Was crypto self-custody ever designed for beginners?
Recent hardware wallet security incidents have renewed debate over whether self-custody is suitable for beginners, as multisig and seedless designs carry their own risks.
Crypto executives are divided over whether self-custody was ever designed for beginners, while approaches such as multisignature wallets and seedless backups come with their own security and usability trade-offs.
“We don’t expect every driver to be a mechanic, and we shouldn’t expect everyone who wants to own their assets to become a security expert,” Safe Labs CEO Rahul Rumalla told Cointelegraph.
Making self-custody easier to use could be critical to Bitcoin’s broader adoption, as the ability to “be your own bank” remains one of its defining features.