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
Private Keys
The alphanumeric string which allows transactions from the cryptocurrency address
Testnet
Shorthand for "Test Network", testnets are staging areas for experimenting new blockchain features.
Bitcoin Evangelist
Individuals who are passionate about Bitcoin, and are dedicated in spreading knowlege about Bitcoin
Dutch Auction
A Dutch Auction, also know as an "inverted" auction, starts off with high asking price that decays over time until a pre-determined floor price.
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