Wallet or Exchange?
Where is the best place to store my ADA?
ADA Suisse clearly recommends that you keep your ADA in an official Cardano wallet.
On the other hand, it is a bad idea to keep your ADA on an exchange.
Basically, Blockchain projects like Cardano allow services that today depend on & are controlled by central organizations like states & companies to be decentralized in the future.
However, this also means that you are now responsible for your own assets & should secure them yourself accordingly.
There are also other wallets than the ones officially provided by Cardano.
Basically, the following points should be considered when choosing a suitable means of storage:
- One has the keys to the wallet address
- One can choose the stake pool oneself
- One has control over the voting rights
This is important. For your money and for Cardano.
If you don’t understand this, ask yourself why you bought a decentralized coin and why you expect it to increase in value.