Self-custody 4 min read
Your keys.
Your decisions.
Understand what you own, how your wallet gives you access and how to prepare your way back in.
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The foundations
The record.
The interface.
The authority.
These three things work together. Understanding what each one does makes ownership easier to navigate.
- The network keeps the record.
- Your assets and transactions are recorded on their networks. They are not stored inside the app on your phone or computer.
- The wallet is your interface.
- It helps you read balances, prepare actions and interact with your accounts. One wallet can bring several accounts into view.
- Your keys authorize the action.
- With self-custody, control of the keys stays with you. An address is something you can share to receive assets; private keys must stay private.
Your recovery plan
Prepare your
way back in.
A recovery method is part of owning a wallet. Give it the same attention as the assets you plan to keep there.
Know what your wallet requires.
Backup methods vary. Follow the instructions for your chosen setup and understand which information or devices you would need to restore access.
Keep recovery information private.
Do not send it through chat or enter it through an unexpected link. A person claiming to be support does not need your secret to discuss a problem.
Plan for the device being unavailable.
Know where the required backup is kept and how you would reach it. An email or app password alone cannot recreate missing private keys.
Know which accounts your backup covers.
Several accounts can appear in one app without sharing the same recovery method. A phrase-based backup covers the keys derived from that phrase.
Accounts from one phrase
A wallet can derive several accounts from the same recovery phrase. Restoring the phrase may still require adding those accounts back to the interface. A familiar account label is not the account’s identity.
Separately imported accounts
Importing a private key from elsewhere does not make it part of the app’s original recovery phrase. Keep track of which independent backup restores each imported account.
Connected hardware accounts
An account controlled by a hardware wallet has its own recovery setup. Connecting it to an app does not make the app’s recovery phrase a backup for that device.
Wallet example: MetaMask’s account restoration guide. Account syncing and recovery options depend on the setup used.
When you move assets
One token name.
Different networks.
A familiar asset can exist on several networks. Match the receiving service’s network with the one you use to send, then verify the full destination address and any required memo.
A matching name or address format alone does not establish compatibility.
When you connect
Every request
has a scope.
Connecting to an app, signing a message and granting a token allowance are different decisions. Read the actual request before agreeing to it.
Review connected services over time. Disconnecting a site may leave an onchain approval in place.
Putting it into practice
A new device.
The same wallet.
Restoring the same accounts changes how you reach them. It does not move the assets to a new blockchain address.
After restoring, compare your account addresses and selected networks. A token missing from the display does not, by itself, mean its balance has disappeared.
Review whether the previous device still has access and keep the original backup secure. When learning an unfamiliar action, start with an amount you are comfortable using and account for its network fee.
Explore wallet securityWhere the signature happens
See the balance.
Know what signs.
Some setups separate the connected app from an offline signing device. Seeing an account in an interface does not mean that interface holds its private keys.
The app prepares the request.
A watch-only interface uses public account information to show balances and prepare an unsigned action. Public information alone cannot produce the account’s signature.
The separate device signs.
The signing device keeps the private keys and returns a signature for the request. The private key itself does not need to be sent back to the connected app.
The app broadcasts the result.
The connected app can then submit the signed transaction to the network. An account remaining visible while its signer is disconnected is consistent with this separation.
Technical example: ERC-4527’s offline-signer and watch-only workflow.