"NOT YOUR KEYS, NOT YOUR COINS" non custodian wallet are good storage for coins

[Cookdata]

This is the part I don't like about the government of my country. Law enforcement agencies don't know much about crypto. They usually perceive crypto users as scammers because they don't believe that people can make money from the crypto industry. Keeping large funds in exchanges is risky because the government can easily freeze them and start asking for the source of income.

To avoid government problems, it is safer to keep funds in a non-custodian wallet and gradually move funds to exchanges if you want to convert to fiat.  But keeping large funds in a centralised wallet is a no-go area.

I feel the law enforcement people knows this things but they turned blind eye because the government exposure is what they are following around. The Nigerian government hasn't for once show any concern about crypto, it's either they fight centralized exchanges with propaganda about money laundering or they built cases that will lead to dead zone, the central Bank isn't helping at all with the crypto thing because they are not transparent about the whole thing.

Last year, I saw a news where Custom official sieze crypto hardware wallet saying there are some group of people that are trying to coordinate terrorism in Nigeria and I was so ashame of the reporter, the people that confiscated the hardware wallet and other things, this is pure ignorance the government is showing the world and that's exactly what law enforcement are exploiting with people. Why would you say my Trezor safe3 wallet is for terrorism. Lmao 

[bhadz]

It's not that difficult to get a non custodial wallet, write out your seedphrase and store them in a secure place is it? So why would you want to risk the safety of your funds in the hands of centralized platforms? Let's try to play safe at all time.

Yes, it's not difficult to choose wallets that we can safely keep our coins. And people are risking their funds in centralized platforms due to the convenience that it offers. When the time comes when Bitcoin's price increases and they don't have to deal with some network traffic if ever it will exist at that time and they're free to sell it on that point of time when it reaches the peak. I think that's one reason why many still keeps their crypto in the exchanges for quicker dumping purposes and they won't have to deal with any network problems and sudden increase in the transaction fees.