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
Unspent Transaction Output
(abbv. "UTXO") Coins that are unspent in the wallet. UTXO virtually represents the cryptocurrency one own in the wallet.
Privacy Coins
Cryptocurrencies that are designed with transaction anonimity and user privacy in mind.
Limit Order / Limit Buy / Limit Sell
Orders placed by traders to buy or sell a cryptocurrency when a certain price is reached
Tangle
The name for IOTA's Directed acylic graph (DAG) based transaction settlement layer.
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