Bitcoin and Crypto Talk (Merged)(includes NFT)

superchuck500 said
Where are y'all storing your coin? I read that it's not recommended to store coin in your wallet on the exchanges. Move it to separate storage (the most secure being something like a portable drive you can secure on your own, or even by "paper" storage).

I have an electrum wallet on my PC with the private keys stored off net. I do some wheeling and dealing so I keep a lot of my funds on Coinbase, but for extra security I use two factor authentication (2FA), so in addition to a password I have to enter a code from my google authenticator app on my smartphone in order to access my account, transfer funds to an external wallet, etc. I'm invested solely in bitcoin 99% of the time, but I want to be able to join the party when Litecoin or Ethereum experience large surges like they did the last couple of days. The downside to Coinbase is they currently only offer 3 currencies - Litecoin, Ethereum, and Bitcoin, whereas other exchanges offer dozens (I think Bittrex is around 200).

BUT, what you said is true. If you don't plan on trading and just want to invest and leave your money in a particular currency, I'd suggest downloading a wallet (I like Electrum) and storing your currency there. Just make sure and store your wallet's private key somewhere external to that pc (usb drive, piece of paper stored in safe deposit box, etc) so if the PC crashes, it doesn't take your currency with it.