[BitwiseFool]

"Not your keys, not your Crypto" is good advice, but I personally prefer to leave my wallet in the hands of a trusted large exchange like Gemini, Coinbase, or Kraken. Not only do they have better security than I do, they also have a whole slew of extra barriers in the event a malicious actor wants to drain my funds.

I can freeze withdrawals, whitelist specific addresses, and put time/wait barriers to all of these things.

Edit: I'm not recommending everyone do this. This is a personal risk-management calculation I have made based on my outlook.

[joemazerino]

What if any of those exchanges get hacked or exit?

Store offline.

[Cthulhu_]

Or like in this article, the victim gave access to their phone to the thief - that's 2nd factor authentication broken, and if their password manager is also unlocked (e.g. via Face ID or by coercion to put their password in) that'll give the thief full access to the account.

Of course, they could put in a 24 hour delay as well for larger transactions. But that's a setting that the user should probably engage themselves.

Also don't use Face ID or fingerprints to open up your phone or especially your password manager or 2FA app.

[Retric]

What happens if you get hacked? You lose all your money.

The question isn’t what happens, but rather how likely it is to happen. I wouldn’t trust any of the current exchanges with my life’s savings, but up to around 20% is a different story.

[BitwiseFool]

Yes, but it's a risk I'm willing to accept because I think the odds of my own setup getting hacked or compromised is much higher.

[lordnacho]

Insurance?