Looking for advice regarding wallets

[brawdias]

So if I want to hold is better to keep my Bitcoin in a wallet or in an exchange ? What's the difference ?

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[NeuroticFish]

So if I want to hold is better to keep my Bitcoin in a wallet or in an exchange ? What's the difference ?

If you want to hold the answer is clearly wallet.
The cheapest option is paper wallets you can build and print yourself, just make sure you do all that offline and in a safe environment.
Of course, hardware wallets are a common option. Air gaped computer is another very good option, just it may be a bit expensive (PC) or technical (raspberry PI).

The difference: an exchange only tells you "that's your money". If they get bankrupt, if they get hacked and so on, they'll tell you "sorry, no more money for you".
If you have a wallet you are the owner of the private key for the addresses the wallet contains. As long as the seed that generates those keys or the keys themselves are safe and backed up and as long as the computer you use to spend those money is safe, your funds are safe.

I said about paper wallet because after you've generated that you can actually keep the private key on paper for real. And you just check on the internet the money that came in, with publicly available info, without jeopardizing the safety of your funds.

[hase0278]

So if I want to hold is better to keep my Bitcoin in a wallet or in an exchange ?

You should hold your Bitcoin in a wallet, preferably a ledger nano S or trezor for more security. Another difference of holding BTC o exchanges is that the account you use to hold your Bitcoin in an exchange is easier to hack than a wallet who have seeds(private keys) that cannot be easily guessed(although it can be obtained via phishing if you are not careful enough).

[mk4]

Always read pinned threads and read around before asking questions or advice because chances are, your question/request has already been asked in the past. Topic: [General] Bitcoin Wallets - Which, what, why?: https://bitcointalk.org/index.php?topic=1631151.0

[Thirdspace]

So if I want to hold is better to keep my Bitcoin in a wallet or in an exchange ? What's the difference ?

for short answer: keep your bitcoin in a wallet that you own/control its private key(s)
if you store in an exchange, you will lose it when anything bad happens to that exchange
for more thorough detailed explanations read the stickied as mentioned by mjglqw

Always read pinned threads and read around before asking questions or advice because chances are, your question/request has already been asked in the past. Topic: [General] Bitcoin Wallets - Which, what, why?: https://bitcointalk.org/index.php?topic=1631151.0

[Andrei Belmega]

So if I want to hold is better to keep my Bitcoin in a wallet or in an exchange ? What's the difference ?

Hello!

It is very well known that you should not keep your crypto on an exchange.
My advice is to get very well informed before buying crypto.
I personally use MEW and a Nano S Ledger. I am very satisfied and never had any problems.

Best of luck!

[superving]

So if I want to hold is better to keep my Bitcoin in a wallet or in an exchange ? What's the difference ?

Hardware wallet is the best option if you want to hodl your bitcoin, exchanges is not a good idea to place your bitcoin cause once the exchange has been hacked and stole all the funds on that exchange there is nothing you can do to recover it.

[LTU_btc]

You need to use wallet which gives full control of your BTC. On exchanges you don't have control of your coins. Exchanges aren't designed to be wallets, they only gives deposit addresses for every account. If exchange will turn into scam, bankrupt or will be hacked you will lose all money that you had on exchange. Don't use exchange as your wallet, keep money only that you need for a trading on exchange.
And I don't recommend to use online wallets. It would be best to buy hardware wallet or make paper wallet. Electrum desktop wallet can be a good option, but you must be careful to avoid malware which can steal your BTC. Shortly, read sticked topic on bitcointalk and before using wallet read tips how touse that wallet properly and secure your BTC.

[aloofloofah]

You need to use wallet which gives full control of your BTC. On exchanges you don't have control of your coins. Exchanges aren't designed to be wallets, they only gives deposit addresses for every account. If exchange will turn into scam, bankrupt or will be hacked you will lose all money that you had on exchange. Don't use exchange as your wallet, keep money only that you need for a trading on exchange.
And I don't recommend to use online wallets. It would be best to buy hardware wallet or make paper wallet. Electrum desktop wallet can be a good option, but you must be careful to avoid malware which can steal your BTC. Shortly, read sticked topic on bitcointalk and before using wallet read tips how touse that wallet properly and secure your BTC.

Yes, there already had story about exit scam exchange in the past. Personnally, i try to keep my btc the less in exchange. keep my .dat on usb key with multiple copy in a bank.

[MintDice]

A wallet is definitely your more secure option. You can use an exchange to convert fiat currency into Bitcoin, and trade Bitcoin for a multitude of other cryptocurrencies in the market, but it's advisable to put your earnings into a wallet (hardware would be a good choice). If you want more information on which wallet works for you, you can check out our blog post about it here:

http://bit.ly/WalletGuide

Hope this helps