🔒Storing crypto on an exchange puts your funds at risk, as the exchange controls your private keys.
🔑A crypto wallet stores your public and private keys, giving you complete ownership and control of your funds.
🌡️Hot wallets are software wallets that are convenient to use but more vulnerable to hacks.
❄️Cold wallets, such as hardware wallets, provide maximum security by storing keys offline.
🔄Transferring crypto between wallets and from an exchange is easy and secure.
Why is storing crypto on an exchange risky?
—Exchanges control your private keys, so if they get hacked or go out of business, you could lose all your funds.
What is the difference between public and private keys?
—Public keys are used to send and receive money, while private keys are secret and allow access to your funds.
What are hot wallets?
—Hot wallets are software wallets connected to the internet, making them more vulnerable to hacks.
What are cold wallets?
—Cold wallets, like hardware wallets, store keys offline for maximum security.
Is transferring crypto between wallets and from an exchange secure?
—Yes, as long as you verify the recipient address and choose a secure transaction speed.
00:00Storing crypto on an exchange is risky, as the exchange controls your private keys.
03:36Crypto wallets store public and private keys, giving you ownership and control of your funds.
05:41Hot wallets are software wallets that are convenient but vulnerable to hacks.
06:56Cold wallets, like hardware wallets, provide maximum security by storing keys offline.
09:20Transferring crypto between wallets and from an exchange is easy and secure.
