What is crypto custody? Who really holds your coins
By SendPay Business · · 2 min read
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Crypto custody is about who holds the private keys that control a crypto balance. Whoever holds the keys can move the coins, so custody decides who you are trusting to keep them safe.
Custodial vs self-custody
With a custodial service, such as most exchanges and many apps, the provider holds the keys and you log in to an account. With self-custody, you hold the keys yourself, usually through a wallet protected by a seed phrase.
The trade-offs
Custodial services are easier to use and can help if you forget a password, but you rely on the provider staying secure and solvent. Self-custody removes that reliance, but if you lose your seed phrase or it is stolen, there is usually no way to get the coins back.
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Questions people ask
Would a multisig set-up be safer?
See how many keys you can lose and how many a thief needs.
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Spotted a mistake or something out of date? and we'll fix it. How our guides are made
This guide is general information, not legal or financial advice. SendPay Business is a technology company, not a bank, and does not take deposits; regulated services on the platforms are provided by licensed partners. Other companies named in this guide are reference points only and are not affiliated with SendPay Business.