You've touched on a crucial aspect of the crypto world that often gets overlooked by newcomers: the importance of secure storage for Bitcoin and other cryptocurrencies. It's a valuable reminder that, while exchanges offer convenience and liquidity, they come with their own set of risks, especially concerning security breaches and the potential loss of funds. The distinction you made between hot wallets (exchanges) and cold storage options highlights a fundamental strategy for long-term holders: minimizing exposure to risks by utilizing private wallets for significant holdings. Your insights also shed light on the transaction cost dilemma, which indeed poses a challenge for frequent traders or small transfers. It's a fine balance between accessibility and security, and your breakdown really helps in understanding the trade-offs involved. Plus, pointing out the KYC-free appeal of private wallets offers a crucial perspective for those valuing privacy above all. Thanks for sharing such a comprehensive overview!