Your key message is strong: control of the private key is the real ownership, with Bitcoin. Non-custodial wallets align much more closely with such principle.
That said, it is not usually black and white. Custodial platforms such like Binance or Coinbase provides convenience, liquidity and recovery that is easier, which may matter for starters or traders that are active.
On a personal view, I see a hybrid method as practical: long-term holdings in a protected non-custodial wallet(more of hardware), and just trading capital on exchanges. The saying "not your keys, not your coins" is true, yet self custody equally demands discipline and proper backup. Freedom come with responsibility.
The responsibility of freedom might bear the burden of proper security of which means a cold wallet could also be hacked since it gets connected to the Internet for a brief period before completing your transactions. That said, it is not usually black and white. Custodial platforms such like Binance or Coinbase provides convenience, liquidity and recovery that is easier, which may matter for starters or traders that are active.
On a personal view, I see a hybrid method as practical: long-term holdings in a protected non-custodial wallet(more of hardware), and just trading capital on exchanges. The saying "not your keys, not your coins" is true, yet self custody equally demands discipline and proper backup. Freedom come with responsibility.
I prefer an air gapped wallet of which ensure better safety from hackers who are just waiting to steal access to your funds.
True responsibility of course demand good financial knowledge and applications, emotional control and discipline and ultimately consistent effort with proper research and reasoning skills to help prevent loss of any kind.
Lemme make a correction there, cold wallets are basically offline/hardware wallets, they operate and function offline, maybe you meant to say hot wallet instead, and airgapped wallet is a type of cold wallet to, cold wallet basically a setup in different ways, but the main idea is that it is not directly connected to the Internet. And you can't easily hack a cold wallet, cause basically it is not connected to the Internet. So I hope you make your corrections.
Although, this post is not talking about hot and cold wallet, which are basically categories of a Non-Custodial wallet, we are talking about custodial and non-custodial wallet, but your input is encouraged and appreciated.
Ofc I own my coins there ain’t no third party . I don’t hold on exchange (remember not your key not your coin I prefer holding with noncustodial wallet . It makes things less complex and also is more secure than it just sitting down in some CEX account .
Many still hold some of their good assets there , not something I encouraged though . Normally the CEX meant for purchasing coins without any stress while you hold with your wallet keeping your key safe .
Many still hold some of their good assets there , not something I encouraged though . Normally the CEX meant for purchasing coins without any stress while you hold with your wallet keeping your key safe .
From what I have come to understand in crypto currency is that you don't own your coins so it's not advisable to store your coins on an exchange that, is why crypto experts always says not your coins this is because your coins are not totally safe on an exchange no matter how popular such an exchange is. I will advise that the only coins that should be left on an exchange should be the once that are ment for trading for those who into crypto trading and the once you wants to sell shortly. Other wise always store your crypto assets on a cold wallet and secure your keys safely.
So you guys are also supporting the hybrid system, I also agree with that, and I also mentioned it on my OP in the conclusion section, that you should hodl, accumulate, and store in a non custodial wallet, and when you want to trade, or carry out any other form of transactions, you can transfer to the custodial and carry it out there.
With this method you can have best of both worlds, utilizing the features provided by both services,.so it really is a good approach to hodling your coins.
