๐งต THREAD: โNot Your Keys, Not Your Coinsโ โ What It Really Means ๐๐
1/
Youโve heard it before:
โNot your keys, not your coins.โ
But what does that actually mean?
And why does it matter more than ever in 2025?
Letโs break it down ๐ง ๐
2/
๐ Your Keys = Your Access
Crypto wallets use private keys โ a long code that proves ownership.
If you donโt control those keys, you donโt control your money.
3/
๐ฆ Centralized Exchanges (CEXs)
Platforms like Binance or Coinbase hold your crypto in their wallets.
You just see a number on a screen.
They can freeze it, lose it, or get hacked.
4/
๐ฅ Real Example: FTX Collapse
Billions lost.
Withdrawals blocked.
Users thought they owned crypto โ but didnโt hold the keys.
Lesson: If the platform dies, so does your access.
5/
๐งฑ Enter Self-Custody
Use wallets like:
MetaMask
Trust Wallet
Ledger (hardware)
Only you have the private key.
Only you can move your funds.
6/
โ ๏ธ But Thereโs Risk
Lose your keys, and your coins are gone forever.
No โforgot passwordโ button.
Self-custody = self-responsibility.
7/
โ
Best Practice: Hybrid Strategy
Long-term holds? Use hardware wallets.
Active trades? Use trusted CEXs, but donโt leave big amounts there.
Store your seed phrases offline and securely.
8/
๐ Final Word:
โNot your keys, not your coinsโ isnโt fear-mongering.
Itโs crypto 101.
Own your keys.
Own your future.
โ
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