Can I hold my bitcoin on Koinim instead of any wallet?

[Ethereumcu]

Hi,
I want to hold my bitcoin(very small amount) on Koinim.com or Paribu.com(exchange website) for one year due to the fact that my money is low. They are reliable websites. Can i do it? or are there any limitations on these websites?

[Windowly]

You can and if it is just a small amount for a short amount of time, I would say it is ok. (I use exchanges as well when I want to change money.)

For long term and/or for large amounts you probably want to get a hardware wallet. Ledger and Trezor are two of the community's favorites.

Phone wallets are also good for small amounts of money. (Think spending money, the amount you would normally have in your wallet.)

If you don't control the private keys in Bitcoin, you don't really have the Bitcoin. You just have a promise from the exchange that they will give you the Bitcoin when you ask. Often they do. But they can get hacked or suddenly disappear.