FAQs Frequently Asked Questions

Crypto Report

What exchange should we use to safely buy bitcoin or other cryptocurrencies? How should we safely store them?

For legal reasons, we cannot recommend on what exchange to buy cryptocurrencies or how best to safely store them as no method is 100% secure, even cold storage where keys can be lost or stolen.

You can go to sites such as www.coingecko.com, type in a coin, then scroll down and select Markets, then check the list of available markets on which the coin trades. Keep in mind that www.coingecko.com warns its users that some of the information on there may be faulty or unchecked, thus are not held responsible. VSI in no way endorses www.coingecko.com but mentions the site as it is one of several sites that list markets for specific coins.

Members must do their own due diligence to understand the risks in trading cryptocurrencies. You can start by googling keywords “risks in trading cryptocurrencies on exchanges” and “where to trade cryptocurrencies”, "where to trade xyz cryptocurrency", etc. www.coingecko.com shows a list of exchanges where a specific cryptocurrency is traded.

As a general rule, you are best of going with the largest exchanges that have the longest life with a sound track record but even then, there is always some, albeit small, risk associated when you have your cryptocurrencies on an exchange.

Storing online in a wallet can also still be hacked. Cold wallet (offline) storage is one safer method but even this is subject to risk (fire, theft, loss of keys, etc). Long term storage of your keys in a safety deposit box insures against being held up at gunpoint and forced to turn over your keys. Anyone with a substantial sum of coins should always take the necessary precautions.

For best cold storage methods, google those keywords as the best methods can change over time. More efficient methods have been created with advancements.

First published:	13 May 2019
Last updated:	24 Mar 2021