Preferring institutional custody over self-storage. Two reasons.
Here’s a Thought! 8 July, 2020, by Vladimir Rojankovski, Chief Analyst, Grand Capital
As Bitcoin prices continue to move towards the $10,000 price mark, many investors are putting more thought into security of their crypto assets storage. A recent survey done by iTrustCapital showed that 71% of customers feel more safe having their assets stored with an institutional custody provider as opposed to storing their own private keys.
Investors named two main reasons why they prefer institutional custody over self-storage. The first reason is the complexity and risks associated with not only generating their own private keys, but then having to securely store them as well. The second reason was around beneficiaries and how only proper custody allows their loved ones to be able to redeem the digital asset wealth if the owner passes away.
As Bitcoin prices continue to move towards the $10,000 price mark, many investors are putting more thought into security of their crypto assets storage. A recent survey done by iTrustCapital showed that 71% of customers feel more safe having their assets stored with an institutional custody provider as opposed to storing their own private keys.
Investors named two main reasons why they prefer institutional custody over self-storage. The first reason is the complexity and risks associated with not only generating their own private keys, but then having to securely store them as well. The second reason was around beneficiaries and how only proper custody allows their loved ones to be able to redeem the digital asset wealth if the owner passes away.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.