Anyone from the community experienced in the binance custody arena?

Question

Anyone from the community experienced in the binance custody arena?

Just cool to hear what this means from a meer investor perspective. Could we expect more volatility? More coti "locked" up in contracts, tell me like a noob what this means 😉 I wouldn't be the only one....wait think I need to reread the document 🤣

#coti #cryptocurrency #english

0

08.06.2022

4 ответов

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Geordie R Автор вопроса

Danny Eng 🇸🇬
Can you enlighten us after you reread the document...

I've never used custody so I'm not much further enlightened to be fair

0

08.06.2022

Lgbeano

It means if you want someone else to look after your crypto, usually at a cost, the binance are offering custody services. Companies for example might use a custody service (coinbase is another known custody service) to look after their assets. Those assets are then insured and it's not relying on individuals within the company to secure and protect the seed words / private keys.

0

08.06.2022

Fireflight

Since it's about the coins that are not in circulation, I think it's just about safe cold storage of those locked tokens. A custodial keeps those coins safe with the best security in place. Not that the other locked tokens aren't protected, probably another custodial is keeping it safe, but by using binance custodial services, they strengthen the partnership with binance 💪

0

08.06.2022

Danny Eng 🇸🇬 · Accepted Answer

Danny Eng 🇸🇬

Can you enlighten us after you reread the document?

0

08.06.2022

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Anyone from the community experienced in the binance custody arena?

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