🔨 Breaking Crypto Myths with 0xProcessing

0xProcessing
Dec 27, 2023

🔍 Myth #2: Coins and tokens are stored in crypto wallets

💭 Many believe their BTC, ETH, XRP, and other cryptocurrencies are stored in their wallets, especially if they’re hardware (cold) wallets. But that’s not the case!

🗝 In reality, wallets only store the access keys to your coins. Private keys are particularly valuable because you can derive a public key from a private one, but not vice versa. And your coins? They’re always on the blockchain.

🎓 Why is this important? Imagine you have an impenetrable hardware wallet. But your seed phrase is stored on social media. If someone sees it, they can easily access your funds without even touching your wallet.

“Not your keys — not your coins” isn’t just a phrase, it’s the foundation of your crypto security!

💸 Stay tuned for more myths we bust together with 0xProcessing!

--

--

0xProcessing

Your payments processing company that saves time & money 💎Crypto 🌐Web 3 💱P2P 🔄Recurring payments 💸Crypto-Fiat withdrawals https://0xprocessing.com/