A warning that if you don’t control the private keys, you don’t truly control the funds.
"Not your keys, not your coins" reminds users that funds held on exchanges or custodial services can be frozen, lost, or mismanaged. True control requires holding your own private keys.
"When an exchange pauses withdrawals, users without their own keys can’t access their coins. Non-custodial wallets avoid this risk."
Best practice is to use non-custodial wallets for long-term holdings and keep only what you need for trading on exchanges. Always back up your mnemonic securely.
"After buying BCH on an exchange, transfer it to a wallet where you control the keys before holding long-term."
All terms and definitions may update as the Cryptionary improves.