Is Crypto Actually Stored “Inside” a Wallet, or Somewhere Else?

The article is an educational explainer clarifying that cryptocurrency is not stored inside a wallet. Instead, crypto exists as records on the blockchain, while wallets store private keys, seed phrases, and addresses that let users control those on-chain assets. The piece emphasizes practical security implications: losing a phone does not mean losing funds if the seed phrase is backed up, but losing keys without a backup can make funds permanently inaccessible. It also contrasts self-custody with exchange custody, reinforcing the “not your keys, not your coins” principle and noting that hardware wallets improve long-term security by keeping keys offline. The article is primarily a custody and security primer for crypto users, especially in India, and does not discuss market prices or trading catalysts.