Where is my crypto stored after purchase?

Where Is My Crypto Stored After Purchase?

When you buy crypto on an exchange, it is stored in a wallet that the exchange controls (custodial wallet). The exchange holds the keys; you access it with your login. This is convenient but you depend on the exchange's security. For more control and security, you can withdraw your crypto to your own wallet (non-custodial or hardware). There you hold the keys (or seed phrase). Use the correct withdrawal address and network; wrong details can mean permanent loss.