Why Wallets dey more Safe than exchange.

This na Why Wallets dey more Safe than exchange.

A. Na you dey Control Your Keys.

For crypto, e dey one statement way dey popular well well:
“Not your keys, not your coins.”
Wallet: Your private key = your control = your funds.
Exchange: na exchange dey control the keys — if them hack am, freeze withdrawals, or shut down, your coins fit just vanish.
Example: Many users loss there money as some exchange collapses e.g Mt. Gox and FTX, even though them be they think say their coins were safe.

B. Immune to Exchange Hacks.

Exchanges dey very big and e dey attractive and na targets for hackers.
Personal wallets like hardware or cold wallets they much harder to hack because them no dey connected to internet 24/7.
Even if your wallet app dey online, without your seed phrase or private key hacker no fit move your money.

C. Privacy and Independence.

Exchanges they often require KYC, ID, address, etc.
Wallets no dey ask KYC and you fit hold, send, or receive crypto without revealing personal info.
You fit also use your wallet anywhere, no body fit freeze or censor am

d. No Third-Party Risk.

When your coins dey for exchange, en done technically become part of that company or exchange assets.
But no third party dey for wallet.