Self-custody
Self-custody means you hold the keys to your crypto, not a company. In Ownbit, keys and the seed phrase are generated on your device and stored there encrypted — never uploaded — so no one else can spend, freeze, or lose your funds on your behalf.
What does non-custodial mean?
A custodial service (like most exchanges) holds your keys for you: it can move your funds, and you rely on it staying solvent, honest and unhacked. A non-custodial wallet like Ownbit never holds your keys, so that entire class of trust is removed. The trade-off is that backing up your seed phrase is your responsibility — there is no support line that can reset it.
Where are my keys stored?
Your private keys and mnemonic are stored encrypted on your own device. They are not sent to Ownbit's servers at any point. Private keys are derived from the seed only when they are needed to sign a transaction, which limits how often the raw key is exposed in normal use. You can also generate a seed offline with an independent tool and import it, keeping the origin of the key entirely in your hands.
Can Ownbit access or freeze my funds?
No. Because the company never holds your keys, it cannot access, freeze, or move your funds — and neither can an attacker who breaches Ownbit's servers. The flip side is honest to state: if you lose both your device and your seed backup, no one can recover the funds for you.
For MultiSig wallets, recovery does not depend on Ownbit's server either. You can recover MultiSig assets yourself using the public on-chain contracts and the recovery guide.
Frequently asked questions
Is Ownbit custodial or non-custodial?
Non-custodial. Your keys and seed are generated and stored encrypted on your device and never uploaded; Ownbit cannot access or move your funds.
What happens if Ownbit shuts down?
Your funds are unaffected. Standard wallets use BIP32/39/44, so your seed restores in other wallets; MultiSig assets can be recovered directly from the public on-chain contracts without Ownbit.
What if I lose my seed phrase?
If you lose both your device and your seed backup, the funds cannot be recovered by anyone. Keeping a safe offline backup of your mnemonic is the core responsibility of self-custody.
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Download Ownbit
Install the app, then set up a cold wallet or MultiSig for the workflow you need.