{"id":8810,"date":"2022-09-30T05:15:49","date_gmt":"2022-09-30T05:15:49","guid":{"rendered":"https:\/\/mdr.foobrdigital.com\/?p=8810"},"modified":"2022-09-30T05:15:49","modified_gmt":"2022-09-30T05:15:49","slug":"returning-to-the-concept-of-custody","status":"publish","type":"post","link":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/2022\/09\/30\/returning-to-the-concept-of-custody\/","title":{"rendered":"Returning To The Concept of Custody"},"content":{"rendered":"\n<p>If you read the first article in this section you\u2019ll be familiar with the concept of&nbsp;<strong><em>custody<\/em><\/strong>, which is central to cryptocurrency ownership. Custody refers to how you manage responsibility for the one critical piece of information that enables control of your crypto &#8211; a&nbsp;<strong><em>Private Key<\/em><\/strong>&nbsp;or&nbsp;<strong><em>Seed<\/em><\/strong>.<\/p>\n\n\n\n<p>As cryptocurrency works without a central authority like a bank, possession is ownership, and simply boils down to one of the most important ideas you can learn: \u2018<em>Not your keys, not your coins<\/em>\u2019<\/p>\n\n\n\n<p>Custody simply refers to the two options for ultimate responsibility of those keys; you can assume full responsibility yourself, or trust someone else to look after it.&nbsp;<\/p>\n\n\n\n<ol><li>Look after crypto yourself &#8211; non-custodial<\/li><li>Trust someone else to look after your crypto &#8211; Use a custodial service<\/li><\/ol>\n\n\n\n<p>It is up to you to decide which option is best for you, understanding the threats to loss and theft specific to the two options &#8211; Custodial &amp; Non-Custodial.<\/p>\n\n\n\n<p>Your decision will also be dependent on how much crypto you own, which in turn will relate to the severity of potential risks to its security..<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-regular\"><table><tbody><tr><td>Threat<\/td><td>Relevant to Custodial or Non-Custodial<\/td><\/tr><tr><td>Loss of data\/access details<\/td><td>Both<\/td><\/tr><tr><td>Phishing<\/td><td>Both<\/td><\/tr><tr><td>Brute Force Attack<\/td><td>Custodial<\/td><\/tr><tr><td>SMS Hijacking<\/td><td>Custodial<\/td><\/tr><tr><td>DNS Spoofing<\/td><td>Both<\/td><\/tr><tr><td>In person attack<\/td><td>Non-Custodial<\/td><\/tr><\/tbody><\/table><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>If you read the first article in this section you\u2019ll be familiar with the concept of&nbsp;custody, which is central to cryptocurrency ownership. Custody refers to how you manage responsibility for the one critical piece of information that enables control of your crypto &#8211; a&nbsp;Private Key&nbsp;or&nbsp;Seed. As cryptocurrency works without a central authority like a bank, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[499],"tags":[],"_links":{"self":[{"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/posts\/8810"}],"collection":[{"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/comments?post=8810"}],"version-history":[{"count":0,"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/posts\/8810\/revisions"}],"wp:attachment":[{"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/media?parent=8810"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/categories?post=8810"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/tags?post=8810"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}