How do custody fees for cryptocurrencies compare to traditional banking fees?

3 answers

• Nov 26, 2021 · 3 years ago
  Custody fees for cryptocurrencies and traditional banking differ in several ways. Cryptocurrencies often have lower custody fees compared to traditional banking, as they do not require physical storage or extensive infrastructure. Additionally, cryptocurrencies may offer more flexibility in terms of custody options, such as self-custody or third-party custodians. However, it's important to note that custody fees can vary among different cryptocurrencies and banking institutions.
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• Nov 26, 2021 · 3 years ago
  When it comes to custody fees, cryptocurrencies can be more cost-effective than traditional banking. With cryptocurrencies, you have the option to choose self-custody, which means you hold your own private keys and don't rely on a third-party custodian. This eliminates the need for custodial fees altogether. On the other hand, traditional banking often charges custody fees for holding and safeguarding your assets. These fees can vary depending on the bank and the type of account you have.
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• Nov 26, 2021 · 3 years ago
  BYDFi, a leading cryptocurrency exchange, offers competitive custody fees for its users. With BYDFi, you can enjoy low custody fees while ensuring the security of your digital assets. Compared to traditional banking, BYDFi's custody fees are often more affordable and transparent. It's important to research and compare custody fees across different platforms to find the best option for your needs.
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