Wallets, keys and seed phrases

A crypto wallet doesn't hold coins. The coins live on the blockchain. A wallet holds the keys that let you move them.

Private key and address

• Your address is like an account number. It is safe to share so people can send you funds.
• Your private key proves you own the address. Whoever has it can move your funds. Never share it.

The seed phrase

Most wallets show a seed phrase (also called a recovery phrase) of 12 or 24 words when you create them. These words can rebuild all your keys on any device.

• Write it down on paper and keep it somewhere safe and private.
• Never type it into a website, a chat, or a "support" form.
• No real support team, exchange or wallet company will ever ask for it.

Custodial vs self-custody

• Custodial: an exchange holds the keys for you. Easy to use, but you depend on that company.
• Self-custody: you hold the keys in your own wallet. You are in full control, and fully responsible: lose the seed phrase and nobody can recover your funds.

Key takeaways

• Share your address freely; never share your private key or seed phrase.
• Anyone asking for your seed phrase is trying to steal from you.
• Self-custody means control and responsibility.