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.

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Related Terms

Privacy Coins

Cryptocurrencies that are designed with transaction anonimity and user privacy in mind.

REKT

A shorthand slang for “wrecked”, typically describes bad trades that results in losses.

Wallet

Software client that handles storage of cryptocurrencies and allows users to send cryptocurrencies.

Public Blockchain

An open sourced blockchain where participation is public and permissionless

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