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7. Self-custody vs. exchanges
7/8 · Coins on an exchange are an IOU: if the exchange is hacked, freezes withdrawals or goes bankrupt (Mt. Gox 2014, FTX 2022), you may lose them. Self-custody means you hold the keys…
Watch: the short video
English · 1 minExchange vs Your Own Wallet: Not Your Keys, Not Your Coins
Exchange balances as IOUs, who holds the keys, lessons of Mt. Gox and FTX, and self-custody with a seed phrase backup.
Transcript, takeaways & FAQ →Be civil. No spam, scams, shilling or referral links. New accounts can't post links for the first day.
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