Mastering Crypto Security: Exchanges, Hot Wallets, and Cold Wallets Explained

When managing cryptocurrency, it's crucial to understand one thing: your crypto isn't actually stored on exchanges or in wallets. Instead, it lives on the blockchain. Wallets and exchanges merely hold the keys to access and manage your crypto. However, where you store these keys greatly impacts security. Hacks, scams, and company collapses can result in the loss of your crypto. This article breaks down the key differences between crypto exchanges, hot wallets, and cold wallets, explaining their uses, security levels, and which might be the best…