The collapse of FTX and other crypto exchanges was enough for even the most trusting investor to start keeping their cryptocurrencies to themselves without trusting anyone else, Reuters writes.

Crypto holders are opting to “self-store” their funds, transferring them from crypto exchanges and trading platforms to personal digital wallets.

Among retail investors, the number of those with less than 10 BTC – rose to 3.35 million as of Jan. 11, up 23 percent from 2.72 million a year ago.

As a percentage of the total bitcoin supply, the number of such wallets holding less than 10 bitcoins is now 17.4%, up from 14.4% a year ago.

A lot depends on how often you trade them: if you’re just going to buy and hold for the next 10 years, it’s probably worth making the investment and learning how to store your assets well.

The panicked flight from crypto exchanges has been driven by the FTX scandal and the collapse of other crypto firms, with large investors leading the way.

According to Chainalysis data, the average daily movement of funds from centralized exchanges to personal wallets jumped to a 6-month high of $1.3 billion in mid-November when the FTX exchange collapsed, in an average of 7 days.

Data showed that large investors making transfers of more than $100,000 were behind these flows. Access to funds is paramount as financial platforms are disappearing by the day.

Wallets can range from those connected to the internet, to those running on standalone hardware devices, although the latter are generally disliked by novice investors who often buy cryptocurrency from large exchanges.

Multiple layers of protection can often be cumbersome and expensive for the small investor. Meanwhile, hardware wallets can fail or be stolen. Keys constantly need to be monitored and keys backed up, which is very difficult when storing a cryptocurrency portfolio on your own.

Institutional investors also turn to specialized companies that can store out funds. One such firm, BitGo, which provides custodial services for institutional investors and traders, said that in December the number of requests for registration increased by 25% compared to the previous month.