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Stagione 1Episodio 32:06

Where are my coins? Exchange vs wallet

In questa lezione Tell a custodial exchange account from a self-custody wallet, and understand who controls access and who handles recovery.

Il tuo prossimo passo

Commissioni, ordini minimi e modalità di prelievo cambiano da un exchange all'altro. Confrontali fianco a fianco prima di scegliere.

Confronta gli exchange

Punti chiave

  1. On an exchange account, the platform mainly manages the assets and keys.

  2. In a self-custody wallet you control the credentials, and the recovery duty is yours.

  3. Ask who controls the permission to move the assets before you choose.

Verifica rapida

You lose the recovery phrase of a standard self-custody wallet and have no other recovery method. What happens?

Prova tu

Match two scenarios: an exchange login account, and a standard recovery-phrase self-custody wallet.

Mostra la risposta

They differ in who has control and how recovery works. Self-custody does not mean automatically safe.

Trascrizione

  1. Sam

    My phone broke. Are my coins smashed too?

  2. Nexubo

    Your coins aren't inside your phone. A wallet lets you see assets on the blockchain and uses keys to approve actions. Whether you can recover depends on the wallet type and the recovery options you kept.

  3. Narratore

    With a custodial exchange account, the platform mainly manages the assets and keys, and you act through your account. With a self-custody wallet, you control the credentials. Convenience and responsibility are split differently.

  4. Sam

    Forget your password on either one, and you just call support?

  5. Nexubo

    Don't think of it that way. With a standard recovery-phrase wallet, if you lose the phrase and have no other valid recovery method, support can't get it back for you.

  6. Nexubo

    Keeping assets on a platform carries platform risk. Holding them yourself can go wrong through a leaked key or a bad approval. Today, just understand the difference. You don't need to move everything right now.

  7. Narratore

    Who controls the permission to move the assets? Answer that first. Then decide which account or wallet you need.

  8. Narratore

    Two doors look the same. One is fake. Next episode: how to spot the real one.

  9. Narratore

    Understand first, then act.