After FTX crashed, it dawned on a lot of users that as long as it's not your keys, it is not really your coins. People lost fortunes overnight and have not yet recovered.
What this means, for newbies is that you should have a wallet where you store your cryptocurrency and you control what is on it. If your coins are on an exchange, anything that affects the exchange, like hacking or complete meltdown also can make you lose your money.
Some of the popular wallets people use are Metamask and Trust wallet. A lot also use hardware wallets like Ledger and Trezor.
Do you do self custody, or you trust exchanges to do the right thing?
What this means, for newbies is that you should have a wallet where you store your cryptocurrency and you control what is on it. If your coins are on an exchange, anything that affects the exchange, like hacking or complete meltdown also can make you lose your money.
Some of the popular wallets people use are Metamask and Trust wallet. A lot also use hardware wallets like Ledger and Trezor.
Do you do self custody, or you trust exchanges to do the right thing?