No matter how you store your digital assets, it is crucial that you don't put all your assets in the same place, which is risky. Therefore, it is suggested that you put them in at least three or more different places, which is a relatively safe practice. By doing so, you can sail in the crypto space with peace of mind.
Newcomers to cryptocurrencies will probably put all of their cryptocurrencies on exchanges. Actually, cryptocurrencies can be stored in many ways which can be classified according to centralization, decentralization and whether they are stored in centralized exchanges.
The centralized exchanges we usually use can be considerd as bank accounts, on which assets are managed in centralized ways. It means that your cryptocurrencies are actually stored in the wallets of these exchanges, not in your own wallets. The amount displayed is the balance we can use or withdraw, similar to our usual bank account. We don't actually own the cryptocurrencies shown in the exchange balance.
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