Must read: Storing NEO in an exchange wallet
Another option you may want to consider is storing your NEO tokens in an exchange wallet. The major benefit of this approach is that it’s easy and convenient. It also provides quick access to your tokens if you need to place a trade.
However, this generally isn’t recommended for a few key reasons:
- Most exchange wallets don’t allow you to control your private keys.
- Exchanges are commonly targeted by hackers, so there are security risks to consider.
- Not all exchanges will give you the GAS generated from staking your NEO.
As a result, the safest option in most cases is to transfer your tokens away from an exchange and into a secure wallet.