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Cold Wallet vs. Hot Wallet: Where Is Crypto Stored?
Crypto wallets hold the private keys to your cryptocurrency and keep them safe. One thing to note is that you can't store cryptocurrencies in a regular bank account; they have to be stored in a crypto wallet. You have to. Owning cryptocurrency is unlike other assets. It's natively digital � so you can't actually touch it. And while traditional investments are usually kept in a.

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So if you use Exodus to store your private Bitcoin keys, you would be able to pop open their desktop or mobile app to access this information or participate in peer-to-peer trading of over different coins. An exchange can easily be hacked, and your wallet might be part of the unfortunate ones affected. These exchanges help you with crypto transactions for a fee; however, your crypto might be used by the exchange for personal uses, which is what happened with FTX.