The team behind DOGE, the first meme coin, has turned to the X social network to warn the Dogecoin army about the need of self-custody, or keeping cryptocurrency in wallets that are not connected to exchanges or other third-party platforms.
“Not your keys, not your coins”
During this time, which the DOGE team refers to as “this extended crypto winter,” the Dogecoin X account decided to remind Shibes of the “Not Your Keys, Not Your Coins” principle once more.
According to DOGE, there have been so many “questionable activities” from centralised exchanges and DeFi platforms exhibiting “shady behaviour” that it frequently exposes regular users to “funding illicit and controversial sociopolitical or criminal schemes.”
In spite of everything, the Doge team reaffirmed that “Dogecoin stands for having fun, memes, doing good, community, and ubiquitous access” and advised the Shibes community that it is important “to keep watch and keep custody over their assets whenever they can.” The X post seriously declares, “If you do not have the keys (or phrase), those dogecoins do not genuinely belong to you.
The group then disseminated a list of bitcoin wallets where Shibes might store their digital cash. Dogecoin Core, MyDoge, Coinbase self-custody wallet, Trezor, and a list of decentralised exchanges (DEXes) suitable for safely storing cryptocurrency are all included. There are a lot more wallets and DEXes, according to DOGE, but Shibes must do their own study on those.
The X post continued, “Such Decentralisation is in your hands.”
