LIBRARY / BITCOIN DECODED
Your keys. Your responsibility.
Learn Bitcoin wallet custody, recovery backups and practical scam prevention.
What does a wallet hold?
A wallet manages keys and creates transactions. Bitcoin balances are represented by unspent outputs on the blockchain; coins are not literally stored inside the device. Control of the required signing keys determines spending authority.
Read the primary source ↗Custodial or self-custody?
With a custodial service, the provider controls signing keys and you rely on its systems and policies. With self-custody, you control the keys and must protect backups. Neither arrangement removes every operational risk.
Read the primary source ↗Protect the recovery backup.
A recovery phrase can restore many wallets and may grant control over their funds. Keep it private and offline. Do not type it into unsolicited websites or send it to someone claiming to provide support. Follow the wallet manufacturer’s verified backup guidance.
Read the primary source ↗Check before you send.
Verify the destination and amount on a trusted display. Malware can replace clipboard addresses. For unfamiliar workflows, consider a small test payment and understand fees first. Confirmations take time; a website balance alone is not proof of settlement.
Read the primary source ↗Recognise the red flags.
Guaranteed returns, urgent deposit demands, requests for recovery phrases and offers to unlock funds after another payment are warning signs. Verify software and domains through primary sources. Avoid sharing private keys to claim coins from a fork.
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