Cryptocurrency Q&A
What are the risks of crypto custody?
What are the risks of crypto custody?
CryptoVisionaryGuard
Wed Oct 30 2024
|
7 answers
1307
I'm concerned about the potential risks involved in crypto custody. I've heard stories of hacks and loss of funds, and I want to understand what are the specific risks I should be aware of when it comes to storing cryptocurrencies safely.
7 answers
JejuSunshineSoul
Fri Nov 01 2024
Crypto custody encompasses various risks associated with the safeguarding of cryptographic assets.
Was this helpful?
47
74
CryptoNerd
Fri Nov 01 2024
One such risk is confidentiality, which pertains to the possibility that unauthorized individuals may gain access to private keys and their backups.
Was this helpful?
271
20
Giulia
Thu Oct 31 2024
This unauthorized access can lead to severe consequences, including theft of funds and loss of trust in the crypto custody provider.
Was this helpful?
210
96
MountFujiVista
Thu Oct 31 2024
BTCC's wallet service, in particular, aims to mitigate the risks associated with crypto custody by employing advanced security measures.
Was this helpful?
209
83
Lucia
Thu Oct 31 2024
Another risk in crypto custody is availability, which involves the concern that private keys and their backups may become inaccessible.
Was this helpful?
105
62
Load 5 more related questions
