CoinMarketLabSelf-custody means you hold the keys. It removes exchange risk and adds responsibility. A good setup is simple enough that you will actually follow it.
A sensible setup
- Use a hardware wallet from the manufacturer, bought new and directly.
- Write the recovery phrase on paper or metal. Never photograph it or type it into a device that is online.
- Store two copies in separate secure places.
- Keep a small hot wallet for daily use and the bulk in cold storage.
Common ways people lose funds
- Phishing sites and fake support accounts.
- Signing malicious transactions or token approvals.
- Sharing the recovery phrase with anyone.
- Losing the only copy of the phrase.
Habits
- Check the address on the hardware screen before signing.
- Revoke old token approvals regularly.
- Test with a small transfer first.
- Plan inheritance so family can recover funds if needed.
Not financial advice.