It is a fact that owning an asset involves certain risks. Every property, product, and asset owned by a person has a certain risk, and this risk can only be minimized by taking precautions. Zero risk means zero assets. If there is an asset, there will always be a risk.
The important thing is to find ways to minimize the risk.
When it comes to crypto assets there are two basic securing ways to protect your assets from malicious people and software. When you decide to own and trade cryptocurrency it will lead you to a gate of an Exchange.
The vast majority of these crypto exchanges will invite you to become a member of their system and trade in the custodial wallets they have created for you. By signing up for these exchanges you will find their most advanced interfaces, graphics, useful trading systems.
The most important thing, in that case, Exchanges do not want you to keep the wallet keys secure. Instead of that you just have to keep secure your passwords, that’s all. Even you forget your passwords you can apply the Exchanges and most probably you recover your account.
In fact, with this method, you put all the responsibility on you to the Exchanges. We can formulate that like this ”If you have no non-custodial wallet you are not required any responsibility”.
Nice for now, but what about your assets’ authority?
Responsibility and authority are two realities that coexist in human life, and when one is absent, the other disappears.
If you use a custodial wallet, you are entrusting your crypto assets to a third party. More precisely, your assets in the custodial wallet are now under the authority of a third party.
Transferring responsibility for crypto assets is nothing more than transferring full authority of your assets to third parties. Those who are wondering what the consequences of this will be can do a little research on “Exchanges’ hacking History’’. You see that your research gives you very dark and terrible consequences.
So what should be done?
First of all, anyone who owns an asset, big or small, and knows that it carries risks, must take responsibility. This responsibility will also give us authority over our assets.
We can only do this with our private wallets or non-custodial wallets.
If crypto assets belong to us, we should be the only ones who can keep them safe. Otherwise, none of us can know what might happen to our assets, whose authority is not in our hands.
There is a very simple process that we need to do, to keep the private words of our own non-custodial wallets in a way that we do not forget. In this way, a small responsibility if we take it, it will give us full authority over our assets.
ByteW offers us this chance. With ByteW you will be able to Ethereum, Binance, Tron networks in the same time. Moreover, with its user interface, it will offer you all the possibilities offered by a central exchange and even more.
It is time to be the sole authority over your assets.
Your Assets, your Wallet; ByteW!