If I am holding $500K - $50M worth of $BTC - $ETH or $SOL I am going to keep it on a centralized exchange like Binance, I know a lot of people will spark up and react saying, why would you keep such an amount of Bitcoin and #altcoins on a centralized exchange.

The truth is, at this point, there is no much difference again, your cold and hardware wallet also has disadvantages same with centralized exchanges but I think the fact that centralized exchanges have customer support and can help you if your crypto is stuck on their platform is a huge difference and this is why I am picking centralized exchange.

Over 1.5M BTC have been lost through self custody and over 1.5M BTC have been lost through exchanges too but here is what I think, if you have $2M worth of Bitcoin on Binance and something happens to your account, I strongly believe you will be able to get it out within 7 days, but for hardware and cold wallet, all your assets are gone.

Just a few days ago we saw over $71M worth of Bitcoin stolen via a coldcard wallet (self custody)

So you see, the difference isn’t much again, both of them are risky but one has customer support that can help you in case of emergency.

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