Custody
By Cryptomcmillan1 | Updated on May 24, 2020
In the context of cryptocurrency, a "custodial" asset means an asset is placed under the care of a third party. This is similar to how banks have custody over their customer's funds. A Custodial Wallet refers to a wallet whose private key management falls under the care of a company. Examples of Custodial wallets include Coinbase, Nexo and other wallets where users do not have access to their private keys.
Related Terms
Kimchi Premium
The kimchi premium is the price difference between South Korean exchanges and other global exchanges for bitcoin.
Peer to Peer
A communication protocol that does not require a central hub
PFP
It means both 'profile pic' and 'picture for proof'.
Testnet
Shorthand for "Test Network", testnets are staging areas for experimenting new blockchain features.
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