Where do I keep crypto after buying it?

[ImThour]

2. Exchanges are safe and easy-to-use.

So just keep it in the exchange, most preferably Binance.

Recommending Binance? You never know when they will freeze your account, the chance is low but there's still a chance.

I think you forgot that Binance was the only exchange that paid billions worth of user funds when there was Binance FUD and people were saying Binance would get rekt.

Binance saw more than $3 billion in net withdrawals

https://decrypt.co/117155/binance-customer-withdrawals-exceed-3-billion-in-24-hours

Let me know of any exchange as of today which is capable of doing this.

I never expected this from a Legendary.

Doesn't matter what my forum rank is or what other members rank is, It's a personal opinion at the end of the day.

I have been using Binance since 2019 and it's working as good as a CEX.

[1714606750]

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[Cryptomultiplier]

Before you consider buying the crypto, you should firstly know what to do with it. Do you intend to reinvest the crypto or do you want to keep it intact for the time?
This questions would spur you to research what best way to invest, the methods to use and the quantity to acquire.
Also, if you intend to save or diversify the savings, you should research the best wallet to use for the kind of plan you have in mind. Will a cold wallet be better or which exchanges' wallet would be safer and easier to use?

The where and the how or broker to sell you the crypto should also be of concern. Research, research, research. Google and other investment sites got your back.

[bayu7adi]

Buying crypto through a broker is more dangerous than buying directly through an exchange. Besides the potential for exchange rate manipulation, the reputation of brokers, which is not as large as well-known exchanges, is also a special consideration so that we can be more careful. Brokers have their own regulations regarding asset holders. If the broker is fair, then the BTC or cryptocurrency you buy through the broker should be stored in a wallet that you fully control. Ask the broker first regarding this crypto asset storage issue before buying through them.

> If I may give a suggestion, the best advice is to create your own crypto wallet. You can use Electrum to store Bitcoin assets, which currently has the best reputation for security.
> Buy Bitcoin or crypto assets that you want through well-known exchanges, such as Binance, KuCoin, ByBit, and so on.
> Withdraw the newly purchased assets to your personal wallet to have full control.

[darkangel11]

I think you forgot that Binance was the only exchange that paid billions worth of user funds when there was Binance FUD and people were saying Binance would get rekt.

Why are you defending them? CZ is shady as fuck with all the allegations against him circulating in the web.
I wouldn't be surprised if the rumors about him trading on his own exchange were true.

I have been using Binance since 2019 and it's working as good as a CEX.

And it doesn't mean anything. Before the collapse of FTX or MtGox they had thousands of happy customers ready to vouch for them. Are you going to take responsibility for any losses of people who will start trading there after reading your posts?
Even if you're friends with CZ, I wouldn't recommend a business that I don't operate myself to anyone. I don't recommend things that I don't control, but you seem to have a different approach.

[Dr.Bitcoin_Strange]

I think everything has already been advised, but I also wish to tell you not to trust some random PMs you will get on this forum, where they are offering to help. Always keep your eyes open.

Also, when buying Bitcoin, always prefer a decentralized exchange over a centralized exchange. KYC platforms pose some risk to Bitcoin users.

[rozak]

If I want to buy crypto, then I believe I have to go to a broker or an exchange (assuming I don't know someone who wants to sell me some). So I've got to pay them. Are they regulated enough that I can be confident that they won't just run off with my money once I've paid them? Can I pay be credit card? Then, once I have bought from the broker or exchange, do they transfer the crypto to a wallet that I control? Or do they keep the crypto in their own wallet as a custodian? If so, again, how can I trust them?

Also, is there an advantage to buying from a broker over buying on an exchange?

Thanks

when you buy crypto assets on the Exchange, you can connect the exchange with your card, so you will make transactions easily. on youtube you can see how to do it in full. just choose an exchange that does support your credit card.
after making a purchase, all you can do is make a withdrawal to your personal wallet address independently. and you will get your crypto assets in your control. you only need to set up an exchange account and your personal wallet. and also save your wallet seeds carefully.

[Sandra_hakeem]

If I want to buy crypto, then I believe I have to go to a broker or an exchange (assuming I don't know someone who wants to sell me some). So I've got to pay them. Are they regulated enough that I can be confident that they won't just run off with my money once I've paid them? Can I pay be credit card? Then, once I have bought from the broker or exchange, do they transfer the crypto to a wallet that I control? Or do they keep the crypto in their own wallet as a custodian? If so, again, how can I trust them?

Is this supposed to be a question or an elaboration on how the whole P2P system works? I can't explain anything as you don't have a specific question or area of perplexity. Yes, everything you said is well read; I mean, if you haven't had a pre-knowledge about the whole system, how the do you explain everything with detailed terms??

Also, is there an advantage to buying from a broker over buying on an exchange?

