Crypto belongs to whoever has access to the keys. Lose your seed phrase and you lose your money; reveal it to a scammer and the result is the same. Here is what kinds of wallets there are, how to store your seed phrase and which mistakes to avoid.

Custodial and non-custodial wallets

A custodial wallet is an account on an exchange or service where the platform manages the keys. It is convenient, but you depend on the platform's reliability, rules and possible account freezes.
A non-custodial wallet is an app or device where the keys are held only by you. Full control — and full responsibility for keeping them safe.

An exchange service is not a place to store funds. At Brothers Exchange, the payout under an order is sent straight to the address you specified, so it is important to have a reliable wallet ready in advance.

Hot and cold wallets

A hot wallet is a mobile, desktop or browser app connected to the internet. It suits everyday transactions and small amounts.
A cold wallet is a hardware device or another solution where the keys never touch the internet. It suits long-term storage of large amounts.

A sensible approach is to keep the “spending” part in a hot wallet and your main savings in a cold one.

The seed phrase is what matters most

A seed phrase, or recovery phrase, is usually 12 or 24 words from which all the wallet's keys can be restored. Whoever knows it controls the funds.

Write the phrase down on paper or stamp it on a metal plate, and keep it in a secure place — ideally two different places.
Do not store it in phone notes, cloud storage, email, screenshots or messengers.
Never share it with anyone — not “support”, not an “administrator”, not friends. No service has the right to ask for it.
Check that you can restore the wallet from the written phrase while it holds only a small amount.

Common mistakes

Installing a wallet from a link in an ad or chat. Download apps only from official websites and app stores, checking the developer.
Buying a second-hand hardware wallet. The device may have been tampered with in advance. Buy from the manufacturer or official resellers.
A single copy of the seed phrase. It can be lost during a move, a fire or a flood.
Connecting your wallet to unverified websites. By signing an unknown transaction or “approval”, you can grant access to your tokens. Read carefully what you are signing.
No coins for fees. Sending USDT on TRON requires TRX, on Ethereum — ETH, on TON — a little TON. Keep a small reserve of the network's coin in your wallet.

Extra protection

Enable a PIN and biometrics in your wallet and two-factor authentication on exchanges.
Use a separate email address for crypto services.
For large amounts, consider multisig — a setup where several keys are required to make a transfer.
Periodically review which websites you have granted token approvals to, and revoke the ones you no longer need.
Check the address after pasting: malware can swap addresses in the clipboard. Read more in the article “How to Check a Wallet Address Before Sending”.

Safe storage starts with simple habits. And if you need to exchange crypto for cash or buy it with cash, choose a direction in the exchange form — the payout will arrive straight in your wallet.

How to Store Crypto Safely: Wallets, Seed Phrases and Common Mistakes