Ever feel like you're playing a high-stakes game of trust with your crypto holdings? You're not alone. In the wild world of Bitcoin and beyond, the mantra "not your keys, not your coins" echoes louder than ever. But here's the kicker: despite years of warnings, a staggering 98% of crypto users are still rolling the dice on exchanges and custodians. Why? And more importantly, how do we fix it?

That's the burning question at the heart of the latest episode of the When Shift Happens podcast, hosted by crypto enthusiast MR Shift (@KevinWSHPod). This time, he's chopping it up with Matej Zak, CEO of Trezor, the OG hardware wallet that's been keeping keys safe since 2013. Their conversation? A no-holds-barred deep dive into self-custody as "freedom technology," laced with a sobering history lesson from Czechoslovakia that hits way too close to home in today's regulatory jungle.

A Brutal History Lesson: When Governments Wipe Savings Overnight

Matej doesn't mince words—he kicks things off with a gut-punch story from 1953. Picture this: The Czech government drops a monetary reform bomb, forcing citizens to exchange old banknotes for new ones at rates that vaporized over 90% of their savings. State bonds? Gone. Life insurance? Poof. Family land? Seized. While everyday folks got crushed, the elites skated by with their wealth intact.

Fast-forward to today, and Matej's grandparents still whisper about that betrayal. Half a century of communism and capital controls followed, breeding a deep-seated distrust of centralized power. No wonder Bitcoin resonates so hard in the Czech Republic. "That’s why Bitcoin makes so much sense," Matej says plainly. It's money you control—no permission slips required.

Now, imagine Bitcoin existed back then. One version of Matej's grandfather clings to cash and bonds, only to get rekt. The smarter one? Converts to BTC and stashes it in self-custody on a device the state can't touch. Banks, ETFs, or regulated custodians? They'd freeze or void those claims just like the bonds. Self-custody isn't just secure—it's a firewall against history's repeat offenders.

The Product-Led Path to Trust: Meet Trezor's CEO

Matej's no suit-and-tie exec chasing quarterly targets. Seven years ago, he jumped into Trezor as a product manager; three years back, he stepped up as CEO. That trajectory screams "product-led company." Forget revenue-first vibes—Trezor starts with real user pains, like "How do I store my wealth without handing keys to a hacker's playground?"

His mantra? "People, product, profit." Hire sharp minds, foster the right environment, and build tools that actually solve problems. Profits? They follow if you've nailed the trust factor. In crypto's cutthroat arena, where billion-dollar hacks like the recent $1.5B custodian breach remind us that "secure" is relative, Trezor's edge is simple: Open-source everything. No black-box BS.

Take their drama with a "secure element" chip a few years ago. Trezor tested it (same one a rival was using), spotted a nasty vulnerability under NDA, and couldn't shout it from the rooftops without lawsuit drama. Exploitable devices? Still out there. Trezor's fix? Co-found Tropic Square, crafting a fully auditable chip now powering the shiny new Trezor Safe 7. Hardware ain't software—you can't patch a bad design post-ship. One slip, and millions burn.

The 98% Trap: Why Self-Custody Feels Like Rocket Science (But Shouldn't)

Crunch the numbers, and it's grim: Hardware wallets like Trezor have shipped about 15 million units total. Compare that to 600 million crypto holders worldwide, and boom—only 2% are truly self-custodied. The rest? Betting on exchanges, hot wallets, and custodians that promise the moon but deliver rugs.

Blame it on UX friction and FUD. Seed phrases? That 12- or 24-word ritual feels downright medieval for "digital gold." One typo, and poof—irrecoverable funds. Trezor invented the BIP39 standard that's still the gold standard, but they've leveled up. The Safe 7 feels iPhone-sleek yet laser-focused—no bloat, no attack vectors. And NFC backups? Coming soon, so even your tech-averse mom can skip the pencil-and-paper drill.

Matej's blunt: Self-custody means no middlemen, funds movable "anytime, anywhere" on your terms. It's not just tech—it's sovereignty. In a world of flash crashes and regulator whims, that's the real meme-worthy flex.

Freedom Tech in Action: Bitcoin vs. the Crypto Casino

Matej draws a sharp line: Bitcoin's the sound money play; the broader "crypto" scene? Often a speculative slot machine. His advice? Get educated, get mad, get secure. Crack open The Bitcoin Standard by Saifedean Ammous or Ray Dalio's How Countries Go Broke (okay, it's a cheeky nod to his debt cycle wisdom). Channel that rage into grabbing your keys.

For blockchain builders and meme token chasers alike, this pod's a wake-up call. Self-custody isn't optional—it's the baseline for playing in Web3 without getting played. Trezor's not just selling gadgets; they're arming the revolution against centralized overreach.

Caught the full episode? Drop your take in the comments—self-custody convert or still riding the exchange wave? And if you're knee-deep in meme tokens, remember: Even doge dreams start with secure keys.

Listen now on YouTube or your go-to podcast app. Stay shifted, crypto fam.