Buying and selling coins

Bitcoin Questions and AnswersBuying and selling coins

Angela asked 10 months ago

I bought crypto using Luno and Altcointrader. Should these companies fail, how would i access my coins?
Angeala

3 Answers
Steven Hay answered 10 months ago

Hey Angela,
 
If you don’t own the private keys, you don’t own the coins. If those exchanges go down, you’ll probably never get your coins back. This is why we always recommend storing your coins in a personal wallet and not entrusting them to an exchange wallet, which is totally outside of your control. See our wallet reviews section for help in choosing a suitable personal wallet for storage of your coins. Your coins should only be on an exchange when you’re actively trading.

Angela answered 10 months ago

Thank you for your succinct response. I have seen your personal wallets review. What is the process of transferring my coins from exchanges to the personal wallet? I would rather pay the monthly fee than leave it chance.
Angela

Angela answered 10 months ago

Thank you for your succinct response. I have seen your personal wallets review. What is the process of transferring my coins from exchanges to the personal wallet? I would rather pay the monthly fee than leave it chance.
Angela

Bitcoin Video Crash Course 

Dummy-proof explainer videos enjoyed by over 100,000 students. One email a day for 7 days, short and educational, guaranteed.

We hate spam as much as you do. You can unsubscribe with one click.