Term
Self-Custody
Controlling your own private keys rather than relying on a third party.
Type:
wallet
security
1
definition
Self-custody means users hold their keys and are responsible for security practices like backups, device hygiene, and inheritance planning. It eliminates counterparty risk but increases personal responsibility.
Example 1.1
"By moving funds from an exchange to a self-custody wallet and backing up the seed, Alex removes exchange risk but must now secure his own keys."
Related Terms
Non-custodial Wallet
→A wallet where you control the private keys, without relying on a third party to hold your funds.
wallet
security
Custodial Wallet
→A wallet where a third party controls the private keys on your behalf.
wallet
security
Seed Phrase
→A list of words that backs up a wallet; it can recreate all keys and addresses.
wallet
security
All terms and definitions may update as the Cryptionary improves.
