What Is Crypto Custodian?

[Thomas. 1 18]

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 imagine if it does, subsequently of stream get something done a touch surge and if not, in that case it is pleasant

[Syed Al Mamun 876]

I also agree with your opinion that direct ownership is always best and i recommend it. But maximum time we must use tthird party method for storage the Crypto currencies. In this regard we can use the Coinbase because they are custodian of your asset in any situation.

[BrolySSJ 7899]

As you have said in this topic that if the crypto is lost, then the custodian is under no obligation to return or refund that amount to the user, therefore i see no benefit in this because it does not offer any security. In fact it is even riskier because you are giving your crypto to a third party and hoping that they keep it safe. I think that in these cases it is best to use your own wallet and take responsibility for your own crypto safety and if you have a lot, to use a hardware wallet.

[Nezar 7169]

Frankly, I prefer direct ownership of currencies, because if any amount of currency is stolen, I will not be able to get it back. Unfortunately, everyone is at risk of theft.

[Shaza Ahmad 1682]

I think using Cold Wallet is the safest way, just keep the nano ledger from lost or crashing because that would mean a loss of stored cryptocurrencies.

[Whited35 15285]

In the crypto world, generally the term " Crypto Custodian" refers the third party service providers which have abilities to control, move or store your cryptocurrencies. Nowadays, most of traders are preferring non-custodian platforms to have 100% control over their funds. 

[Treat1234 0]

It is not better at all, this custodian wallets are just special wallets that can be a problem if the platform is hacked because the creator will not have any funds to give to their victims, I prefer to hold my private keys in my possession

[Upright 2688]

Direct ownership is better as of when regarding of what is in place of no regulations about our funds if stolen,as this of the custodians having to not pay especially the well established sites like xapo in which on they might tend to pay back if they think that having to be there might be still profitable on their usage

Edited May 13, 2020 by Upright

[Zalaks007 543]

Crypto custodians always do a good job to keep your coin, investment and trading safe but they are usually not responsible if you lose your coin on any investment or trading because they only stand as a third party to you that's all.

[jamesvince 2389]

Custodian means the third party which are gaves us a facilities to store our coins for long term investment and then after few years bitcoin or any crypto currencies and these known as crypto currencies wallets these wallets are used fee for their services.

[bitcoin-shark 1928]

Obviously the wallets and the Exchanges crypto-custodian are to be avoided as far as possible because once entrusted to them our altcoins are no longer in our possession and we are at risk of losing them, both the wallets and Exchanges must be decentralized and the wallets are preferable to be non custodial where altcoins remain forever in our possession

[Zezo 306]

Since no one guarantees the investor’s right to lose, the direct owner is definitely better and responsible for his money

[Virgil dijk 1431]

Well for me I think direct ownership is better, well tho this crypto  custodian are secured but if it gets hacked and our crypto is stolen, there won't actually refund us back our coins , so that means if there lost our coin , there won't replace it and our coins is gone, so for this reason I choose direct ownership.

[Moaz 7239]

Thank you, my friend, for sharing this important information about the concept of Crypto Custodian, than Crypto Custodian greatly contributing to keeping cryptocurrencies in your wallet

[pablomarwan 3082]

One of the articles talks about that if you are dealing with binance platform and you have currencies stored on it I mean you have a record of your dealings with it. One day, your account was hacked and currency was stolen, it compensates you for what was stolen to you. The news is not reliable. But if there are such services, it is better for you not to deal with the platforms that you have provided. I mean, there must be some commitment between the customer and the company.

[nykas 2812]

I think that Crypto Castodian is way to automatize as much things as we can, but I think that it`s dangerous to use it, so I prefer direct ownership to castodians 

[Sarahden111 1231]

The presence of such a third party or trustee on these currencies is good from a security standpoint, but what are the fees imposed on such a service or mediation? But this contradicts the Bitcoin blockchain, which is that no third party is needed.

[Ndayebo8 0]

custodians can be the third party who manage and handles the security challenges faced by crypto currency exchange on the cryptpo sites. it depends on what custodian they will use of course we should choose the trusted and most secured wallet to ensure the safety of our coins

[TimopheyKa 3900]

I think we are talking about investors? Those who buy cryptocurrency and hold it for a long time, thus, after a certain period of time, they get a large amount. This is the crypto storage, perhaps we are talking about any wallets that store currency, and thus used for the exchange. After all, funds are withdrawn from this account, as the main ones for the site, as well as yours!

[lange_marck 40]

So i know it who is the man.In this way naney people earn money by it.it is mejhinking about what crypto custodian, actually Crypto custodian is very important to hold Crypto and trade...

[Nicole018 4548]

Thank you for the new piece of information. I was not aware of the existence of this crypto custodian. now I see that the crypto custodian are really beneficial to the user's for storage and security of the crypto. Looking forward to more such post that can be helpful for new users like us.

[mohamedpc1 2213]

Honestly, I did not know this thing and I do not know if it was true, but from my point of view it is not possible to recover the stolen coins and the best evidence is what happened with the Cryptopia platform two years ago and with the intervention of the electronic police, they could not do anything and we lost all our coins.My advice: Do not leave all your coins on the platforms, no one can help you when you lose them...

[Cryptomint 433]

If it will not give us back the stolen value. So we should get the direct ownership. If they can't do this so why we should rely on it.?

[Fixfin 2569]

This is interesting. I think that the modern crypto custodians are Grayscale and perhaps the banks that will follow, that do not give the Bitcoin to the investors but hold them in custody in cold storage wallets and give access to shares that are later allowed to be traded.

[percare 3192]

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

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

As I know this the Bitcoin custody is holding the Bitcoin as investment but I don't think they will not be liable in case of theft or mistake that will create loss of funds from an account. If there is no guarantee then these services will not be helpful.