cryptowallett

Does a crypto wallet actually store your coins?

Not exactly. Your crypto is recorded on the blockchain. A wallet manages the keys that let you access and move it.

There are two common ways to manage your crypto:

1:On an exchange: The platform generally manages the private keys for you.

2:Self-custody wallet: You control the keys, and you're responsible for protecting your recovery phrase.

Lose your recovery phrase without another way to recover your wallet, and you could lose access to your funds.

Share it with someone, and they could take your crypto.

It's worth understanding the difference before moving any funds.

Do you prefer keeping crypto on an exchange or using your own wallet? Why?

If you're new to wallets, feel free to ask questions, but never share your recovery phrase or private keys.

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