What's a decentralized wallet

Compared to the centralized wallet (exchange) whose private key is in the hands of a third-party service provider, the private key of a decentralized wallet is kept by the user himself, and the assets are stored on the blockchain, and the user is the real holder of the digital currency, and the wallet is just a tool to help the user manage the assets on the chain and read the data on the blockchain, and so it is not possible to control, steal, or transfer your assets. Therefore, decentralized wallets are difficult to be hacked centrally, and users do not have to worry about the wallet service provider's self-stealing or running away, because as long as the wallet is created when you keep your private key, your assets are still on the chain, and can be displayed in a different wallet. Note: Once a decentralized wallet is lost or stolen, it cannot be recovered without backing up the private key or mnemonic, so be sure to back up your private key safely and correctly.

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