.89015 10.4002C2.93716 10.3532 2.99342 10.3165 3.05536 10.2924C3.1173 10.2682 3.18358 10.2572 3.25 10.2601H5.75V18.7601C5.75283 18.8265 5.74183 18.8928 5.71771 18.9547C5.69358 19.0167 5.65685 19.0729 5.60985 19.1199C5.56284 19.1669 5.50658 19.2037 5.44464 19.2278C5.3827 19.2519 5.31642 19.2629 5.25 19.2601H3.25C3.18358 19.2629 3.1173 19.2519 3.05536 19.2278C2.99342 19.2037 2.93716 19.1669 2.89015 19.1199C2.84315 19.0729 2.80642 19.0167 2.78229 18.9547C2.75817 18.8928 2.74717 18.8265 2.75 18.7601V10.7601Z\" fill=\"#14AEA5\"\/>\n<\/svg>\n\n                  <h4>Pros<\/h4>\n              <\/div>\n      <div class=\"pro-con__content\">\n        <ul>\n<li>More secure<\/li>\n<li>You have full control over your crypto<\/li>\n<\/ul>\n      <\/div>\n    <\/div>\n\n    <div class=\"pro-con__half\">\n      <div class=\"pro-con__title\">\n                  <svg width=\"20\" height=\"22\" viewBox=\"0 0 20 22\" fill=\"none\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\">\n<path d=\"M18.3 12.6499C17.9676 12.9994 17.5672 13.2772 17.1236 13.4663C16.6799 13.6555 16.2023 13.752 15.72 13.7499H14.06V13.7999C14.2 14.2899 14.33 14.7999 14.43 15.1699C14.7413 16.262 14.8062 17.4097 14.62 18.5299C14.5091 19.2539 14.2243 19.9402 13.79 20.5299C13.3779 21.0635 12.8015 21.4465 12.15 21.6199C11.9569 21.6672 11.7588 21.6907 11.56 21.6899H11.44C11.1748 21.6735 10.916 21.602 10.68 21.4799C10.2294 21.2142 9.89417 20.7898 9.74 20.2899V20.1999V20.0899L9.62 19.9999V19.8299L9.43 19.1799L9.33 18.8399L8.93 17.4199C8.90665 17.3343 8.87655 17.2507 8.84 17.1699C8.39 16.4699 7.91 15.7599 7.43 15.0399L6.56 13.7499H3.25C2.58696 13.7499 1.95107 13.4865 1.48223 13.0177C1.01339 12.5488 0.75 11.913 0.75 11.2499V3.24992C0.75 2.58688 1.01339 1.951 1.48223 1.48215C1.95107 1.01331 2.58696 0.749922 3.25 0.749922H5.25C5.87515 0.749792 6.47651 0.989618 6.93 1.41992C8.05 1.16992 9.29 0.909922 10.3 0.699923L11.7 0.409922L11.94 0.349922C12.1112 0.31085 12.285 0.284115 12.46 0.269922C12.6198 0.259991 12.7802 0.259991 12.94 0.269922C14.0439 0.271252 15.1163 0.637867 15.99 1.31259C16.8638 1.98732 17.4896 2.93222 17.77 3.99992C18.18 5.61992 19.04 8.99992 19.05 8.99992C19.1498 9.34915 19.2134 9.7077 19.24 10.0699C19.2653 10.5411 19.1951 11.0126 19.0336 11.456C18.872 11.8993 18.6225 12.3055 18.3 12.6499ZM12.94 2.23992H12.67H12.56L12.09 2.32992L10.71 2.60992L7.71 3.24992V11.9199C8.14 12.5899 8.59 13.2599 9.04 13.9199C9.49 14.5799 10 15.3299 10.47 15.9999C10.627 16.2495 10.7418 16.5231 10.81 16.8099L11.22 18.2299L11.33 18.6199L11.5 19.2199L11.56 19.4499V19.5499V19.5999C11.5571 19.6299 11.5571 19.66 11.56 19.6899C11.7805 19.6397 11.9735 19.5074 12.1 19.3199C12.3391 18.9693 12.4963 18.5695 12.56 18.1499C12.6869 17.3075 12.6289 16.4476 12.39 15.6299C12.21 14.9299 11.67 12.9899 11.67 12.9899C11.6282 12.8423 11.6208 12.6871 11.6486 12.5363C11.6763 12.3854 11.7384 12.243 11.83 12.1199C11.9242 11.9963 12.0435 11.8941 12.18 11.8199C12.322 11.7573 12.4749 11.7233 12.63 11.7199H15.63C15.8377 11.726 16.0444 11.6885 16.2368 11.6099C16.4292 11.5314 16.603 11.4134 16.7471 11.2637C16.8911 11.114 17.0023 10.9357 17.0734 10.7405C17.1445 10.5452 17.174 10.3373 17.16 10.1299C17.1341 9.91014 17.0906 9.69277 17.03 9.47992C17.03 9.47992 16.16 6.08992 15.74 4.47992C15.5767 3.85483 15.216 3.29916 14.7115 2.89556C14.207 2.49197 13.5857 2.26202 12.94 2.23992ZM2.75 11.2399C2.74717 11.3063 2.75817 11.3726 2.78229 11.4346C2.80642 11.4965 2.84315 11.5528 2.89015 11.5998C2.93716 11.6468 2.99342 11.6835 3.05536 11.7076C3.1173 11.7318 3.18358 11.7428 3.25 11.7399H5.75V3.23992C5.75283 3.17351 5.74183 3.10723 5.71771 3.04528C5.69358 2.98334 5.65685 2.92708 5.60985 2.88008C5.56284 2.83307 5.50658 2.79634 5.44464 2.77221C5.3827 2.74809 5.31642 2.73709 5.25 2.73992H3.25C3.18358 2.73709 3.1173 2.74809 3.05536 2.77221C2.99342 2.79634 2.93716 2.83307 2.89015 2.88008C2.84315 2.92708 2.80642 2.98334 2.78229 3.04528C2.75817 3.10723 2.74717 3.17351 2.75 3.23992V11.2399Z\" fill=\"#ED2348\"\/>\n<\/svg>\n\n                 <h4>Cons<\/h4>\n              <\/div>\n      <div class=\"pro-con__content\">\n        <ul>\n<li>Takes time to set up<\/li>\n<li>Can cost money<\/li>\n<li>Less convenient to spend and trade your crypto<\/li>\n<\/ul>\n      <\/div>\n    <\/div>\n  <\/div>\n<\/div>\n\n\n<p>While crypto exchanges will keep your crypto in their own wallets, you can also open your own crypto wallet if you prefer to hold those keys yourself. After all, that&#8217;s the only way to have full control over how securely your crypto is stored.