XLE

Can you elaborate on buying monero at an exchange and then transferring it out? Do you mean that OP should

1. make a local wallet
2. make an account on a popular exchange
3. buy cryptocurrency on the exchange
4. transfer it to their local wallet

And would it be accurate to say that a local wallet can be maintained without a lot of system power, and can run on open source software? I assume that because any transfers that are sent to or from the wallet, are basically synchronized in the Blockchain, so there’s not a lot of data that needs to be stored on the user’s side.

To be fair, the article itself recommends it.