There’s no excuse not to spend a few hours researching how to properly guard your crypto, according to Glassnode’s leading on-chain analyst James Check. Joining the latest self-custody debate, the analyst pushed back on the idea that managing private keys is too complicated and risky for the average crypto user.
“If you have gold in your vault, if you have cash in your wallet, it’s the same concept: You have to exercise a level of responsibility,” Check said in an interview with Cointelegraph.
Check argued that while third-party custody and semi-custody solutions such as collaborative custody may seem easier for the average user to use, they also have their own, even larger risk vectors.
For the analyst, when it comes to custody, “there are no solutions, only compensation.” His position is that being in full control of one’s own crypto and eliminating third-party risk is well worth the effort of learning how to keep a wallet’s 12-word seed phrase secure.
Cast your vote now!
Ultimately, Check believes that the amount of time and effort spent learning self-custody should scale proportionally to the size of the properties.
“If you’re not willing to spend more than five minutes, don’t spend more than five dollars. If you’re willing to put in 100 hours now, you can start talking about making your significant savings,” he said.
To learn more about Check’s approach to self-custody, check out the full interview on Cointelegraph’s YouTube channel, and don’t forget to subscribe!
Source: news.google.com