<\/p>\n\n\n\n<p>That said, crypto wallets aren&#8217;t foolproof. They&#8217;re still vulnerable to theft and hacking\u2014particularly &#8220;hot wallets,&#8221; which are those that rely on an internet connection. Using your own crypto wallet means you&#8217;re in charge of the safety of your crypto, so if you don&#8217;t trust yourself to keep your crypto secure, you might be tempted to leave it on an exchange.<\/p>\n\n\n\n<p>Accessing your crypto can be a bit trickier with a crypto wallet vs exchange as well. There are a number of hoops you have to jump through to open the wallet and transfer your crypto to it, and once it&#8217;s there, you generally can&#8217;t just spend or trade it in minutes. Some wallets, like mobile wallets, make spending and trading your crypto easier and faster than others. However, convenience is usually inversely related to security, and mobile wallets are one of the less secure methods for storing your crypto.<\/p>\n\n\n\n<h2 id='where-to-keep-your-crypto-crypto-exchange-vs-wallet' class=\"wp-block-heading\" id=\"h-where-to-keep-your-crypto-crypto-exchange-vs-wallet\">Where to keep your crypto: crypto exchange vs wallet<\/h2>\n\n\n\n<p>The crypto community is big on taking your crypto out of crypto exchanges and putting it in your own crypto wallet. When done properly, this is far more secure than leaving it on even the best crypto exchanges. While this requires jumping through a few extra hoops, they&#8217;re worth it if it means your investment isn&#8217;t at risk of being stolen.<\/p>\n\n\n\n<p>However, keeping your crypto in a crypto wallet does make it a little harder to access if you want to spend or trade it. If you plan on making a purchase with your crypto in the near future or you want to actively trade crypto, you can keep a small amount of crypto on the crypto exchange of your choice and store the rest in a secure external wallet.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Crypto exchanges like Coinbase and Binance make it easy to store your crypto, but keeping your coins in an external wallet is more secure. You&#8217;ve purchased some Bitcoin, Ethereum, or Cardano (or maybe you&#8217;re about to pull the trigger), and now you&#8217;re wondering where to keep it. After all, your Bank of America account isn&#8217;t [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":2569,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":true,"footnotes":""},"categories":[3],"tags":[22,56],"post_authors":[85],"class_list":["post-2565","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-articles","tag-cryptocurrency","tag-technology"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.1 (Yoast SEO v25.2) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Crypto Wallet vs Exchange: Where to Stash Your Crypto<\/title>\n<meta name=\"description\" content=\"Crypto exchanges like Coinbase and Binance make it easy to store your crypto, but keeping your coins in an external wallet is more secure.