Crypto foundations
The idea
A wallet manages the credentials used to control assets. In self-custody, losing access to the required keys or recovery information can mean losing control. With a custodian, access depends on its security and obligations. Neither model removes every risk. Never enter a recovery phrase into an unsolicited website or support chat.
A worked example
A wallet interface can be reinstalled, but that does not recreate lost recovery material. A claimed support agent asking for a seed phrase is asking for control.
Try it yourself
Compare custody responsibilities on paper. Do not use real keys or recovery phrases in a practice exercise.
A mistake to avoid
Thinking a wallet's familiar interface guarantees the safety of every transaction it displays.