Although it's preferred to buy from a broker over large demands, I cannot advise a newbie to do so... most centralized exchanges don't even charge much tnx fees and I see it as the safest centralized P2P..
A non-custodial wallet is the best for a start.

Sandra 🧑‍🦰

[Aikidoka]

Are they regulated enough that I can be confident that they won't just run off with my money once I've paid them? Can I pay be credit card?

There are regulations in place to prevent you from being scammed when dealing with an unknown person. One option is to use a trusted third party person as an escrow or to buy from someone who is already reputable and trustworthy (could be a DT member here in bitcointalk) , though this can still be a bit risky.

The best option is to buy your crypto from trusted exchanges like( Coinbase, Binance, etc.. ).

You can also use P2P marketplaces, but it is important to ensure that the marketplace is trustworthy and legitimate.

Then, once I have bought from the broker or exchange, do they transfer the crypto to a wallet that I control? Or do they keep the crypto in their own wallet as a custodian? If so, again, how can I trust them?

When you buy Bitcoin from an exchanger you provide your Bitcoin address, and they transfer the funds to your Bitcoin wallet after you make the payment. The exchanger will not keep the crypto you buy in their wallet unless you you want that. Once you buy your Bitcoin you will have full control over it and can use it however you want.

To ensure the trust when dealing, it is essential to do your research and choose a reputable exchange or seller.

[Rengga Jati]

If I want to buy crypto, then I believe I have to go to a broker or an exchange (assuming I don't know someone who wants to sell me some). So I've got to pay them. Are they regulated enough that I can be confident that they won't just run off with my money once I've paid them? Can I pay be credit card? Then, once I have bought from the broker or exchange, do they transfer the crypto to a wallet that I control? Or do they keep the crypto in their own wallet as a custodian? If so, again, how can I trust them?

Also, is there an advantage to buying from a broker over buying on an exchange?

Thanks

Buying crypto can be done in several places. They are in the Bitcoin ATM, crypto exchanges, and also P2P.
There are two types of Crypto exchange usually for beginers, the centralized (CEX) and decentralized (DEX). In CEX, you need to verify your identification buy using KYC process with comonly your photo and your ID Photo. But in DEX you don't need to do it.
Basically both Cex and Dex have uts positie and negative sides.
However in this case, one of the important things again is how to choose the trusted exchange. You can go to Binance, Kucoin, Kraken, Bitmart, PancakeSwap, or other top exchanges that are listed on Coin Market Cap. Never use small exchange moreover platform that promise you huge profits, they may be probably scammers.

Btw you can also buy crypto in P2P (Peer-to-peer), but ensure that yo find the trusted one, if not, you may go to scammer and your money may be lost. Never trust anyone that say they are real and will help you to invest your money in crypto, don't believe them easily. Check their reputation, moreover the ones that are in this forum.

Btw after buying the crypto, it is better to have personal wallet, not saving on any exchange because personal wallet, especially hardware will save your crypto much safer than the online wallets.

[imamusma]

If you are literally a beginner, I would suggest keeping it in the platform from where you bought it.

It shouldn't be the best advice for any non experience newbie, but I can assume the OP is a knowledgeable user from the way he phrased his question.

If the OP has a lot of budget and decides to buy bitcoins on a centralized exchange or elsewhere, then he should have a secure wallet to store his bitcoin. If he doesn't understand wallet hardware, then I think a wallet like Electrum can help him temporarily instead of trusting a centralized exchange to store his bitcoin.

Here is an important announcement for every exchange user, so it is worth considering when they want to store their assets online.

Reminder: do not keep your money in online accounts

[loopes]

Almost all the exchanges will allow you to buy and withdraw to your own custody. You can use Hardware wallet or if you can't afford one (that's cheap), you can use non custodial wallet to save your crypto.
I don't know if any exchange doesn't allow you to withdraw to your own wallet (all to my known allow), only Paypal doesn't allow if I'm correct.
Depending on where you live, you can use trusted exchanges like Kucoin, Coinbase, Binance and many more. Check out in coinmarketcap for the top cryptocurency exchanges.

Generally, Custodial Wallet on this crypto sphere is a storage of crypto currency that offer centralized service. This kind of storage such as centralized crypto currency exchanges. Binance is one of the best for this option, although i believe that there are many options out there. Binance has secure system and big volume. 

[ItsCrafty]

If I want to buy crypto, then I believe I have to go to a broker or an exchange (assuming I don't know someone who wants to sell me some). So I've got to pay them. Are they regulated enough that I can be confident that they won't just run off with my money once I've paid them? Can I pay be credit card? Then, once I have bought from the broker or exchange, do they transfer the crypto to a wallet that I control? Or do they keep the crypto in their own wallet as a custodian? If so, again, how can I trust them?  