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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Matter.","publisher":{"@id":"https:\/\/moneymade.io\/learn\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/moneymade.io\/learn\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/moneymade.io\/learn\/#organization","name":"MoneyMade","url":"https:\/\/moneymade.io\/learn\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/moneymade.io\/learn\/#\/schema\/logo\/image\/","url":"https:\/\/moneymade.io\/learn\/wp-content\/uploads\/2025\/05\/Copy-of-MoneyMade-Icon-Default.svg","contentUrl":"https:\/\/moneymade.io\/learn\/wp-content\/uploads\/2025\/05\/Copy-of-MoneyMade-Icon-Default.svg","width":96,"height":96,"caption":"MoneyMade"},"image":{"@id":"https:\/\/moneymade.io\/learn\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/moneymade.io\/learn\/#\/schema\/person\/8c0c0c37e0c31b81a77ea024f0085a4b","name":"nick@klaymedia.com","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/moneymade.io\/learn\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/55886835a570cf0ebb443912af4176b642ef8a6a841026598d95ef9d3aaf08ac?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/55886835a570cf0ebb443912af4176b642ef8a6a841026598d95ef9d3aaf08ac?s=96&d=mm&r=g","caption":"nick@klaymedia.com"},"url":"https:\/\/moneymade.io\/learn\/author\/nickklaymedia-com\/"}]}},"fig_blocks":[{"blockName":"core\/paragraph","attrs":[],"innerBlocks":[],"innerHTML":"\n<p><strong><em>Crypto exchanges like Coinbase and Binance make it easy to store your crypto, but keeping your coins in an external wallet is more secure.<\/em><\/strong><\/p>\n","innerContent":["\n<p><strong><em>Crypto exchanges like Coinbase and Binance make it easy to store your crypto, but keeping your coins in an external wallet is more secure.<\/em><\/strong><\/p>\n"]},{"blockName":null,"attrs":[],"innerBlocks":[],"innerHTML":"\n\n","innerContent":["\n\n"]},{"blockName":"core\/columns","attrs":[],"innerBlocks":[{"blockName":"core\/column","attrs":{"width":"10%"},"innerBlocks":[],"innerHTML":"\n<div class=\"wp-block-column\" style=\"flex-basis:10%\"><\/div>\n","innerContent":["\n<div class=\"wp-block-column\" style=\"flex-basis:10%\"><\/div>\n"]},{"blockName":"core\/column","attrs":{"width":"80%"},"innerBlocks":[{"blockName":"core\/image","attrs":[],"innerBlocks":[],"innerHTML":"\n<figure class=\"wp-block-image\"><img src=\"https:\/\/moneymade.io\/learn\/wp-content\/uploads\/2025\/05\/Money_Made_Crypto_Wallet_Exange_Article_MO_b610c94cf8.png\" alt=\"Crypto Wallet vs Exchange: Where to Stash Your Crypto\"\/><\/figure>\n","innerContent":["\n<figure class=\"wp-block-image\"><img src=\"https:\/\/moneymade.io\/learn\/wp-content\/uploads\/2025\/05\/Money_Made_Crypto_Wallet_Exange_Article_MO_b610c94cf8.png\" alt=\"Crypto Wallet vs Exchange: Where to Stash Your Crypto\"\/><\/figure>\n"]}],"innerHTML":"\n<div class=\"wp-block-column\" style=\"flex-basis:80%\"><\/div>\n","innerContent":["\n<div class=\"wp-block-column\" style=\"flex-basis:80%\">",null,"<\/div>\n"]},{"blockName":"core\/column","attrs":{"width":"10%"},"innerBlocks":[],"innerHTML":"\n<div class=\"wp-block-column\" style=\"flex-basis:10%\"><\/div>\n","innerContent":["\n<div class=\"wp-block-column\" style=\"flex-basis:10%\"><\/div>\n"]}],"innerHTML":"\n<div class=\"wp-block-columns\">\n\n\n\n<\/div>\n","innerContent":["\n<div class=\"wp-block-columns\">",null,"\n\n",null,"\n\n",null,"<\/div>\n"]},{"blockName":null,"attrs":[],"innerBlocks":[],"innerHTML":"\n\n","innerContent":["\n\n"]},{"blockName":"core\/paragraph","attrs":[],"innerBlocks":[],"innerHTML":"\n<p>You've purchased some Bitcoin, Ethereum, or Cardano (or maybe you're about to pull the trigger), and now you're wondering where to keep it. After all, your Bank of America account isn't an option.<\/p>\n","innerContent":["\n<p>You've purchased some Bitcoin, Ethereum, or Cardano (or maybe you're about to pull the trigger), and now you're wondering where to keep it. After all, your Bank of America account isn't an option.<\/p>\n"]},{"blockName":null,"attrs":[],"innerBlocks":[],"innerHTML":"\n\n","innerContent":["\n\n"]},{"blockName":"core\/paragraph","attrs":[],"innerBlocks":[],"innerHTML":"\n<p>Storing your crypto isn't as straightforward as stashing your cash in a savings account. You can keep it in the crypto exchange where you bought it, but that can leave it open to cyber attacks, theft, and loss. Or, you could move it to a safer crypto wallet, but that can make it harder to access.