Garytst, [10/1/2023 12:06] A regulated financial service provider such as a Trust, which has a long-standing reputation and is regulated to stringent regulatory requirements, is the ideal partner for safeguarding digital assets. Garytst, [10/1/2023 12:07] Advantages of third-party custody A Trust can act as a trusted third-party custody provider for digital assets. Similar to opening a bank account, when opening a crypto account with a regulated third party, the user is required to go through Know-Your-Customer and Anti-Money-Laundering checks. While self-custody gives you the sole control of the assets, keeping track of your digital assets can also be a challenge. With a reliable third-party provider, the owner does not have to lift a finger to keep the assets safe. With self-custody, there is usually no support team, but rather a community-driven platform as crypto wallet providers have no access to the password, private keys, and seed phrase. With a third-party, the user does not have to worry about this as the third-party custodian can access the funds and assist with any questions. Garytst, [10/1/2023 12:08] A regulated financial service provider such as a bank, which has a long-standing reputation and is regulated to stringent regulatory requirements, is the ideal partner for safeguarding digital assets.
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