What is crypto custody?

Simply put, crypto custody means securing the private key that proves you own of the funds held within your crypto wallet. In traditional banking, all custodians are financial institutions, as required by law. With crypto, however, holders have the opportunity to become their own custodians.

How does a custodial account work?

How a Custodial Account Works Once established, a custodial account functions like any other account at a bank or brokerage. The custodian—a designated manager or investment advisor—decides how to invest the money. The account manager—or other entities—can continue to contribute to the fund.

A non-cu a wallet a crypto wallet?

Great places to buy into crypto but for the most part – move your purchases to a non-custodial wallet asap. Non-custodial wallets, on the other hand, give you full control over your money, meaning that you hold your own private keys. The keys are stored on your personal device. Web Wallets – your private keys are stored on the web browser.

Do banks offer cryptocurrency custodian services?

Within the cryptocurrency ecosystem, very few mainstream banks offer custodian services. Kingdom Trust, a Kentucky-based custodian, was the largest such service for cryptocurrencies until it was purchased by BitGo, a San Francisco-based startup. What Are Cryptocurrency Custody Solutions?