This article explains what self-custody means on the Gnosis Pay platform and outlines the user’s responsibilities, including protecting wallet keys, avoiding scams, and managing smart contract risks.
Gnosis Pay is a self-custodial platform — meaning only you control your funds. With great control comes great responsibility. This guide explains the principle of self-custody and outlines the essential practices you must follow to keep your funds secure.
🔐 What Is Self-Custody?
Self-custody is based on a foundational Web3 principle:
“Not your keys, not your crypto.”
You control the private key (or seed phrase) linked to your wallet.
Your wallet owns your Gnosis Pay Safe.
Gnosis Pay never holds your keys and cannot access or recover your funds.
Because you alone have access to your funds, you are responsible for keeping them secure.
🛡️ Your Key Responsibilities
1. Safeguard Your Seed Phrase
Never store it online or share it with anyone.
Store it offline in a secure location.
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Anyone with access to your seed phrase can steal your funds.
2. Be Cautious with Smart Contract Approvals
DeFi platforms often request wallet permissions.
Always review what you are approving — some contracts can drain your funds.
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Use tools like revoke.cash to manage token approvals.
3. Verify Websites and Links
Only connect your wallet to trusted platforms.
Bookmark the official Gnosis Pay website.
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Avoid clicking links in suspicious messages or emails.
4. Protect Your Personal Information
Never share your full card number, PIN, or passwords.
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Gnosis Pay will never ask for your seed phrase — anyone who does is a scammer.
5. Stay Vigilant Against Scams
Be cautious of unsolicited offers or airdrops.
Do not interact with unknown platforms or sign messages from suspicious apps.
If in doubt, contact support before proceeding.
🔍 Learn More
Need More Help?
If you’re unsure about a transaction or a website, contact our support team via the chat widget in the Gnosis Pay web app.