“Not your keys, not your crypto” is a phrase that discourages storing cryptocurrency in custodial wallets (like those on centralized exchanges). It emphasizes that if you don’t control the private keys to your crypto, you don’t truly own it—because the entity holding your funds can freeze, restrict, or lose access to them.

This phrase encourages people to use non-custodial wallets, where they control their private keys and have full ownership over their assets. While non-custodial wallets provide more security and autonomy, they also come with the responsibility of securely managing private keys—since losing them means losing access to the funds permanently.