Thanks, but the part I was confused about was why exchange > liquid > cold storage..
Why not just exchange > cold storage? Then realized probably to have the privacy step of L-BTC in the middle, is that the reason (assuming as you say folks don’t use an exchange with liquid)?
and volume
One thing is it lets you use self custody while you wait for fees to cool off, rather than having to choose between high fees and trusting the exchange
If you buy small amounts overtime, let say $50 weekly and send to your ColdCard, you will have to pay on-chain transaction fees to consolidate your UTXOs or top up you Lightning balance, which lately could be anywhere between 30 sat/vb and 500+ sat/vb.
On Liquid it's 0.1 sat/vb. That's why it best to stack on Liquid, top up LN and when it make economically sense, you go on-chain.
I like to refer to this Unchained article to size my on-chain UTXOs.
