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3rd Feb 2025, 6:51 AM
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Today, 11th Feb 2025, 5:40 AM
A self-custody wallet is a cryptocurrency wallet that gives users full control over their private keys, meaning they are solely responsible for securing and managing their assets without relying on third parties. Unlike custodial wallets, which are managed by exchanges or institutions, self-custody wallets ensure true ownership of crypto but require users to safeguard their keys.https://www.cipherbc.com/cipherbcFlexifyTypes of Self-Custody Wallets:Hardware Wallets – Physical devices that store private keys offline for maximum security Software Wallets – Mobile or desktop wallets that store private keys locally on a device MPC Wallets (Multi-Party Computation) – Advanced security wallets that eliminate single points of failure by splitting private keys Key Features of Self-Custody Wallets:Full Control – No reliance on third parties.
Enhanced Security – Protection against exchange hacks or custodial risks.
Private Key Responsibility – If you lose your seed phrase, recovery is difficult.
Integration with DeFi & NFTs – Direct access to staking, lending, and NFT marketplaces.

changed: cipherbc (11th Feb 2025, 5:40 AM)
 
 
 
   
         
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