"Not your keys, not your coins" — the legal version. 🔑 If you're holding crypto on a centralized exchange, what you really own is an IOU. Not the coins. When you buy Bitcoin, Dogecoin, or a privacy coin like Monero on an exchange and just leave it there, the screen says you own it. But the exchange holds the private keys — which means they hold the actual control. And as we've seen far too often in recent years, when an exchange freezes withdrawals or declares bankruptcy, you don't get to walk in as a property owner reclaiming your assets. You end up an unsecured creditor, standing in line with everyone else. There is another way: self-custody in a hardware wallet. That fixes the counterparty problem — but it hands you a different one. Lose your seed phrase, or expose it to the wrong person, and your coins are locked away forever or stolen, with nobody to call. So the real question isn't which option is "safe." It's which risk you'd rather own. 📌 Follow for plain-English legal breakdowns. ⚠️ Educational only — not legal or financial advice. #crypto #bitcoin #notyourkeysnotyourcoins #selfcustody #hardwarewallet #cryptotips #blockchain #investing #legaltips #lawyer #attorney - @olivercushinglaw