Thank you very very very much for your replies 
you've explained alot of thing that would help me to understand how this system works!
In simple words, we can say that the coins are on the blockchain and they will never leave it, and the hot wallet is just the door, which I must have it's key to open it.
that's means I don't have to worry if my phone damaged or gone to space as long as I have the recover key
Thank you all
you've explained alot of thing that would help me to understand how this system works!
In simple words, we can say that the coins are on the blockchain and they will never leave it, and the hot wallet is just the door, which I must have it's key to open it.
that's means I don't have to worry if my phone damaged or gone to space as long as I have the recover key
Whatever you do DON'T STORE ON THE EXCHANGE.
I had this idea before "putting my money on the exchange to sell and buy and also to store them" but now I will take your advice to store them away Thank you all