đ§ CRYPTO LESSON: âNot Your Keys, Not Your Coins?â
Many beginners think owning crypto simply means seeing a balance in an app. But thereâs an important distinction:
Exchange custody:
You hold crypto through a platform, while the platform manages the private keys.
Self-custody:
You control the wallet and its private keys/seed phrase yourself.
đ The big lesson: Your seed phrase is essentially the master key to a self-custody wallet. Never share it with anyoneânot even someone claiming to be Binance support.
Before sending crypto, always check:
â The correct network
â The correct wallet address
â Transaction fees
â Whether the receiving platform supports that asset/network
đĄ Remember: A crypto transaction can be irreversible. Taking 30 seconds to verify can save you from losing your funds.
Question for the community:
What was the FIRST crypto lesson you wish someone had taught you? đ
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