Self-custody is not for everyone: WisdomTree exec on 'be your own bank'

Because personal custody places a great deal of responsibility on a user, many may find it too uncomfortable or difficult to handle.

While some experts believe self-custody is one of the true purposes of crypto, this way of storing coins isn't really for everyone, according to a WisdomTree executive.

Will Peck, head of digital assets at New York-based asset manager WisdomTree, believes self-custody will be a growing trend in the future, but custodial solutions shouldn't be underestimated .

Some crypto users prefer self-custody, and WisdomTree supports and respects that decision, the executive said in an interview with Cointelegraph. "It will be a growing market segment, and over time we want to create products and services for them," he said.

Because self-custody requires certain technical skills and the responsibility of not losing one's private keys, many may find self-custody too uncomfortable or too difficult to manage, Peck noted.

"Of the billions of people and many institutional investors on the planet, many will not have the technical wherewithal, the workflows, or the interest to hold their own private keys, which introduces a different set complexities and risks," said the director of WisdomTree. said.

According to Peck, well-structured custody solutions, including products such as crypto exchange-traded products (ETPs) or regulated custody tools, can make crypto more accessible to a wider range of people. However, this requires vigilance and an understanding of what users are actually signing up for to avoid risky activity with client assets.

"If you're worried about 'not your keys, not your coins', you just need to understand who this company is, what their reputation is, how they pass regulation or not," Peck said. . He added that self-care has been all the rage in the community over the past few months as companies like the