What Does “Not Your Keys, Not Your Coins” Mean?

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Problem scenario
You have seen the initialism NYKNYC. What does it mean?

Solution
NYKNYC means “not your keys, not your coins” or “not your keys, not your cryptocurrency.” A private key is a non-tangible key that is not supposed to be given to other people. A public key is an address that may be given to other people.

You have to protect that private key because if anyone else gets their hands on it,

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What Happens if a Cold Cryptocurrency Wallet Stops Working?

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Problem scenario
There is disk corruption of your cold wallet for cryptocurrency. The hardware is broken or defective. What should you do?

Possible Solution #1
Do you have the recovery phrase/seed? You don’t want other people to have this; they could get your coins.

To read about what you might do, see the following:

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What is MEV?

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Question
What does MEV stand for in the context of cryptocurrency?

Answer
MEV means Maximal Extractable Value; it used to mean “Miner Extractable Value” according to Coindesk.com. Cryptocurrency miners solve problems and receive a reward for doing so.

If a miner is able to successfully add a block to the blockchain, they will receive … bitcoins as a reward.

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What is MATIC in cryptocurrency?

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Question
What is MATIC in the context of cryptocurrency?

MATIC is Polygon’s native cryptocurrency token.
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Before the project changed its name in February 2021, Polygon was known as Matic network.

https://cointelegraph.com/learn/polygon-blockchain-explained-a-beginners-guide-to-matic

MATIC is the currency of Polygon that enables users to interact with tens of thousands of dApps involved in our ecosystem. It is also used to secure the network by staking.

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