Tag: Exchange wallet address

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While there are other ways to purchase crypto, many people acquire crypto on cryptocurrency exchanges. Upon making a purchase, the cryptocurrency you acquired is automatically stored in your exchange-hosted wallet, which is typically custodial, meaning the exchange has control of your private keys .

Definition. A cryptocurrency wallet refers to a program that allows an investor to store all their cryptocurrency. On the other hand, a cryptocurrency exchange refers to a website or service where one can sell or buy digital currency or convert fiat currency into digital currency.

Exchanges are considered the least secure venue to store cryptocurrency , while offline wallets are the safest. But there’s a trade-off between the ease of entering and exiting positions and the security of your holdings.