Why is self custody becoming increasingly popular among cryptocurrency investors?

3 answers

• Dec 17, 2021 · 3 years ago
  Self custody is becoming increasingly popular among cryptocurrency investors due to the desire for greater control and security over their digital assets. By holding their own private keys, investors can eliminate the risk of third-party hacks or theft. Additionally, self custody allows investors to maintain their privacy and avoid potential government regulations or restrictions. It also provides the flexibility to access and manage their assets anytime, anywhere without relying on a centralized exchange. Overall, self custody empowers investors to have full ownership and control over their cryptocurrency holdings.
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• Dec 17, 2021 · 3 years ago
  The rise in popularity of self custody can be attributed to the increasing awareness of the risks associated with centralized exchanges. With several high-profile exchange hacks in recent years, investors have become more cautious about leaving their assets in the custody of third parties. Self custody provides a solution to this problem by allowing investors to store their digital assets in their own wallets, reducing the risk of theft or loss. Moreover, self custody aligns with the principles of decentralization and financial sovereignty, which are core values of the cryptocurrency community.
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• Dec 17, 2021 · 3 years ago
  As a leading digital currency exchange, BYDFi recognizes the importance of self custody for cryptocurrency investors. Self custody offers a higher level of security and control over digital assets compared to traditional custodial services. By enabling users to hold their own private keys, BYDFi empowers investors to take full responsibility for their funds. This aligns with the philosophy of decentralization and puts the power back into the hands of the users. Self custody also eliminates the need for trust in third-party custodians, reducing the risk of hacks or mismanagement. Overall, self custody is becoming increasingly popular among cryptocurrency investors due to its numerous advantages in terms of security, control, and privacy.
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