>>214447846
I am always glad to teach others an help you guys. I love this thread you're my brothers.
I have limited knowledge but I am locking in on monero so I can share some.
When you buy in exchange you have the funds on your account on their site hence in a wallet owned by them.
It's very transparent you don't get into technical stuff in these moments.
And it's not bad as long as you want to do a quick buy and sell. If you want to keep the currency long term you should put it in a local wallet. In case the exchange may scam people or freeze assets.
Monero has their app which generates a wallet made by a public address to receive money and a mnemonic passphrase which is the private key in essence. You need to secure that because it's the access to the wallet. You can use a password manager or print it on paper. Multiple copies are advised.
Monero piqued my interest since it's the only cripto to me that has a purpose: use it to buy goods. In a private way. Companies like Mullvad will also offer discounts for cripto.
