"Not Your Keys, Not Your Coins": What It Really Means

This crypto adage means: if your coins are on an exchange, the exchange controls them and you only hold its IOU; only by withdrawing to a wallet whose keys you control do you truly own them. Here is the principle, the trade-offs, and what to actually do.

This crypto adage means: if your coins are on an exchange, the exchange controls them and you only hold its IOU; only by withdrawing to a wallet whose keys you control do you truly own them. Here is the principle, the trade-offs, and what to actually do.