💸 Spot is a decentralized wallet which means that Spot does not have control over your funds.

🏦 Robinhood, Coinbase, Cash App, Crypto.com or Binance are centralized exchanges who store and control your funds.

⛔️ You should never store you cryptocurrencies on centralized exchanges.

👉 With Spot your are your own bank.

👉 With Spot you have control over your funds, 24 hours a day, 7 days a week.

🔐 Spot is a perfect place to store your cryptocurrencies over time.


Differences between Spot and centralized exchanges:

⛔️ A centralized exchange can block or seize your funds.

Spot does not have control over your funds and therefore cannot block, move or do anything with your cryptos.

⛔️ If a centralized exchange gets hacked, you could lose all your funds.

Spot does not store your funds. Funds are secured in every users' encrypted wallet.

⛔️ If a centralized exchange's servers are down, you cannot access your funds.

✅ Funds are not locked by Spot and are always accessible.

You are always free to export your private key 🔑 (also called 12-words recovery phrase in Spot) anytime and use another wallet!


🔑 "Not your keys, not your coins" 🔑

💸 Spot is a decentralized wallet (also called non-custodial wallet)

you control your keys 🔑

you control your funds!

🏦 Robinhood, Cash App, Coinbase, Crypto.com, PayPal, Binance, Gemini, Blockfolio, Kraken... are centralized exchanges

⛔️ you DO NOT control your keys 🔑

⛔️ you DO NOT control your funds!

Did this answer your question?