The phrase “not your keys, not your crypto” emphasizes the significance of controlling your personal private keys – the cryptographic keys that grant entry to your cryptocurrency. In case your crypto is saved on an trade or third-party platform, and you don’t maintain the personal keys, you’re basically trusting that platform to safeguard your property.
If the trade is hacked, goes bankrupt, or restricts withdrawals, you can lose entry to your funds. By holding your personal personal keys in a safe pockets, you keep full management and possession of your cryptocurrency, lowering the danger of loss as a result of third-party failures.
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