Question and Answer, explaining the difference between keeping assets on trading platforms like Binance, and external storage in cold wallets:

❓Q/A: Should I leave my coins on the platform? Or transfer them to a cold wallet?

🔹 Question: If I buy cryptocurrencies on Binance, should I leave them on the platform? Or do I need to transfer them to a private wallet?

🔸 Answer: It depends on your goal and how aware you are of the importance of security.

📍 Storage on the platform (like Binance):

✅ Suitable for active traders

✅ You can buy and sell easily

✅ The platform offers strong protection (like 2FA, encryption, email verification…)

❗But:

❌ You may be vulnerable to hacks or freezes in rare cases

❌ You do not own the private keys of the coins

🧊 Storage in a cold wallet:

✅ The best option for long-term security

✅ Not connected to the internet, making it immune to hacks

✅ You own the private keys, and have full control over your funds

❗But:

❌ Requires caution in storage and not losing the recovery phrase

❌ Less convenient for daily trading

📌 Summary:

If you are trading continuously: Keep a portion on the platform

If you are investing for the long term: Use a cold wallet

The currency for which you do not hold the keys… is not fully yours.