The ongoing crisis of cryptocurrency lending and the associated crypto market decline once again confirms the importance of self-custody or the “true ownership” of crypto by its holder, according to several industry experts.
In June, the cryptocurrency market capitalization plummeted below the $1 trillion mark, with Bitcoin (BTC) nearing its worst monthly losses since 2011. It remains to be seen whether crypto lending would survive the current crypto winter. Still, several industry executives agree that investors can protect their assets forever by simply moving them to self-custodial or noncustodial wallets.
Crypto self-custody is about letting consumers fully control their keys and the fate of their crypto, according to Adam Lowe, chief product and innovation officer at the Arculus crypto wallet.
“Self-sovereignty supports balance and self-regulation, and is beneficial to the entire digital asset ecosystem,” Lowe said in a statement to Cointelegraph.
Read the full article: Self-custody is key during extreme market conditions: Here’s what experts say
