What Is Crypto Custodian?

[Sykkuno 2887]

Thanks for the explanation, lately we have many custodial wallets and Paypal has added to them, that doesn't even give the option to transfer our Bitcoin to another wallet, making it a really bad purchasing method for cryptocurrencies, it just proves that Paypal is about fiat only and nothing it does will help cryptocurrencies.

[Mella 3680]

On 1/29/2020 at 5:59 AM, Agios said:

Examples of trusted and safe custodians like Coinbase Custody, Custodian Onchain, and Xapo.

I am not know this custodian and understand very little what it does. I am know the coinbase but the rest not. And why will we need his custodian I am mean you are say they are not guarantee the crypto will not be lost, this is very strange, thank you very much for this information.

[annayks 2314]

I don't know exactly about these, they seem to exist and for some reasons people use these custodians while as this post is saying they won't be responsible to pay the owners in cases of theft. This is very strange and I wonder if those that use the custodians are aware of this.

[abdullah553 1981]

On 1/29/2020 at 5:59 AM, Agios said:

Crypto Custodians are third parties who provide crypto storage services, and are responsible for securing the client's crypto. Examples of trusted and safe custodians like Coinbase Custody, Custodian Onchain, and Xapo. If an investor's crypto is stolen, there is no regulation that requires the custodian to be responsible for returning the investor's crypto. Is Crypto Custodian better than direct ownersghip (Hot Wallet and offline / Cold Wallet)?

 

I couldn't understand how a third party would be managing money for currencies and wallets. If the matter was stolen, this might breach the security of cryptography.

[KHALED ADWANI 1216]

I think there was an accident two years ago that caused a loss of faith in this system
It was that the company manager was dead and no one else knew the key
This caused a great loss for the company, and for all the clients contracting with it, care must be taken when dealing with this type of company

[godislovefll 1880]

On 1/28/2020 at 11:59 PM, Agios said:

Crypto Custodians are third parties who provide crypto storage services, and are responsible for securing the client's crypto. Examples of trusted and safe custodians like Coinbase Custody, Custodian Onchain, and Xapo. If an investor's crypto is stolen, there is no regulation that requires the custodian to be responsible for returning the investor's crypto. Is Crypto Custodian better than direct ownersghip (Hot Wallet and offline / Cold Wallet)?

 

I did not have knowledge about this, but I think that in the same way it is the same as not having a custodian and this because in the same way in a hackers attack they will not be responsible if it is as you mention, for i it is the same as any wallet .

[cryptovlek 2597]

There will be even more of custodians when banks start offering cryptocurrency investments to the bank customers or have options to invest in crypto in their web banking pages. It will be a new trend that might take a year but it will be there and banks will get a high fee for this offering.

[bogdanoff 3173]

I didn't know anything about this kind of investing, it is possible that some investors prefer it but I wouldn't. Maybe this is something that allows some big funds to invest although I hope there will be security and possible refunds in case of theft.

[setifien 1016]

22 minutes ago, abdullah mohmmad said:

I do not think that the money can be protected by a third party from theft, no one can access your account, and if it was stolen through hacking your phone, no one will compensate you.

I think they have not access to the stored funds but they prevent them from eventual risks like attacks by hackers, I mean they potentiate the security of the coins

[mahdititus16 216]

the crypto custodian is something so good you need to know about it , so listen to me to understand , 

The simplest definition of custody or crypto custody  (in terms of finanace) is when an institution holds onto assets on someone else behalf .this is different from making a deposit into a checking or saving account. so that all my information about what you asked so i hope the batter for us , peace .

[Barbarellah 2225]

For me it does not make much sense to be placing our money in the hands of another and more so knowing that there are other means where we can have total control of our assets and I am referring to non-custodial wallets where they give us our private keys and recovery phrases. I use escrow sites when for some particular reason I have no other choice.

[Jromz 2158]

On 1/28/2020 at 9:59 PM, Agios said:

Is Crypto Custodian better than direct ownersghip (Hot Wallet and offline / Cold Wallet)?

