Witnessing the challenges to adequate funds storage, the crypto, and blockchain community happen to be facing the rise of the best cryptocurrency custody service providers. Usually, hard wallets holding crypto have been corrupted or lost, hence resulting in loss of funds. At the same time, crypto exchange platforms are being hacked with stolen funds as a result.
Since the release of Bitcoin in 2008, cryptocurrency and blockchain have developed to be one of the quickest proliferating industries. Daily, immense potential and several projects are being launched throughout the globe.
It leads to an exponential increase in the value generated within the sector. Coming to an understanding, such a value requires to be secured. The inherent security features of blockchain might not be sufficient in this regard. Due to this, highlighted below are the top 10 crypto custody service providers. Before diving deeper into the topic, understanding cryptocurrency custody service, in general, happens to be essential.
Simply put, a crypto custody service happens to be an off-chain and secure storage solution for crypto. Although available to users individually, such services usually happen to be designed for institutional investors storing large fund amounts.
For ensuring optimum security, best-in-class cryptocurrency custodians usually utilize a combination of cold and hot wallets. Hot wallets refer to online wallets and therefore are prone to hacks. On the other hand, cold wallets enhance security and store funds offline. However, it hampers availability to an extent.
Businesses hold and transact cryptos worth millions of dollars. This demands specialized and professional storage solutions. Therefore, the need and demand for reliable cryptocurrency custody service providers happen to be on the rise.
Now that you are fully aware of the significance of Crypto custody services, it will be worth discussing the state-of-the-art cryptocurrency custodian service providers.
PayBito cryptocurrency custody service was developed by experts for aiding financial professionals. With their wallet service, one can leave their funds safely in the custody of an experienced and reputable team. Focusing on simplicity and convenience, they have created an attractive and user-friendly interface that saves a lot of time and hassle. Coming with immense benefits, PayBito’s cryptocurrency custody solution has flexible pricing with no minimums and a free setup.
In the Crypto custody domain, BitGo happens to be controlled under the division of Banking within South Dakota. Usually a cold wallet provider of custody services, the platform comes with peer-reviewed, segregated, and battle-tested accounts concerning extreme reliability and security.
Timely third-party audits further assure the updated relevance of the platform in terms of performance and security. Other than that, the Crypto assets in custody happen to be covered by notable insurance of 100 million US dollars.
Being a Crypto custody service provider concentrating on institutional affairs, Digivault operates with a detailed realization of the hurdles to the mass adoption of cryptocurrency.
The security of private Crypto wallets and cryptocurrency exchanges remains above all with Digivault. Contrarily, the cryptocurrency custodian service of Digivault happens to be secure by their design, hence combining both cold and hot storage solutions. It offers end users a perfect balance of liquidity and security.
Established in 2017, Anchorage started offering the most advanced Crypto custody solution when it comes to security. They happen to be based in the United States and the organization serves either high net worth retail and institutional investors. They additionally provide staking, financing, trading as well as governance services.
Bakkt is referred to as a digital asset futures exchange established by the Intercontinental Exchange. The Intercontinental Exchange was additionally responsible for developing the New York stock exchange.
In late 2019, after acquiring the digital asset custody and companies, the Bakkt Warehouse cryptocurrency custody service was provided to the institutional investors. It is one of those services that boast top-level reliability along with fund protection with a 125 million dollar policy of insurance.
Tangany refers to a krypton custody service provider organization that serves businesses and institutional investors. It highlights a modular suite of custody that enables customers to pick from a number of services and products. These incorporate multi-signature cold wallets, warm wallets, crypto payment processing, and node infrastructure. With a large client base in Europe, Tangany caters to 65000 wallets.
Gemini is a cryptocurrency e custody solution provider in the state of New York that stores digital assets. Supporting more than 23 varied assets, it offers services to individuals and institutions. It is backed by a 200 million dollar cryptocurrency custody insurance. Gemini stores each digital asset on its exchange.
Fireblocks happens to be a notable cryptocurrency custodian platform that delivers an enterprise-grade infrastructure when it comes to managing digital assets. They enable a safe transfer of cryptocurrency assets and cater to trading desks, hedge funds, neo banks, and exchanges. Till today, they have a record of transmitting over 9 billion dollars of digital assets worldwide.
Finoa refers to cryptocurrency custody solutions serving institutions, corporations, and high net worth individuals worldwide. Offering staking, trading, and custody services to clients, they depend on warm storage for their clients for carrying out instant withdrawals without jeopardizing security.
OSL provides brokerage, insured custody, and exchange services when it comes to digital asset holdings. It ensures theft, damage, loss, or destruction of digital assets. Offering cryptocurrency protection for either hot and cold wallets leveraging best-in-class encryption, state-of-the-art private key protection, as well as multi-layer authentication, their levels of protection happen to be segregated into 5 categories; process defense, physical defense, slippage detection, digital defense, and insurance.
The significance of Crypto as an asset class happens to be steadily rising day by day. With conventional investors participating in the trip to space increasingly, there happens to be a developing demand for professional and reliable Security Services. Safe fund storage in the cryptocurrency wallet is one of the biggest concerns for facilitating reliable cryptocurrency custodian solutions.