May 19, 2024


This is an opinion editorial by Will Schoellkopf, host of the “It’s So Early!” Bitcoin podcast.

We often hear, “Not your keys, not your coins,” but have you done the “big scary?”

Much emphasis has been placed on getting your satoshis off of exchanges, and rightfully so! The Mt. Gox exchange hack has led to lost coins, but “recent market conditions have also led to the halting of withdrawals from major institutions with a lot of assets under management like Binance and Celsius. These are not lost, but denied access presents a new vulnerability for sovereign individuals to consider: If your child resets your hardware wallet, or your dog eats your seed phrase, can you recover your funds?


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