<\/p>\n","innerContent":["\n<p>Storing your crypto isn't as straightforward as stashing your cash in a savings account. You can keep it in the crypto exchange where you bought it, but that can leave it open to cyber attacks, theft, and loss. Or, you could move it to a safer crypto wallet, but that can make it harder to access.<\/p>\n"]},{"blockName":null,"attrs":[],"innerBlocks":[],"innerHTML":"\n\n","innerContent":["\n\n"]},{"blockName":"core\/paragraph","attrs":[],"innerBlocks":[],"innerHTML":"\n<p>If you're going to invest in crypto, whether casually or with the hopes of retiring on a mountain of Dogecoin, you need to make sure you're storing your future fortune safely and securely. When it comes to deciding between your two options, a crypto wallet vs exchange, here's what you need to know.<\/p>\n","innerContent":["\n<p>If you're going to invest in crypto, whether casually or with the hopes of retiring on a mountain of Dogecoin, you need to make sure you're storing your future fortune safely and securely. When it comes to deciding between your two options, a crypto wallet vs exchange, here's what you need to know.<\/p>\n"]},{"blockName":null,"attrs":[],"innerBlocks":[],"innerHTML":"\n\n","innerContent":["\n\n"]},{"blockName":"core\/heading","attrs":[],"innerBlocks":[],"innerHTML":"\n<h2 class=\"wp-block-heading\" id=\"h-what-is-a-crypto-exchange\">What is a crypto exchange?<\/h2>\n","innerContent":["\n<h2 class=\"wp-block-heading\" id=\"h-what-is-a-crypto-exchange\">What is a crypto exchange?<\/h2>\n"]},{"blockName":null,"attrs":[],"innerBlocks":[],"innerHTML":"\n\n","innerContent":["\n\n"]},{"blockName":"core\/paragraph","attrs":[],"innerBlocks":[],"innerHTML":"\n<p>A cryptocurrency exchange is a platform where you can buy, sell, and trade various cryptocurrencies. These crypto exchanges will store your crypto for you unless you decide to withdraw it. For example, you can buy Bitcoin with US dollars on a crypto exchange, and you can keep your Bitcoin on that exchange. You could also convert some of your Bitcoin to another cryptocurrency, like Ethereum, or you could eventually withdraw it to an external wallet or convert it back to USD.&nbsp;<\/p>\n","innerContent":["\n<p>A cryptocurrency exchange is a platform where you can buy, sell, and trade various cryptocurrencies. These crypto exchanges will store your crypto for you unless you decide to withdraw it. For example, you can buy Bitcoin with US dollars on a crypto exchange, and you can keep your Bitcoin on that exchange. You could also convert some of your Bitcoin to another cryptocurrency, like Ethereum, or you could eventually withdraw it to an external wallet or convert it back to USD.&nbsp;<\/p>\n"]},{"blockName":null,"attrs":[],"innerBlocks":[],"innerHTML":"\n\n","innerContent":["\n\n"]},{"blockName":"core\/paragraph","attrs":[],"innerBlocks":[],"innerHTML":"\n<p>Different crypto exchanges charge different fees for each transaction and not all cryptocurrencies are supported, although the biggest crypto exchanges support hundreds of different tokens. Some of the most popular crypto exchanges include <a href=\"https:\/\/moneymade.io\/discover\/coinbase\">Coinbase<\/a>, Binance, <a href=\"https:\/\/moneymade.io\/discover\/kraken\">Kraken<\/a>, and <a href=\"https:\/\/moneymade.io\/discover\/gemini\">Gemini<\/a>.<\/p>\n","innerContent":["\n<p>Different crypto exchanges charge different fees for each transaction and not all cryptocurrencies are supported, although the biggest crypto exchanges support hundreds of different tokens. Some of the most popular crypto exchanges include <a href=\"https:\/\/moneymade.io\/discover\/coinbase\">Coinbase<\/a>, Binance, <a href=\"https:\/\/moneymade.io\/discover\/kraken\">Kraken<\/a>, and <a href=\"https:\/\/moneymade.io\/discover\/gemini\">Gemini<\/a>.