Importance of the digital asset security
We witnessed the third largest centralized exchange falling overnight. This is why we believe it’s time to tell you about the benefits of your digital asset security. Storing your assets on the exchange is actually one of the worst ways to hold your digital currency. We will discuss the importance of digital security and the concept of private keys today.
Concept of private keys
Private keys are an encrypted string of symbols that enable users to manage their digital assets in a variety of ways, including sending and transferring funds. Just like with your banking PIN code, you won’t be able to manage your accounts without your private key. In this case, a person who gains access to your private keys becomes a new owner of your assets, because they can use your assets as they wish.
Although storing your assets on the exchange eliminates the need to keep a private key, they control your accounts. The hint is “not your keys, not your cryptocurrency”, because you run the risk of losing your funds if you lack your private keys. As the cryptocurrency market evolves, people are increasingly afraid that third parties may restrict access to decentralized finance, which can be observed right now.
Conclusion
Your security is in your hands. Whether you use a hardware or a software wallet, keeping your assets safe is entirely your responsibility. Remember: “not your keys, not your cryptocurrency”!
Relictim wallet is a product that guarantees the security of your assets and is publicly available on any device.
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