I have not used broker so far but Centralized exchange are best option for buying crypto and i think now no need of broker because many exchange provide P2P which is more safe than broker. Big Cex like Binance and Coinbase are safe to buy crypto and you can trust on these exchange as they got many countries licence to run Exchange service there. You can pay via credit card in these exchanges and other payment options are also available.

In cex when you buy coin, these will be stored in custodian wallet where you have not access to phrase and completely controlled under exchange and you have to withdraw to own wallet. We cannot 100% trust on any exchange and even we cannot trust on crypto but million users and positive review show that these exchange are still working fine and our fund will be safe there

Also, is there an advantage to buying from a broker over buying on an exchange?

Thanks

I don't see any advantage of broker over Cex but i found that broker will charge fee for converting fiat into crypto the. why not we use P2P for this purpose where no charges will be collected for converting.

[swiftxi]

You will need binance.com , metamask addon for any browser.

[Wend]

...

Also, is there an advantage to buying from a broker over buying on an exchange?

Thanks

If you find a reliable and affordable broker, then it is an option where you can better keep your privacy. But if not, swap is the only option that you can use. But never store assets directly on those exchanges, use a non-custodial wallet, as it gives you full control over your assets. As many have mentioned, the hardware wallet is the best option we have and it's not too expensive to own. But if you still can't afford to buy it, we also have solutions like Electrum wallet or Metamask.

[Inwestour]

If I want to buy crypto, then I believe I have to go to a broker or an exchange (assuming I don't know someone who wants to sell me some). So I've got to pay them. Are they regulated enough that I can be confident that they won't just run off with my money once I've paid them? Can I pay be credit card? Then, once I have bought from the broker or exchange, do they transfer the crypto to a wallet that I control? Or do they keep the crypto in their own wallet as a custodian? If so, again, how can I trust them?

To purchase, you can use any exchange, you can look at the reviews and the ratings available to you exchange, and choose the one that will be most convenient for you. Try to choose the one that does not require verification.

Try to buy a small amount first to understand how it works, there is nothing complicated there. Remember that you cannot store your coins on the exchange, it is not safe, for this it is best to use a hardware wallet, study this issue and try to do everything right from the very beginning, this will allow you to avoid many mistakes in the future. You can also use exchangers to buy, many of them also do not require verification, but before using them, look at their reviews and ratings. This is not difficult, but you need to do it once to understand how it works.

[Daniel91]

It mostly depends on the purpose for which you bought your crypto assets.
If you want to trade your crypto assets on a daily basis, I recommend that you keep your crypto assets on a safe exchange like Binance and that you implement all available measures to protect your funds.
If you do not intend to trade your crypto assets on a daily basis and just want to hold your crypto assets until their price rises significantly, I advise you not to hold your crypto assets on an exchange or web wallet, but on a hardware wallet like Ledger.

[JeromeTash]

You can buy bitcoins from a centralized exchange like Binance or a decentralized exchange like Bisq.com (protects your privacy),

Has bisq.com ever been a domain affiliated with Bisq Network or the exchange? I believe not. In fact, the domain you suggested is up for sale.
Be very careful when recommending web addresses to members. You might end up suggesting to them a phishing link unknowingly

The right link for Bisq is https://bisq.network/

[Coyster]

Generally, Custodial Wallet on this crypto sphere is a storage of crypto currency that offer centralized service. This kind of storage such as centralized crypto currency exchanges. Binance is one of the best for this option, although i believe that there are many options out there. Binance has secure system and big volume. 

When you talk about storage of cryptocurrencies, mind you that you should be looking away from exchanges, it is really baffling to me why one would leave good non-custodial wallets and keep their funds in an exchange that can be hacked anytime, or that can confiscate your funds for any flimsy reason. Trade on cryptocurrency exchanges and hodl your funds in non-custodial wallets, not just anyone of them, but a good one like electrum that is open source.

[Queentoshi]

I have been using Binance since 2019 and it's working as good as a CEX.

It doesn't matter if you have been using the exchange for a long time now and it has been working fine, the thing is that you can never know how just tomorrow will be. Exchanges are not safe to store bitcoins if you are considering safety, and that has been what majority of the very experienced people in bitcoins have concluded. They do not say so because it has happened, but because with exchanges there is always a higher possibility of loss. If you have been using Binance since 2019, you have just been lucky, just like other people.

[Peanutswar]

That's why you don't store your funds into these exchanges these platforms only serve for exchanging your fiat currency into crypto or crypto-to-crypto transactions and if you don't use your assets into other way, better to transfer your funds in your wallet, which is yours and not with the use of the exchange.

People store their assets in hot or cold wallets to prevent hackers and the unexpected locking of assets in exchanges and other factors that you cannot get your funds.