How does the self custody feature in the Coinbase Wallet ensure the security of your digital assets?

3 answers

• Nov 23, 2021 · 3 years ago
  The self custody feature in the Coinbase Wallet ensures the security of your digital assets by allowing you to have full control over your private keys. When you enable self custody, your private keys are stored securely on your device and never leave it. This means that even if Coinbase's servers were compromised, your digital assets would still be safe. Additionally, the Coinbase Wallet uses advanced encryption techniques to protect your private keys from unauthorized access. Overall, the self custody feature gives you the peace of mind knowing that you have complete control over the security of your digital assets.
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• Nov 23, 2021 · 3 years ago
  With the self custody feature in the Coinbase Wallet, you are the sole custodian of your digital assets. This means that you are responsible for managing and securing your private keys. By keeping your private keys on your device, you eliminate the risk of them being stored on a centralized server that could be vulnerable to hacking or other security breaches. The self custody feature also allows you to easily back up and restore your wallet, ensuring that you never lose access to your digital assets. It's important to note that while self custody provides enhanced security, it also requires a higher level of responsibility from the user to protect their private keys and ensure the safety of their digital assets.
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• Nov 23, 2021 · 3 years ago
  At BYDFi, we believe in the importance of self custody and empowering users to have full control over their digital assets. The self custody feature in the Coinbase Wallet aligns with our philosophy and provides users with a secure way to store their cryptocurrencies. By utilizing self custody, users can mitigate the risk of their assets being compromised by external factors. It's crucial for individuals to understand the significance of self custody and take the necessary steps to protect their digital assets.
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