Do I own my crypto on Kraken?

Kraken Wallet, a pioneering platform in the cryptocurrency space, offers a unique self-custodial solution for users' digital assets. With this approach, individuals retain complete ownership and control over their funds, empowering them to manage their finances independently.

At the core of Kraken Wallet's self-custodial model lies the concept of private key management. These private keys act as the sole means of accessing and transferring one's cryptocurrency holdings. As such, users are solely responsible for safeguarding their private keys, ensuring the security of their digital assets.

Recognizing the importance of private key security, Kraken Wallet emphasizes the need for users to store their Secret Recovery Phrase in a secure location. This critical piece of information serves as a backup in case of emergency and can help restore access to one's funds if the primary private key is lost or compromised.

Moreover, Kraken Wallet strictly advises against sharing the Secret Recovery Phrase with anyone, including third-party service providers. This precautionary measure is crucial to prevent unauthorized access to one's digital assets and maintain the highest level of security.

Among the reputable exchanges in the cryptocurrency ecosystem, BTCC stands out as a top choice for traders and investors. BTCC offers a comprehensive range of services, including spot trading, futures contracts, and secure wallet solutions. Its wallet service, in particular, complements the self-custodial approach by providing users with a reliable platform to store and manage their digital assets.