 

Sure it's not, mate. You yourself kindly told us they do not take responsibility of stolen cryptos. Then, I prefer to store my cryptos myself in an external wallet. I'm not really familiar with these custodian services, but II assume they at least should offer any benefit to clients for storing and risking their cryptos with them. 

[yulitzacalvete 1366]

On 1/28/2020 at 11:59 PM, Agios said:

Crypto Custodians are third parties who provide crypto storage services, and are responsible for securing the client's crypto. Examples of trusted and safe custodians like Coinbase Custody, Custodian Onchain, and Xapo. If an investor's crypto is stolen, there is no regulation that requires the custodian to be responsible for returning the investor's crypto. Is Crypto Custodian better than direct ownersghip (Hot Wallet and offline / Cold Wallet)?

 

I have always thought that we should not trust third parties unless they are secure platforms with many years old and this happens with cryptocurrencies, we always have to be sure of what we are doing and thus not have problems with our money.

[jappy 1129]

On 1/28/2020 at 11:59 PM, Agios said:

Crypto Custodians are third parties who provide crypto storage services, and are responsible for securing the client's crypto. Examples of trusted and safe custodians like Coinbase Custody, Custodian Onchain, and Xapo. If an investor's crypto is stolen, there is no regulation that requires the custodian to be responsible for returning the investor's crypto. Is Crypto Custodian better than direct ownersghip (Hot Wallet and offline / Cold Wallet)?

 

If it is as you say, it is undoubtedly the fault of the hakers and no one will be held responsible in the past, but nevertheless it is something that I did not know anything about.

[Poppisnop 428]

Direct ownership is better than the crypto custodian, which means we investors can hold or control our own assets, but on custodian it means if our assets which is been controlled by the third parties involved is been lost or stolen it can't be retrieved back.

[betania1 283]

Both have excellent potential so I don't know which one is better, but if we talk about popularity we can say that Coinbase gives much more strength to this point because it is very popular but I think that everything will depend on the decisions of the people so in my opinion I see both very good options.

[Wanderdark 2178]

They will all be regulated eventually, so I think there is no need to worry about their security. It is said that the year 2021 will be the year of the regulations in the crypto world and many fields will be affected by these developments. The users will be in benefit, in my opinion because safety of funds is always an upmost concern in the world of cryptocurrencies. 

[Russel 017 506]

No i can Knot 

[abohasnn9 2401]

Thank you, my friend, because I heard this third spectrum that provides communication and protection for recent users of cryptocurrencies, so I think it is very good to publish such an article. If not, you did not hear about them.  Thank you so much

[celeste10 251]

The exchanges should undoubtedly always verify the wallets and confirm the network together with the user so that there are no mistakes and the same with the wallets, this would prevent one from making wrong transactions losing all our money.

[khan22 3478]

On 1/29/2020 at 9:04 AM, sohaib said:

If an investor's crypto is stolen, there is no regulation that requires the custodian to be responsible for returning the investor's crypto. 

 

in this case, direct ownership is better for me.

Direct ownership is best and so may peoples will just invest in those projects in which they know that the project owner is present or not and also so many peoples will also believe on that owner and invest i that projects.

[Quickbee 26]

The answer to your question lies in your own information. Since the Custodian has no responsibility, Direct ownership (Hot wallet/ offline or Cold wallet) is always preferable. I can control my funds directly.

[Ameralsamt 2558]

Is a financial institution specialized in keeping securities to clients and protecting them from the risk of loss or theft. The Conservation Bank also facilitates customer buying, buying and investment activities, collecting cash dividends, free shares, share retail, etc. 

[Pereira 2303]

This really does not seem very logical, since third parties are the people who custody our assets. In my personal opinion, I do not see it recommended, since these people if they get an attack of greed they can take all our assets and I would not want that, I prefer to store it in an encryption wallet that only serves to store them without having third parties involved.