<\/p>\n"]},{"blockName":null,"attrs":[],"innerBlocks":[],"innerHTML":"\n\n","innerContent":["\n\n"]},{"blockName":"core\/heading","attrs":[],"innerBlocks":[],"innerHTML":"\n<h2 class=\"wp-block-heading\" id=\"h-pros-and-cons-of-using-a-crypto-exchange-to-store-your-crypto\">Pros and cons of using a crypto exchange to store your crypto<\/h2>\n","innerContent":["\n<h2 class=\"wp-block-heading\" id=\"h-pros-and-cons-of-using-a-crypto-exchange-to-store-your-crypto\">Pros and cons of using a crypto exchange to store your crypto<\/h2>\n"]},{"blockName":null,"attrs":[],"innerBlocks":[],"innerHTML":"\n\n","innerContent":["\n\n"]},{"blockName":"acf\/pro-con","attrs":{"name":"acf\/pro-con","data":{"pro_icon":"","_pro_icon":"field_652d6dd6b35e4","pro_title":"Pros","_pro_title":"field_652d6df3b35e5","pro_content":"<ul>\r\n \t<li>Easy and convenient<\/li>\r\n \t<li>Cheaper than a hardware wallet<\/li>\r\n \t<li>Necessary for active traders<\/li>\r\n<\/ul>","_pro_content":"field_652d6e03b35e6","con_icon":"","_con_icon":"field_652d6e0eb35e7","con_title":"Cons","_con_title":"field_652d6e19b35e8","con_content":"<ul>\r\n \t<li>Can be less secure<\/li>\r\n \t<li>Vulnerable to cyber attacks<\/li>\r\n<\/ul>","_con_content":"field_652d6e20b35e9"},"mode":"edit"},"innerBlocks":[],"innerHTML":"","innerContent":[]},{"blockName":null,"attrs":[],"innerBlocks":[],"innerHTML":"\n\n","innerContent":["\n\n"]},{"blockName":"core\/paragraph","attrs":[],"innerBlocks":[],"innerHTML":"\n<p>When you buy tokens on a crypto exchange, you can leave your crypto on that exchange. This is the easiest storage option, but it can be risky. When you keep your crypto on a crypto exchange you don't actually own it\u2014the exchange does.<\/p>\n","innerContent":["\n<p>When you buy tokens on a crypto exchange, you can leave your crypto on that exchange. This is the easiest storage option, but it can be risky. When you keep your crypto on a crypto exchange you don't actually own it\u2014the exchange does.<\/p>\n"]},{"blockName":null,"attrs":[],"innerBlocks":[],"innerHTML":"\n\n","innerContent":["\n\n"]},{"blockName":"core\/paragraph","attrs":[],"innerBlocks":[],"innerHTML":"\n<p>Crypto lives on the blockchain technology it uses, and you access it using private and public keys. Your private key, which is an encrypted code, is like the locked safe to your crypto that keeps it secure. Crypto enthusiasts like to say that the holder of the keys is the real owner of the crypto they correspond to, because that's who controls how securely that crypto is stored.&nbsp;<\/p>\n","innerContent":["\n<p>Crypto lives on the blockchain technology it uses, and you access it using private and public keys. Your private key, which is an encrypted code, is like the locked safe to your crypto that keeps it secure. Crypto enthusiasts like to say that the holder of the keys is the real owner of the crypto they correspond to, because that's who controls how securely that crypto is stored.&nbsp;<\/p>\n"]},{"blockName":null,"attrs":[],"innerBlocks":[],"innerHTML":"\n\n","innerContent":["\n\n"]},{"blockName":"core\/paragraph","attrs":[],"innerBlocks":[],"innerHTML":"\n<p>When you keep your crypto on a crypto exchange, your crypto is still stored in a wallet, but the wallet is owned by the exchange. That means you don't get the keys to your crypto either\u2014the exchange keeps them. If that exchange is compromised, your crypto could be too. According to the BBC, at least $2.1 billion in crypto kept on crypto exchanges has been stolen by hackers since 2014. There's also a risk of internal mismanagement within the crypto exchange.