Imagine being your own bank. That’s what self-custody is. Normally, when you keep money in a bank or an exchange, you’re trusting them to keep it safe and give you access when you need it. With self-custody you control your bitcoin. That means you decide when, where, and how to move your bitcoin without relying on anyone else.
Satoshi Nakamoto, Bitcoin’s creator, described the vision clearly:
“A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution.”
This idea is at the heart of Bitcoin self-custody: control without intermediaries.
Bitcoin’s value as a censorship-resistant, finite, and bearer asset is only meaningful if you self-custody. It isn’t just about safekeeping; it’s about financial sovereignty. However, this freedom comes with added responsibilities. It means you are solely responsibly for keeping your bitcoin safe and secure.
In practice, self-custody starts with creating your own bitcoin wallet, either on your phone or a small hardware device. Then, you record a backup to recover your funds if something goes wrong. Next, you move your bitcoin to your self-custody wallet. Now, your bitcoin is truly yours.
Still have questions? Book a call with our Concierge team today for self-custody support.