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"NOT YOUR KEYS,
NOT YOUR COINS"
THIS IS A SAYING IN CRYPTO WHICH REFERS TO THE PRIVATE KEYS. IF YOU DON'T HAVE THE PRIVATE KEYS OF THE ADDRESSES ON WHICH YOU STORE YOUR CRYPTO, THEN YOU DON'T OWN YOUR CRYPTO.
​PUBLIC & PRIVATE KEYS
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COINS ARE STORED ON ADDRESSES A.K.A PUBLIC KEYS. EACH PUBLIC KEY HAS A UNIQUE PRIVATE KEY. PRIVATE KEYS ALWAYS GIVE ACCESS TO THE COINS STORED ON PUBLIC KEYS. PRIVATE KEYS CAN BE EXPORTED FROM AND IMPORTED INTO WALLETS. PAPER WALLETS (A PIECE OF PAPER) ARE HACK PROOF AND THE SAFEST WAY TO STORE YOUR LONG TERM HOLDINGS.
​EXCHANGES ARE NOT SAFE
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COINS LEFT ON A CENTRALIZED EXCHANGE BELONG TO THE EXCHANGE, THEY ARE NOT YOUR COINS AS YOU DO NOT HAVE THE PRIVATE KEYS. IF THE EXCHANGE GETS HACKED OR DISAPPEARS TOMORROW YOU LOSE YOUR COINS. AN EXCHANGE CAN BLOCK ACCESS TO YOUR ACCOUNT AT ANYTIME. ALWAYS TAKE YOUR COINS OFFLINE BY SENDING THEM TO PAPER WALLETS.
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