What steps can you take to secure your cryptocurrency assets if you don't have control over your wallet's keys?

3 answers

• Dec 25, 2021 · 3 years ago
  One important step you can take is to choose a reputable and secure custodial wallet service. These wallets are managed by trusted third-party companies that have implemented strong security measures to protect your assets. While you may not have direct control over your keys, these custodial wallets offer enhanced security features such as multi-factor authentication and cold storage for your private keys.
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• Dec 25, 2021 · 3 years ago
  Another option is to diversify your cryptocurrency holdings across multiple wallets and exchanges. By spreading your assets across different platforms, you reduce the risk of losing all your funds if one wallet or exchange is compromised. However, it's important to thoroughly research and choose reputable wallets and exchanges to ensure the security of your assets.
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• Dec 25, 2021 · 3 years ago
  If you're using BYDFi, a decentralized finance platform, you can leverage smart contracts to secure your cryptocurrency assets without relying on a centralized custodian. Smart contracts are self-executing contracts with the terms of the agreement directly written into code. They provide transparency, security, and eliminate the need for intermediaries. BYDFi allows you to have full control over your assets while benefiting from the security and efficiency of blockchain technology.
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