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ADA · 2w

Do you ever actually have ADA in your wallets?

So, people talk a lot about the need to keep one's ADA in a wallet but do we ever actually have the ADA? It looks like a wallet is a set of hash addresses that are written to the blockchain as the senders/receivers of transactions. If you can remove a wallet from your computer/browser and then recover that wallet and your balance using a seed-phrase what you're actually doing is recovering the cryptographic hash, right? The seed-phrase is ... well, a cryptographic seed. The hash generated from that seed is what connects to the decentralized blockchain database. You never actually have "physical" ADA. Just a record of your transactions. Am I thinking of this correctly?
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