Cryptocurrency Q&A
What is custodial vs non-custodial Coinbase?
What is custodial vs non-custodial Coinbase?
BonsaiBeauty
Fri Nov 29 2024
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7 answers
1624
I'm trying to understand the difference between custodial and non-custodial Coinbase. I want to know how they differ in terms of security, control over funds, and any other key aspects.
7 answers
emma_carter_doctor
Sun Dec 01 2024
This third-party management alleviates the user from the burden of securing their digital assets, as the service provider employs advanced security measures to safeguard the funds.
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Stefano
Sun Dec 01 2024
On the other hand, self-custody wallets empower individuals to take complete control over their private keys and funds.
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Stefano
Sun Dec 01 2024
In contrast to custodial wallets, users of self-custody wallets are solely responsible for the security of their digital assets.
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Maria
Sun Dec 01 2024
Typically, access to self-custody wallets is facilitated through a 12-word recovery phrase, which serves as a unique identifier to retrieve the wallet in case of loss or theft.
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Eleonora
Sun Dec 01 2024
Custodial wallets represent a financial arrangement where a third-party entity undertakes the responsibility of managing private keys and funds on behalf of the wallet holder.
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