Exchange custody
- Who controls access?
- The platform controls the keys and records your balance.
- What you gain
- Simpler recovery, buying and selling.
- What can fail
- Platform failure, account freezes, withdrawal limits and phishing.
Wallets · custody and recovery
Self-custody removes a company. It does not remove risk.
A wallet is a system for controlling keys and signing transactions. The best choice is not the one with the strongest slogan—it is the responsibility model you can operate reliably.
Software wallet
- Who controls access?
- Keys are controlled through an app or browser wallet on your device.
- What you gain
- Direct on-chain use and no exchange approval for normal transfers.
- What can fail
- Malware, malicious approvals, fake apps and irreversible mistakes.
Hardware wallet
- Who controls access?
- A separate device protects transaction signing and key material.
- What you gain
- Better separation from everyday internet-connected devices.
- What can fail
- Supply-chain mistakes, poor backups, blind signing and false confidence.
The recovery phrase
The backup is not a password.
A provider cannot reset it for you. A support agent never needs it. A photograph or cloud note can silently turn a physical secret into an online one.
A safer storage test
- • Can another person photograph it without you noticing?
- • Could fire, water or a house move destroy the only copy?
- • Would a family member know what it is—and what not to do with it?
- • Have you ever proved that the words restore the intended wallet?
Never type a recovery phrase into a website, form, direct message or “verification” tool. Wallet support cannot reverse a transfer made by someone who obtained it.
Six operating rules
Security is a routine, not a product.
Protect the recovery phrase
Treat it as the wallet itself. Anyone with it can usually recreate the wallet and move the assets.
Verify on the device
For hardware wallets, read the destination and amount on the trusted display—not only on the computer screen.
Test recovery safely
A backup is useful only if it is complete, legible and recoverable. Practise with an empty or low-value wallet.
Separate daily use from savings
Do not connect a long-term wallet to every app. A small interaction wallet limits the damage of one bad approval.
Keep the software current
Install wallet and firmware updates through verified official channels. Never follow an update link sent by direct message.
Plan for incapacity
Decide how a trusted person could find instructions without placing the complete secret in one easy-to-steal location.
A sensible transition
Do not move the whole balance first.
Create the wallet, verify the address, send a small test, confirm receipt and practise a return transfer. Confidence should come from a successful process—not from the device box.