Self-custody

Self-custody means holding your cryptocurrency in a wallet where you control the private keys — rather than leaving it on an exchange, custodian, or service that holds the keys on your behalf. The phrase "not your keys, not your coins" captures the risk: if your crypto is held by an exchange and that exchange freezes withdrawals, gets hacked, goes bankrupt (as FTX did in 2022), or is compelled by a government to freeze your account — you have no recourse. Self-custody eliminates this counterparty risk.

What it means

Private keys are the cryptographic credentials that authorize cryptocurrency transactions. Control the keys, control the coins. Hand the keys to a third party — a crypto exchange, a bank, a custodian — and you now hold an IOU from that party rather than actual cryptocurrency. The FTX collapse in November 2022 wiped out billions of dollars in customer funds because customers were trusting Sam Bankman-Fried with their keys.

Self-custody requires more responsibility: losing your private keys or seed phrase means losing your funds permanently, with no recovery mechanism. Hardware wallets (physical devices that store keys offline) are the standard tool for serious self-custody.

How it works on Gab

Self-custody is the digital sovereignty principle applied to money. It's consistent with Gab's broader philosophy: own your infrastructure, don't depend on gatekeepers who can cut you off. Marketplace sellers who accept cryptocurrency from buyers handle those payments directly — self-custody ensures those funds can't be frozen by a third-party custodian.

Related terms

Crypto wallets are the tool for self-custody. Bitcoin and other cryptocurrencies are what you're self-custodying. Digital sovereignty is the broader principle.