Self-custody is an important concept for anyone who owns digital assets, such as cryptocurrencies. It is the process of taking responsibility for the security of your own digital assets, rather than relying on a third-party custodian. Self-custody is a way to ensure that your digital assets are safe and secure, and that you have full control over them.
The concept of self-custody is becoming increasingly important as digital assets become more popular. With the rise of cryptocurrencies, more and more people are investing in digital assets, and they need to be sure that their investments are secure. Self-custody is the best way to ensure that your digital assets are safe and secure.
When it comes to self-custody, there are a few key things to consider. First, you need to make sure that you have a secure wallet to store your digital assets. This means that you should choose a wallet that is secure and reliable, and that you trust. You should also make sure that you have a backup of your wallet, in case something happens to your device.
Second, you need to make sure that you are taking the necessary steps to protect your digital assets. This includes using strong passwords, two-factor authentication, and other security measures. You should also make sure that you are regularly monitoring your wallet for any suspicious activity.
Finally, you need to make sure that you are aware of the risks associated with self-custody. For example, if you lose access to your wallet, you could lose access to your digital assets. Additionally, if you are not careful, you could be vulnerable to hackers or other malicious actors.
Self-custody is an important concept for anyone who owns digital assets. It is the process of taking responsibility for the security of your own digital assets, rather than relying on a third-party custodian. By taking the necessary steps to secure your digital assets, you can ensure that your investments are safe and secure.
4 thoughts on “Coping with Self-Custody Challenges”
You had me at self custody FUD, but paper bitcoin lmao GTFO with that
people can ransack and torture you for your wealth now if they really wanted to. i think youre assuming a society that uses bitcoin is an anarachy
as far as a venmo for bitcoin, theres the lightning network but yes we need something better for when mass adoption happens. you can also use a software wallet for your allowance and fill it up regularly from a hardware wallet thats effectively your safe/bank
dude, I think you just described the Lightning network!
The fact that you believe that it can only be kept at home when in reality custody can be multisig and dispersed already shows that you lack knowledge.