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Self-custody isn’t for everyone: WisdomTree exec on ‘be your own bank’

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cointelegraph.com

While some experts believe that self-custody is one of the genuine purposes of crypto, this way of storing coins is not really suitable for everyone, according to a WisdomTree executive.Will Peck, head of digital assets at New York-based asset manager WisdomTree, believes that self-custody will be a growing trend in the future, but custodial solutions should not be underrated.Some crypto users prefer to self-custody, and WisdomTree supports and respects that decision, the exec said in an interview with Cointelegraph. “That will be a growing segment of the market, and over time we want to build products and services for them,” he stated.As self-custody requires some technical skills and the responsibility to not lose one’s private keys, many may find self-custody way too uncomfortable or too hard to handle, Peck noted.“Of the billions of people and numerous institutional investors on the planet, a large number will lack the technical wherewithal, workflows or interest in holding their own private keys, which introduces a different set of complexities and risks,” the WisdomTree’s executive said.

According to Peck, well-structured custody solutions, including products like crypto exchange-traded products (ETP) or regulated custody tools, can make crypto more accessible to a broader range of people.

Read more on cointelegraph.com
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