Cryptocurrency Q&A
Is edX a 'custodial' exchange?
Is edX a 'custodial' exchange?
Rosalia
Fri Jul 12 2024
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6 answers
1808
Could you elaborate on whether edX is categorized as a 'custodial' exchange? It's crucial to understand the difference between custodial and non-custodial platforms in the cryptocurrency realm, as they offer varying levels of control and security to users. A custodial exchange typically holds users' private keys and thus manages access to their funds, while a non-custodial exchange empowers users with self-custody and control over their private keys. Clarifying this distinction would help users assess the risks and benefits associated with using edX for their crypto transactions.
6 answers
SamsungSpark
Sun Jul 14 2024
EDX Markets operates as a 'non-custodial' exchange, a unique approach that ensures customer funds remain secure.
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SakuraBloom
Sun Jul 14 2024
By not holding customer crypto directly, EDX relies on a trusted third-party custodian to safeguard assets.
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Raffaele
Sun Jul 14 2024
This approach reduces the risk of theft or mismanagement of funds, giving investors greater confidence in the platform.
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Davide
Sun Jul 14 2024
EDX Markets, a cryptocurrency platform backed by Schwab and Fidelity, has commenced trading operations for various digital currencies.
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MysticStar
Sun Jul 14 2024
The platform offers trading services for bitcoin, ether, litecoin, and bitcoin cash, catering to the diverse needs of investors.
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