Self-custody means MyDoge does not hold your Dogecoin – you do! Our mantra is YKYC – “Your Keys, Your Crypto”. We do not have access to your private keys.
We do not believe that Dogecoin should be held on exchanges in a “not your keys, not your crypto” land. YKYC means you are in charge of your private key and we cannot access your Dogecoin. If MyDoge had an outage and was inaccessible, you could still access your Dogecoin using your seed phrase.
Make sure to backup your seed phrase with our Manual Backup method and store it somewhere safe. In addition to your manual backup, you can add an iCloud Backup for extra security and convenience.
Your seed phrase, or 'recovery phrase', is used to generate the private key to your wallet. This phrase is all that someone needs to access your wallet, so keep it safe!