Two ways to hold crypto
Every coin is controlled by a private key. The only question is who holds that key: a service on your behalf (custodial) or you directly (self-custody).
Custodial: convenient and recoverable
You sign in with a password and 2FA, and the provider manages keys, deposits and withdrawals. Forget your password and you can reset it. The trade-off is that you rely on the provider's security and policies.
Self-custody: full control, full responsibility
You hold a seed phrase that backs up your keys. Nobody can freeze or move your funds, but nobody can restore them either if the phrase is lost.
How My Chain combines both
Your My Chain account balance is custodial, protected by mandatory 2FA and reviewed withdrawals. Separately, every account gets its own standard 12-word wallet phrase that you can view under Security and import into wallets such as Trust Wallet or Xaman. Funds sent to that personal wallet stay there and do not appear in your My Chain balance.
