If you don't own the private keys to your coins, you don't own them! If they are held on an exchange, it's really just an IOU from the exchange to you for a certain number of coins.
I used to see this posted a lot in the past. Seems like it's been a while since a major exchange hack on western exchanges. Once they get hacked, go bankrupt, someone hacks your account, or the exchange decides to suspend your account for any reason, you have a major problem.
Put your coins on a hardware wallet, paper wallet, mobile wallet, or another place that you fully control. Then and only then are you running a BCH/BTC/crypto wallet.
I met a guy a few weeks back that lost coins on Mt. Gox and now told me he had a good chunk of coins on a major exchange. I literally couldn't believe it. I asked didn't he learn anything? He didn't seem concerned, I couldn't believe he wasn't concerned.
Bottom line, keep control of your keys.
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source https://www.reddit.com/r/btc/comments/93di3x/psa_if_you_dont_own_your_private_keys_you_dont/
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