CRYPTO-SECURITY · EN · FREE

1. Wallets, exchanges and control of access

Identify the custody model first

With a custodial service, an operator typically controls the keys and your access depends on its rules and account protection. In a conventional self-custody wallet, keys and the recovery method determine access. Some apps offer Google, Apple or other backup models: first read the official rules for your particular setup. One wallet’s instructions cannot be applied to every other wallet.

A public address is used to receive funds and inspect public history. It is not a password, but linking an address to a person exposes some financial privacy. A recovery phrase and private key confer control. An app password may only unlock local storage and may not restore access on a new device.

Secrets stay with the owner

Do not send a recovery phrase or key to an administrator, “support”, a bot or a verification form. Do not photograph or store your own phrase in a chat, ordinary note or unprotected cloud. For a self-managed recovery phrase, plan a protected offline backup and consider loss, fire and unauthorised access. Check a real backup only using your wallet’s official instructions, never as an Academy exercise.

A hardware wallet changes how keys are stored and actions are confirmed; it does not make a malicious signature safe. A separate experimental wallet helps separate activities, but does not turn an unknown application into a trustworthy one.

Exercise and explanation

Place “public address”, “recovery phrase” and “email password” into two columns: may be shared to receive a transfer / must not be given for verification. Answer: only the address, if you accept the privacy consequences. The others are secrets. Then explain in one sentence why changing an app password does not neutralise an already exposed recovery phrase: authority under the old keys remains.