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YKYC

Own what's yours.

Your Keys, Your Crypto (= YKYC)

We believe you should have full control over your own assets, no one else. Thus it's important you keep the private keys of your wallet in your own hands. That's why for Comet, we follow the YKYC philosophy.
Because your keys = your crypto.
YKYC means that you and only you have control over your private keys and assets.
When you use a centralized exchange or custodial wallet, you're giving up control of your keys to a third party and behind the scenes they're managing your assets for you.
This can be risky, as the third party could be malicious, fraudulent, hacked, go bankrupt, or be subject to government seizure.
Comet is different. You're the only one in charge and you'll always have full control over your own assets and private keys. This means that only you have access to your funds, and only you can transfer them to any other wallet or exchange at any time, without relying on anyone or asking anyone for permission.
"Not Your Keys = Not Your Crypto".
But be careful, managing your own keys also means that if you lose access to those keys, there's no one that can help you. You're the one in charge and you're the only one responsible for the safety of your funds.
It's obvious that it's important to store your private keys and seed phrases on the most secure ways possible and never get them stolen or lose them.