My experience storing crypto: What nobody tells you about security

Let's be clear. When I started with cryptocurrencies, no one explained this wallet thing to me well. And I almost lost everything because I was too trusting.

Crypto wallets are not like the physical ones that you keep in your pocket. They are apps on your mobile or browser extensions that allow you to manage your coins like BTC or ETH.

What I struggled to understand is that when you buy crypto, it is not stored anywhere physical. This is not like keeping cash! The ownership is recorded on the blockchain, and your wallet only interacts with it.

And here comes the trap that many do not see: there is a huge difference between keeping in your own wallets or leaving them on trading platforms. In the first, if you mess up, you lose everything. In the second... well, you depend on the platform not disappearing with your money ( and believe me, it has happened ).

Why do you need to take your coins out of exchanges?

I'll summarize it for you:

• Secure payments: Wallets have strong authentication so that no one can steal from you.
• Less fees: You save on those ridiculous transfer charges.
• Everything in one place: You can have multiple coins without the need for 20 different accounts.
• Free airdrops: Many times they give away tokens to those who have their own wallets (this has worked for me several times).

My personal wallet recommendations

Web3 Wallet This wallet revolutionized how I manage my assets. Integrated into a main app, it simplifies everything related to DeFi. The best part is that it uses MPC technology that replaces the seed phrases ( that I always forgot ) with encrypted "shared keys". It gives me complete control without having to memorize 24 words.

MetaMask The classic that never fails. It has existed since 2016 and was created to facilitate access to decentralized applications. I mainly use it to interact with dApps and NFTs. However, I don't like its very basic interface but it serves its purpose.

Zerion I love this wallet for DeFi. I can lend my cryptos and generate returns, provide liquidity, and earn fees. It also allows me to write options and earn bonuses on some protocols. The best part is that it tracks everything and shows me exactly how much I earn.

It also allows you to exchange tokens and automatically searches for the best price among various decentralized platforms. And best of all, it calculates my gains and losses without having to do it manually.

Ultimately, choosing where to store your cryptos is a personal decision. I learned the hard way that "not your keys, not your coins". Self-custody wallets are the way to go, although they require more responsibility.