Generally, after the exchange hacks people talk about the self custody of Crypto and I think this is the best way to store our crypto. Yesterday we saw how one of the biggest Indian exchanges was had and this is why there are a lot of issues going on in the Indian crypto community. It is obvious that when we lose our hard-earned money, we try all possible ways to question the entity for the fund's recovery. It's been more than one day now there has been no update about the fund's recovery however the exchange is trying to recover the funds from the hackers. But till now the exchange has not given any assurance about the fund's safety, which is concerning.
Now if we talk about the self custody then a hardware wallet is the best option available as of now. This is the best option because we keep the key and device with us and nobody can take it from the hardware wallet unless the person has got access to the key along with the device. But it is not as easy as it seems because if we lose the key then we also lose the access to the crypto. But I think still this is one of the best ways to secure Crypto because it is not available online and everything is available offline so security is foremost and we just need to keep the key secure.
Not your key, not your crypto is quite popular in this market and if we are talking about the safety and security of the fund then we need to understand these fundamentals. No exchange is indeed 100 percent safe and This is why we should not rely on them so it's better not to keep the money that is not required. If you are trading on the exchange then you need to have some funds but if you are not doing that then better keep your funds in a hardware wallet to keep it safe.
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