Bitcoin self-custody means having total control over your own bitcoins, without relying on intermediaries like exchanges or banks. By practicing it, you are responsible for holding your private keys, which grant access to your funds. This offers greater security against exchange hacks, censorship, and blockages. However, it demands responsibility: losing your keys means losing your bitcoins forever. For secure self-custody, it is essential to use reliable wallets, preferably hardware wallets, and to back up seed phrases in safe and offline locations. The phrase "Not your keys, not your coins" perfectly summarizes the importance of self-custody.
