The idea expressing the importance of controlling your cryptocurrency
This phrase was popularized by Bitcoin advocate Andreas Antonopoulos. “Keys” refers to private key information that can be used to send cryptocurrency to other wallets.
NYKNYC refers to crypto users who leave crypto on exchanges or with other custodians, and therefore, don’t control their own crypto assets. This leaves them unprotected and vulnerable to attacks.
“I left $100k in crypto on my Binance exchange wallet and now it’s gone!”
“Bro, didn’t anyone ever tell you: not your keys, not your coins.”