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What are the advantages of using self-custody for cryptocurrencies?

avatarFireproofing OntarioDec 16, 2021 · 3 years ago1 answers

Why is self-custody considered advantageous when it comes to cryptocurrencies? What benefits does it offer compared to other custody options?

What are the advantages of using self-custody for cryptocurrencies?
Cryptocurrencies
Self-custody
Advantages

1 answers

  • avatarDec 16, 2021 · 3 years ago
    At BYDFi, we understand the importance of self-custody for cryptocurrencies. By using self-custody, you can enjoy the benefits of enhanced security, privacy, and control over your digital assets. With self-custody, you are not reliant on a centralized exchange or custodian to hold your funds, reducing the risk of hacking or theft. Additionally, self-custody allows you to participate in decentralized finance (DeFi) applications and earn passive income through staking or lending. We highly recommend considering self-custody as a secure and empowering option for managing your cryptocurrencies.

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