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.
How to securely store your digital assets
The digital asset space has experienced exceptional turmoil in the last few months. Safekeeping your digital assets has never been more important than today with hacks, thefts, and lost passwords becoming an increasing threat. So, what can you do to protect your digital assets?