Good news: I have a fraction of a Bitcoin. Bad news: I have no clue how to keep it safe. it is sitting in my Robinhood account along with my other stocks and ETFs. Now I keep hearing the need for hardware wallets, key encryption and stuff like that, and that makes me very nervous. I want to know why do I need these - is not a huge exchange like Robinhood good enough to keep my coins safe?
I plan to hodl till the end of time (or until I become a millionaire, whichever happens first) so I need a long-term strategy for the safety of my beloved coin. I have a hefty password on my Robinhood account and 2FA setup as well.
If you are knowledgeable about this topic: what is the best way to keep this thing safe? Do I need a hardware wallet, and if so, which one?
You can assume I know nothing about Bitcoin other than that it can be bought and sold!
TIA for your responses.