Cryptocurrency Knowledge Primer: A private key is not a “login password”—it is the actual control right over your assets. An exchange account can often be appealed or recovered, but once a private key or mnemonic phrase leaks from an on-chain wallet, someone else can directly transfer your assets, and in most cases they can’t be recovered. The right approach: store the mnemonic phrase offline—never screenshot it, never share it in chat apps, and never enter it into unknown websites. Before connecting a wallet, confirm the domain name and the exact authorization requested. For long-term holdings, use a cold wallet as much as possible or store funds in layers. Remember this: the coins aren’t necessarily in your hands—the private key determines who truly owns them.