<\/p>\n","innerContent":["\n<p>When you keep your crypto on a crypto exchange, your crypto is still stored in a wallet, but the wallet is owned by the exchange. That means you don't get the keys to your crypto either\u2014the exchange keeps them. If that exchange is compromised, your crypto could be too. According to the BBC, at least $2.1 billion in crypto kept on crypto exchanges has been stolen by hackers since 2014. There's also a risk of internal mismanagement within the crypto exchange.<\/p>\n"]},{"blockName":null,"attrs":[],"innerBlocks":[],"innerHTML":"\n\n","innerContent":["\n\n"]},{"blockName":"core\/paragraph","attrs":[],"innerBlocks":[],"innerHTML":"\n<p>That said, keeping your crypto on a crypto exchange is convenient in more than one way. Not only do you not have to worry about going through the process of opening a crypto wallet and moving your crypto, but you have immediate access to using your crypto balance on the exchange. If you're actively trading, for example, the crypto you want to trade will need to be on your crypto exchange account.<\/p>\n","innerContent":["\n<p>That said, keeping your crypto on a crypto exchange is convenient in more than one way. Not only do you not have to worry about going through the process of opening a crypto wallet and moving your crypto, but you have immediate access to using your crypto balance on the exchange. If you're actively trading, for example, the crypto you want to trade will need to be on your crypto exchange account.<\/p>\n"]},{"blockName":null,"attrs":[],"innerBlocks":[],"innerHTML":"\n\n","innerContent":["\n\n"]},{"blockName":"core\/heading","attrs":[],"innerBlocks":[],"innerHTML":"\n<h2 class=\"wp-block-heading\" id=\"h-what-is-a-crypto-wallet\">What is a crypto wallet?<\/h2>\n","innerContent":["\n<h2 class=\"wp-block-heading\" id=\"h-what-is-a-crypto-wallet\">What is a crypto wallet?<\/h2>\n"]},{"blockName":null,"attrs":[],"innerBlocks":[],"innerHTML":"\n\n","innerContent":["\n\n"]},{"blockName":"core\/paragraph","attrs":[],"innerBlocks":[],"innerHTML":"\n<p>A crypto wallet stores the keys that allow you to access and manage your crypto. It's less like a physical wallet and more like a highly secure bank account. There are many different types of crypto wallets, including both software and hardware wallets.<\/p>\n","innerContent":["\n<p>A crypto wallet stores the keys that allow you to access and manage your crypto. It's less like a physical wallet and more like a highly secure bank account. There are many different types of crypto wallets, including both software and hardware wallets.<\/p>\n"]},{"blockName":null,"attrs":[],"innerBlocks":[],"innerHTML":"\n\n","innerContent":["\n\n"]},{"blockName":"core\/paragraph","attrs":[],"innerBlocks":[],"innerHTML":"\n<p>Hardware wallets are widely considered to be the most secure way to store crypto because they aren't connected to the internet and therefore aren't vulnerable to cyber attacks. These small portable devices cost around $40 to $180. There are also paper wallets, which are simply printed pieces of paper with your keys on them, often in the form of a QR code. These are one-time use and have largely been replaced by hardware wallets.<\/p>\n","innerContent":["\n<p>Hardware wallets are widely considered to be the most secure way to store crypto because they aren't connected to the internet and therefore aren't vulnerable to cyber attacks. These small portable devices cost around $40 to $180. There are also paper wallets, which are simply printed pieces of paper with your keys on them, often in the form of a QR code. These are one-time use and have largely been replaced by hardware wallets.<\/p>\n"]},{"blockName":null,"attrs":[],"innerBlocks":[],"innerHTML":"\n\n","innerContent":["\n\n"]},{"blockName":"core\/paragraph","attrs":[],"innerBlocks":[],"innerHTML":"\n<p>Software wallets include web-based wallets, mobile wallets, and desktop wallets. Of these three, desktop wallets (which are downloaded to your desktop in the form of a software program) are typically preferable. You don't need to connect to the internet to access your crypto with a desktop wallet, so they're more secure.