I was one of those, some say unfortunate some say stupid, people who lost a fair amount on mtGox. I was new to bitcoin back then and didn't really appreciate the need to hold my crypto in my private wallet and cautiously only move onto the exchange for trading.
I have since learnt my lesson and love Trezor and Mycellium to store my stash.
I'm not a technical expert and am still trying to make sense of Steemit. I lover the returns I'm getting from Powering Up but my only concern and reason for not increasing my investment is that the crypto is not really in my private wallet when sitting on this site. Maybe it's a trust thing and a painful memory of being 'Goxxed'.
One of the things I look for when buying into an alt coin is: does it have a private wallet? Jaxx for Ethereum fitted the bill nicely until this recent unfortunate event of the hard fork and all the confusion.
Maybe I misunderstand from a technical perspective and those 4 keys the site gives us are things we need to act upon, rather like a Mycellium backup.
Does this feel like leaving coins on an exchange?
Can I do more to protect myself?
I'd be interested in others thoughts.
You can install steem wallet and manage your funds from there
At this moment it's command line only, but it's easy to learn
Great, I'll have a look
You could use a CLI wallet locally if you are really concerned about security.
I lost on MTGox too. Use Steem not just Steemit. check out and try to use PIStON.