Self-Custody

The practice of holding and managing your own crypto without relying on an exchange, bank, or third party. You control the private keys, which means you control the assets. No middlemen, no support tickets, just full ownership and full responsibility.

Self-custody gives you freedom, but also comes with risk. If you lose access to your keys or recovery phrase, there’s no backup. That’s why many mobile wallets, including Plus Wallet, are designed to make self-custody more secure and easier to manage, without sacrificing control.

Related Terms

Seed Phrase

Your master key. A list of 12–24 words that can recover your entire wallet. Treat it like your life savings depend on it, because they probably do.

Public Key

The address people send crypto to. Safe to share, unlike your private key. Think of it as your wallet’s street address.

Private Key

A secret string of characters that proves you own and control your crypto. It’s the only way to access your wallet and move your funds.

Order Book

A real-time list of buy and sell orders on an exchange. It shows who’s willing to pay what, and how much liquidity is available at each price level.

Not Your Keys, Not Your Coins

A core crypto truth. If you don’t hold the private keys to your crypto wallet, you don’t truly own your assets.

Multisig Wallet

A crypto wallet that requires multiple private keys to approve a transaction. It’s a smart setup for teams, DAOs, or treasuries where no single person should have full control.

Mobile Wallet

A crypto wallet app that lives on your phone, giving you fast, flexible access to your assets wherever you are.

Hardware Wallet

A physical device that stores your private keys offline, keeping them out of reach from most online threats. Your crypto itself still lives on the blockchain, this just controls access to it.

Externally Owned Account (EOA)

The most common type of Ethereum wallet, controlled by a private key. It’s not a smart contract, it’s just you and your keys.

Web3

The next evolution of the internet, built around decentralization, user ownership, and open systems. It’s powered by blockchains, tokens, and smart contracts,

Wallet

A tool, either digital or physical, that lets you store, manage, and interact with your crypto.

Recovery Phrase

Also called a “seed phrase.” The 12–24 words that back up your crypto wallet. Lose it and that’s game over. Write it down. Offline. Twice.

QR Code Wallet Address

A scannable version of your wallet address that makes sending and receiving crypto easier and less error-prone.

Paper Wallet

A physical piece of paper with your wallet’s private and public keys printed on it. Super secure if done right, but lose it and your crypto’s gone forever.

Non-Custodial Wallet

Non-custodial means you control your crypto. Not a bank, exchange, or third-party gatekeeper.

Encryption

Turning data into unreadable code so only people with the right key can see it. It's how wallets, messages, and transactions stay private.

Digital Wallet

A software application or physical device that stores your crypto and allows you to send, receive, and manage digital assets.

Decryption

The process of turning encrypted gibberish back into readable info. You need the right key, or you’re locked out.

Custodial Wallet

A crypto wallet managed by a third party, usually an exchange. You don’t hold the private keys, they do.

Custody

Refers to who holds and controls your crypto. If your assets sit on an exchange or with a third party, that’s custodial.

Cold Storage

Storing your crypto entirely offline, away from internet threats. Typically involves hardware wallets or paper backups.

Address

Your crypto “wallet address.” It’s a long string of letters and numbers where others can send you coins. Don't confuse it with your private key, it’s public-facing and safe to share.