b9_1155what is custodial?
a setup where a company, usually an exchange, holds the keys and you hold an account.
you have a claim on the company, not direct control of the coins. if the company fails, freezes withdrawals or gets hacked, your access depends on it.
related words
- self-custody holding the keys to your crypto yourself, instead of a company holding them for you.
- private key the secret that authorises coins to move from an address.
- passphrase ("25th word") an optional extra word or phrase added on top of a seed phrase.
part of the topic after death: free articles, more words and the guide.
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