If you’ve been around Bitcoin even a little while, you’ve probably heard the phrase “Not your keys, not your coins.” But what does it actually mean and why should anyone care?
At Manx Bitcoin Consultancy, this is often the very first lesson we teach. Because whether you own £100 or £100,000 worth of Bitcoin, the difference between holding it yourself and trusting a third party could change everything.
Self-custody means you control the cryptographic keys to your Bitcoin. When you use an exchange or app to hold your coins, they’re in control, you just have a balance they promise to honour.
Owning the keys means owning the Bitcoin. It’s the whole point of this technology: no banks, no middlemen, no gatekeepers.
Even in 2025, the majority of Bitcoin holders still leave their coins on exchanges. Hacks, collapses, bankruptcies, and account freezes still happen, and they’re devastating.
If you don’t control your keys, someone else can lose your coins, freeze your access, or even confiscate your funds. Self-custody eliminates that risk.
It can be, but it doesn’t have to be. You don’t need to be a tech expert to take ownership of your Bitcoin. At MBC, we walk you through simple, tested methods that match your needs and confidence level.
You can start small:
Over time, we help you upgrade your setup from basic cold storage to more robust options like multisig vaults and inheritance planning.
Think of it like having your own safe, rather than trusting a bank vault you don’t control. Only in this case, your "safe" can be backed up, encrypted, and spread across multiple secure locations.
With the right setup:
Taking control of your Bitcoin is more than a technical step it’s a shift in mindset. You move from being a customer to being an owner.
