Custody
By Cryptomcmillan1 | Updated on May 24, 2020
In the context of cryptocurrency, a "custodial" asset means an asset is placed under the care of a third party. This is similar to how banks have custody over their customer's funds. A Custodial Wallet refers to a wallet whose private key management falls under the care of a company. Examples of Custodial wallets include Coinbase, Nexo and other wallets where users do not have access to their private keys.
Related Terms
Dusting Attack
A new form of malicious activity in which hackers and scammers attempt to undermine the privacy of cryptocurrency users by sending little amounts of money to their wallets.
Transaction Fee
A payment to the network for performing a transaction to be recorded on the blockchain.
Metaverse
The Metaverse is a virtual space where users are able to interact with each other in a computer generated environment.
Oracles
In the context of crypto, oracles refers to services which verify real-world and provide data to blockchains/smart contracts.
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