some advice from an analyst

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There’s no excuse not to spend a few hours researching how to properly hold your crypto, according to chief on-chain analyst James Check. Joining the latest self-custody debate, the analyst pushed back against the idea that managing private keys is too complicated and risky for the average crypto user.

If you have gold in your safe, if you have cash in your wallet, it’s the same concept: you have to exercise a level of responsibility, Check said in our last interview with Cointelegraph.

Check argued that while third-party and semi-custodial solutions such as collaborative custody may seem friendlier to the average user, they also have their own, even greater risk vectors.

For the analyst, in matters of police custody, “there are no solutions, only compromises”. His position is that having full control of your own crypto and eliminating third-party risk is well worth the effort of learning how to protect your wallet’s 12-word seed phrase.

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Ultimately, Check pointed out that the time and effort a person should put into learning self-care should be proportional to the size of their holdings.

If you’re not willing to put in more than 5 minutes, then don’t put in more than $5. If you’re ready to put in 100 hours now, you can start talking about making your big savings, he said.

To learn more about Check’s approach to self-care, check out the full interview on our YouTube channel and subscribe!

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