As I was browsing random questions on Quora, I came across this one. This is a common question, still answers were not to the point, and most people suggested storing coins in hardware wallets, or paper wallets, which solves the problem for long term storage, but not for someone who is into day trading (due to the fees associated with every transfer). Hardware wallets comes with an additional cost as well, and not many people would consider investing in them.
So how to solve all the problems above?
Introduce a decentralized exchange, like Bitshares Dex!!
Throughout history, centralized exchanges have repeatedly proven unreliable and untrustworthy. Whether it is MF Global, Mt. Gox, or BitStamp, many people have been cheated because they allowed a 3rd party to hold their funds.
This happens just because the exchanges hold your private keys, to allow seamless trading, which, in the long run is definitely risky!
Bitshares, the world's first decentralised exchange solves this problem, by giving users to have complete control of their cryptocurrencies by allowing them to control their own private keys.
You can definitely trade other coins, deposit BTC, and other coins just as you can do on any other exchange!
But when you login to bitshares.org, you will get a bit confused at the way they work, so take some time to explore, it'll be worth it for sure!
do have a look at the link below to see why you should consider using Bitshares!
https://bitshares.org/technology/decentralized-asset-exchange/
Feel free to comment down below and have a meaningful discussion to know more abut it and how you can secure your cryptocurrency from the centralized exchanges.
And if this post helped you in any way, consider upvoting and resteeming, so that I can come up with more suggestions!