While a lot of users are yet to get their funds out of FTX recent crash, there's a wake-up call for users to also start looking for alternative means of securing their crypto assets in personal wallets that are not in reach of centralized authorities, having absolute right over one's fund gives some sense of personal conviction about security importance in any key investment.
Damand for self-custodial wallets and need for privacy
We saw a surge in the price of crypto hardware wallets with their peg token appreciating exponentially, this shows a lot of demand for personal hardware wallets which are the best means of storing crypto-based tokens while some might not have the luxury of buying a personal hardware wallet like trezor and ledger wallets there are other self-custodial wallets one can get their hands on which are very safe and hack-proof once the necessary steps of keeping your keys are strictly followed, there are multiple self-custodial wallets out there which can be installed on computers and smartphones to mention a few of these wallets are Trust wallet, SafePal, Matamask, and Electrum wallet.
Multi-sig wallets are another self-custodial wallet that gives one chance to store their private keys in two separate places in case of loss of access to one key, one can always be retrieved but the loss of all two keys means there's no reversal of funds without those private keys.
As important as self-custodial wallets are keeping the private keys of those wallets is very important there is little chance of getting your hands on your funds once your private keys are lost, for some users memorizing those keys are safe option while others prefer caving or writing down their recovery phrase keys seems more convenient.
moving your crypto off-exchange with these simple steps
1.Create a self-custodial wallet; there is a role you have to play when choosing a self-custodial wallet which is the responsibility of safely keeping your phrase keys safe this is very important as all other necessary setup depends on how you choose to keep your keys safe, in most cases, storing those keys offline is the best way of avoiding malware attack.
You can always choose to download either of the above mention wallets on your phone or computer and proceed with the setup guide for preparing the wallet to run on your device.
2.Move funds off exchange; creating a wallet requires simple steps once done, the next step is to start moving your crypto assets by clicking on receive, let's say you want to send BTC from a certain exchange to your new wallet copy the btc address and go the desired exchange where your btc are and click withdraw to your new wallet address.
These processes are simple as well for none novices.
With your new wallet fully set up, you have absolute control over your funds in your new wallet.