Often i get asked if coinbase is safe or if Celsius is safe or anything company. The biggest issue with holding your bitcoin or crypto with these companys is that you do not hold your own keys and therefor are taking on additional risk in the form of the company getting in trouble with hackers or the government or fat finger accidents.
Many are worried to trust themselves; which is understandable, but the risk of holding your own bitcoin is so much lower than leaving it with an exchange for a handful of reasons.
- the incentive of a honey pot is much smaller.... capturing your 1 bitcoin or whatever amount you have is not worth the effort compared to capturing the 10's of thousands of bitcoin that coinbase holds. Coinbase therefor becomes a light drawing flies to it.
- you hold the keys; and when you hold the keys, no government or judge or company can seize your assets
i think the mistrust of ones self tends to be a hold over from the keynsian world that many of us grew up in; where we NEED a bank or company to handle our risk on our behalf. Times have changed
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