<\/p>\n","innerContent":["\n<p>Software wallets include web-based wallets, mobile wallets, and desktop wallets. Of these three, desktop wallets (which are downloaded to your desktop in the form of a software program) are typically preferable. You don't need to connect to the internet to access your crypto with a desktop wallet, so they're more secure.<\/p>\n"]},{"blockName":null,"attrs":[],"innerBlocks":[],"innerHTML":"\n\n","innerContent":["\n\n"]},{"blockName":"core\/heading","attrs":[],"innerBlocks":[],"innerHTML":"\n<h2 class=\"wp-block-heading\" id=\"h-pros-and-cons-of-using-a-crypto-wallet\">Pros and cons of using a crypto wallet<\/h2>\n","innerContent":["\n<h2 class=\"wp-block-heading\" id=\"h-pros-and-cons-of-using-a-crypto-wallet\">Pros and cons of using a crypto wallet<\/h2>\n"]},{"blockName":null,"attrs":[],"innerBlocks":[],"innerHTML":"\n\n","innerContent":["\n\n"]},{"blockName":"acf\/pro-con","attrs":{"name":"acf\/pro-con","data":{"pro_icon":"","_pro_icon":"field_652d6dd6b35e4","pro_title":"Pros","_pro_title":"field_652d6df3b35e5","pro_content":"<ul>\r\n \t<li>More secure<\/li>\r\n \t<li>You have full control over your crypto<\/li>\r\n<\/ul>","_pro_content":"field_652d6e03b35e6","con_icon":"","_con_icon":"field_652d6e0eb35e7","con_title":"Cons","_con_title":"field_652d6e19b35e8","con_content":"<ul>\r\n \t<li>Takes time to set up<\/li>\r\n \t<li>Can cost money<\/li>\r\n \t<li>Less convenient to spend and trade your crypto<\/li>\r\n<\/ul>","_con_content":"field_652d6e20b35e9"},"mode":"edit"},"innerBlocks":[],"innerHTML":"","innerContent":[]},{"blockName":null,"attrs":[],"innerBlocks":[],"innerHTML":"\n\n","innerContent":["\n\n"]},{"blockName":"core\/paragraph","attrs":[],"innerBlocks":[],"innerHTML":"\n<p>While crypto exchanges will keep your crypto in their own wallets, you can also open your own crypto wallet if you prefer to hold those keys yourself. After all, that's the only way to have full control over how securely your crypto is stored.<\/p>\n","innerContent":["\n<p>While crypto exchanges will keep your crypto in their own wallets, you can also open your own crypto wallet if you prefer to hold those keys yourself. After all, that's the only way to have full control over how securely your crypto is stored.<\/p>\n"]},{"blockName":null,"attrs":[],"innerBlocks":[],"innerHTML":"\n\n","innerContent":["\n\n"]},{"blockName":"core\/paragraph","attrs":[],"innerBlocks":[],"innerHTML":"\n<p>That said, crypto wallets aren't foolproof. They're still vulnerable to theft and hacking\u2014particularly \"hot wallets,\" which are those that rely on an internet connection. Using your own crypto wallet means you're in charge of the safety of your crypto, so if you don't trust yourself to keep your crypto secure, you might be tempted to leave it on an exchange.<\/p>\n","innerContent":["\n<p>That said, crypto wallets aren't foolproof. They're still vulnerable to theft and hacking\u2014particularly \"hot wallets,\" which are those that rely on an internet connection. Using your own crypto wallet means you're in charge of the safety of your crypto, so if you don't trust yourself to keep your crypto secure, you might be tempted to leave it on an exchange.<\/p>\n"]},{"blockName":null,"attrs":[],"innerBlocks":[],"innerHTML":"\n\n","innerContent":["\n\n"]},{"blockName":"core\/paragraph","attrs":[],"innerBlocks":[],"innerHTML":"\n<p>Accessing your crypto can be a bit trickier with a crypto wallet vs exchange as well. There are a number of hoops you have to jump through to open the wallet and transfer your crypto to it, and once it's there, you generally can't just spend or trade it in minutes. Some wallets, like mobile wallets, make spending and trading your crypto easier and faster than others. However, convenience is usually inversely related to security, and mobile wallets are one of the less secure methods for storing your crypto.