Looking after your digital assets

Written by Sean Au

When new technologies are invented, the first questions people have is, what is it and how does it work? Take electric cars for instance. Questions such as what the range is, what the maintenance costs are and how long does it take to recharge, are often first asked. Crypto currency is no different. Even though Bitcoin has been around since 2009, questions such as, how do I store it and what happens if I lose it or if it is stolen, are very common. The obvious answer to the question, “How do I store cryptocurrencies?” is often, “in a wallet”, but that doesn’t help a newbie in the crypto space. The real answer is often, “Do you want to have full control over your crypto or do you want someone else to look after it for you?” To a crypto maximalist, the answer is obvious - always control your own crypto, and in the early days this was the only option. Nowadays there are custodial solutions available - custodial solutions being where users store their crypto with a 3rd party institution, …