Spoiler: most people don't. They own an IOU from some platform. And IOUs can vanish overnight.
Celsius? Gone. FTX? Poof. Billions evaporated.
The brutal truth nobody wants to hear: if it's sitting on an exchange, it's not really yours. It's theirs. You're trusting a third party with your keys—and trust is expensive in this game.
Self-custody isn't paranoia. It's survival.
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CountdownToBroke
· 12h ago
Another one teaching us self-custody, but how many people can really stick to not touching the exchange?
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ETHmaxi_NoFilter
· 11-30 04:57
Another "not your coin, not your keys" old tune... But to be fair, that Celsius incident really gave me cold sweats.
However, the real problem is that 99% of people don't even know how to use a Wallet, putting coins on an exchange might be safer, right? Self-custody sounds great, but losing the Private Key leaves you dumbfounded.
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SleepyArbCat
· 11-30 04:56
Nap warning, now awake... That Celsius wave makes me uncomfortable, how many people are still dreaming?
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AirdropF5Bro
· 11-30 04:41
Really, my coins are still sitting in the exchange, and just thinking about it makes me unable to sleep well.
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RektButSmiling
· 11-30 04:39
No way, here comes that trap of scary rhetoric again... But to be fair, there is indeed some truth to it.
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VirtualRichDream
· 11-30 04:30
I've seen the exchange blow-ups a few times, it was really terrifying... now I just keep it in my Wallet and let it sleep.
Ever wonder if you actually OWN your crypto?
Spoiler: most people don't. They own an IOU from some platform. And IOUs can vanish overnight.
Celsius? Gone. FTX? Poof. Billions evaporated.
The brutal truth nobody wants to hear: if it's sitting on an exchange, it's not really yours. It's theirs. You're trusting a third party with your keys—and trust is expensive in this game.
Self-custody isn't paranoia. It's survival.