<\/p>\n","innerContent":["\n<p>Accessing your crypto can be a bit trickier with a crypto wallet vs exchange as well. There are a number of hoops you have to jump through to open the wallet and transfer your crypto to it, and once it's there, you generally can't just spend or trade it in minutes. Some wallets, like mobile wallets, make spending and trading your crypto easier and faster than others. However, convenience is usually inversely related to security, and mobile wallets are one of the less secure methods for storing your crypto.<\/p>\n"]},{"blockName":null,"attrs":[],"innerBlocks":[],"innerHTML":"\n\n","innerContent":["\n\n"]},{"blockName":"core\/heading","attrs":[],"innerBlocks":[],"innerHTML":"\n<h2 class=\"wp-block-heading\" id=\"h-where-to-keep-your-crypto-crypto-exchange-vs-wallet\">Where to keep your crypto: crypto exchange vs wallet<\/h2>\n","innerContent":["\n<h2 class=\"wp-block-heading\" id=\"h-where-to-keep-your-crypto-crypto-exchange-vs-wallet\">Where to keep your crypto: crypto exchange vs wallet<\/h2>\n"]},{"blockName":null,"attrs":[],"innerBlocks":[],"innerHTML":"\n\n","innerContent":["\n\n"]},{"blockName":"core\/paragraph","attrs":[],"innerBlocks":[],"innerHTML":"\n<p>The crypto community is big on taking your crypto out of crypto exchanges and putting it in your own crypto wallet. When done properly, this is far more secure than leaving it on even the best crypto exchanges. While this requires jumping through a few extra hoops, they're worth it if it means your investment isn't at risk of being stolen.<\/p>\n","innerContent":["\n<p>The crypto community is big on taking your crypto out of crypto exchanges and putting it in your own crypto wallet. When done properly, this is far more secure than leaving it on even the best crypto exchanges. While this requires jumping through a few extra hoops, they're worth it if it means your investment isn't at risk of being stolen.<\/p>\n"]},{"blockName":null,"attrs":[],"innerBlocks":[],"innerHTML":"\n\n","innerContent":["\n\n"]},{"blockName":"core\/paragraph","attrs":[],"innerBlocks":[],"innerHTML":"\n<p>However, keeping your crypto in a crypto wallet does make it a little harder to access if you want to spend or trade it. If you plan on making a purchase with your crypto in the near future or you want to actively trade crypto, you can keep a small amount of crypto on the crypto exchange of your choice and store the rest in a secure external wallet.<\/p>\n","innerContent":["\n<p>However, keeping your crypto in a crypto wallet does make it a little harder to access if you want to spend or trade it. If you plan on making a purchase with your crypto in the near future or you want to actively trade crypto, you can keep a small amount of crypto on the crypto exchange of your choice and store the rest in a secure external wallet.<\/p>\n"]}],"_links":{"self":[{"href":"https:\/\/moneymade.io\/learn\/wp-json\/wp\/v2\/posts\/2565","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/moneymade.io\/learn\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/moneymade.io\/learn\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/moneymade.io\/learn\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/moneymade.io\/learn\/wp-json\/wp\/v2\/comments?post=2565"}],"version-history":[{"count":0,"href":"https:\/\/moneymade.io\/learn\/wp-json\/wp\/v2\/posts\/2565\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/moneymade.io\/learn\/wp-json\/wp\/v2\/media\/2569"}],"wp:attachment":[{"href":"https:\/\/moneymade.io\/learn\/wp-json\/wp\/v2\/media?parent=2565"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/moneymade.io\/learn\/wp-json\/wp\/v2\/categories?post=2565"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/moneymade.io\/learn\/wp-json\/wp\/v2\/tags?post=2565"},{"taxonomy":"post_authors","embeddable":true,"href":"https:\/\/moneymade.io\/learn\/wp-json\/wp\/v2\/post_authors?post=2565"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}