The team of the original meme coin DOGE has taken to X social network to warn the Dogecoin army about the importance of self-custody – storing one’s crypto in one’s own wallets, which are not linked to exchanges or any other third-party platforms.
“Not your keys, not your coins”
The Dogecoin X account decided to make a reminder of the “Not Your Keys, Not Your Coins” concept to Shibes once again during the current period which the DOGE team referred to as “this extended crypto winter”.
DOGE stated that the level of “questionable activities” from various centralized exchanges and DeFi platforms that have been demonstrating “shady behavior” has been so high that it is often exposing average users to unwillingly “funding illicit and controversial sociopolitical or criminal schemes.”
The Doge team stated once again that despite all that, “Dogecoin stands for having fun, memes, doing good, community, and ubiquitous access” and warned the community of Shibes that they it is necessary “o keep watch and keep custody over their assets whenever they can”. Iif you do not hold the keys (or phrase), those dogecoins do not actually belong to you”, the X post solemnly states.
The team then shared a list of crypto wallets where Shibes may hold their cryptocurrency bags. It includes Dogecoin Core, MyDoge, Coinbase self-custody wallet and Trezor, as well as a list of decentralized exchanges (DEXes) good enough for holding one’s crypto safely. DOGE stated that there are many more wallets and DEXes but Shibes need to conduct their own research on those.
“Such Decentralization is in your hands,” the X post concluded.