How to Keep Your Cryptos Safe

[Mika]

A couple of months ago, when a crypto bank called Celsius Network landed in hot water, it blocked withdrawals and transfers. A few weeks later it filed for bankruptcy thus causing ordinary depositors to lose their crypto assets.

A couple of weeks ago, FTX, a crypto exchange blocked the withdrawal and transfer of crypto assets citing that they are in financial trouble due to the bear market, which is now causing users to lose money.

One of the major problems associated with the crypto world is losing your assets. You need to take the following steps to safeguard your assets.

Do not keep your assets on centralized exchanges.

Do not keep your assets in hot wallets.

Keep your assets on decentralized exchanges.

Use cold wallets.

If you cannot afford to have a hardware wallet, try desktop wallet.

Even when you have to use centralized exchanges or hot wallets, do not keep your all assets on one platform, diversify your assets.

 

[Yugocean]

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Those people, who kept everything on those platforms were in greed, they put there (in Celsius) for high APR, at present NEXO is also doing same, but people do not understand, this is too childish.
Crypto experts aren going to understand this point

As for desktop wallet, what's diffrence? Wallet is wallet, desktop or app doesn't matter, I, १many people do not have PC, so this won't be option for them.
I will instead advice them to not to use extension wallets like Metamask, which has already started giving problems.

You do not need to use any exchange unless you want to. You can keep your cryptos' in a wallet, especially PoS, and stake them to earn profit. You can use exchange platform, when you need it for trading.

I do not know any decentralised exchange is good to keep assets. There are some desentralised platforms, but exchange hapoens on P2P, do how you will keep there?