What are the advantages of using a self-custody wallet to store my digital currencies?

3 answers

• Nov 26, 2021 · 3 years ago
  Using a self-custody wallet provides you with complete control over your digital currencies. With a self-custody wallet, you are the sole owner of your private keys, which means that you have full access to your funds and can make transactions at any time without relying on a third party. This eliminates the risk of your funds being frozen or inaccessible due to external factors.
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• Nov 26, 2021 · 3 years ago
  One of the advantages of using a self-custody wallet is enhanced security. By storing your digital currencies in a self-custody wallet, you reduce the risk of your funds being hacked or stolen. Self-custody wallets often employ advanced encryption techniques and security measures to protect your private keys and ensure the safety of your funds.
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• Nov 26, 2021 · 3 years ago
  At BYDFi, we believe that using a self-custody wallet is the best way to store your digital currencies. With a self-custody wallet, you have complete control over your funds and can be confident in the security of your assets. By eliminating the need for a third party custodian, you also reduce the risk of your funds being compromised. Additionally, self-custody wallets are often compatible with multiple cryptocurrencies, allowing you to store and manage a diverse portfolio of digital assets.
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