Wallets are considered safer for storing your cryptocurrencies than exchanges since exchanges relay on a third party which won’t guarantee that your cryptocurrencies will be safe. We consider hardware wallets the best option for full security but it can lack some convenience if you plan on using it daily.
Read moreAre crypto wallets insured?
Representatives from both the SIPC and the FDIC confirmed that neither currently insures crypto assets . That means there’s no federal protection for your cryptocurrency. As far as the government is concerned, you’re on your own.
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