The importance of self-custody

  /  Xapa News   /  The importance of self-custody
It is of great importance for a beginner to fully understand the importance of self-custody, which is why we have put together this informative guide to help you with your decisions and investment. If you are a beginner who is interested in cryptocurrency and intends to start an investment but does not feel quite ready yet, this is definitely going to help you.
Self-custody in other words, means freedom but it is not that easy. You, as a successful investor have to know what it really means and what is at stake. You take your first step into “self-custody” the very moment you install a wallet on your pc or mobile device, by accepting the fact that only you, and not anybody else in this world is responsible for your cryptocurrency. Now what do we mean when we say you have to know what is at stake? It means if you have chosen an untrusted wallet and then by any chance you lock yourself out of your wallet, cannot remember your key or password, share these private information with someone you don’t know, all the unpleasant result will be just your fault. You know in Worst case, the person may turn out to be a hacker. So, Keep in mind that it is totally in your hand to keep your info safe, all the time.
Being in charge of your own possessions and belongings is without a doubt, a very important thing. But if you are a responsible person, you may be asking yourself why all this is not considered a disadvantage? Is interacting with the world with no censorship, no financial permission and no third-party involvement a disadvantage? Surely not. But how is it considered a feature?

Self-custody is important because:

In the world of today, inflation is weakening fiat currency through various forms, which is why it is not a reliable store of value anymore. Precious metals like gold and silver are losing their strength and are losing to bitcoin despite their efforts.
That is exactly why self-custody is more important than anything else today.
Because, the best way to make sure that your wealth will be preserved for the future, is to invest in cryptocurrency and by self-custody, you can verify that your wealth is cryptographically in your possession without having to trust a third-party and that, under no circumstance and by no authority can be seized or taken from you.
Follow Xapa on social media for more

Post a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.