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A comment on Temporary pause of Bitcoin withdrawals on Binance. Parent comment

Re:Temporary pause of Bitcoin withdrawals on Binance by dhsysusbsjsi on Monday June 13, 2022 @09:08AM (#31725017)
This statement bugs me because it is a large source of confusion for new people.

Your funds are spendable by your private key. Your private key is stored on Metamask, Ledger or a piece of paper.

It’s an important distinction to make. Your hardware wallet is just a custodian of your private key.

[ Parent | on HN ]
Re:Temporary pause of Bitcoin withdrawals on Binance by benjaminwootton on Monday June 13, 2022 @01:08PM (#31728377)
That bugs me too.

Almost every document out there talks about storing coins in your wallet. It’s actually a private key in there.

Maybe with the right language, more people might be tempted to hold their own keys and eschew centralised exchanges.

[ Parent | on HN ]