Jameson Lopp warns Bitcoin holders against giving up self custody

Casa chief security officer Jameson Lopp has urged Bitcoin holders not to abandon self custody in favor of ETFs and third party custodians following a series of cryptocurrency wallet security incidents. Jameson Lopp has urged Bitcoin holders not to abandon self custody despite. Lopp warned that Bitcoin ETFs and third party custodians do not eliminate security risks but leave investors dependent on institutions to safeguard their holdings. Recent incidents have raised questions about the safety of managing Bitcoin independently. Lopp recommended multisig wallets and distributing private keys across different locations and hardware suppliers to reduce the risk of losing funds. Bitcoin holders are advised to review their security arrangements and prepare for situations where they may no longer be able to access their funds.

First reported by crypto.news. This page is a short excerpt; the full text is theirs.