Buying and selling coins

Bitcoin Questions and AnswersBuying and selling coins
Angela asked 1 month ago

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

3 Answers
Steven Hay answered 1 month 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 1 month 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 1 month 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