Bitcoin custodial services increasing

[Charles-Tim]

Before was only the time of exchanges, although it is quite obvious that these exchanges are not secure and safe by design in which over ninety exchanges have been hacked, but custodial services are now more increasing, this will although really help bitcoin as it is possibly going mainstream, this will be achievable in this next decade we are about to enter. Some days ago when PayPal declared in offering bitcoin, ether and litecoin services on there platform, also now reading lately about banks declearing to offer crypto service.

Indian bank to offer crypto services across its 34 branches
For the first time, Indians will be able to take out a loan against cryptocurrencies.
https://cointelegraph.com/news/indian-bank-to-offer-crypto-services-across-its-34-branches

Singapore’s largest bank reportedly launching crypto trading and custody
Another global bank believes that digital assets are the future of the global economy.
https://cointelegraph.com/news/singapore-s-largest-commercial-bank-reportedly-launching-crypto-trading

I belive we should know crypto banks custodial services have begin, I see this as the beginning of bitcoin going mainstream, the time when bitcoin will be used as direct payment is imminent. Although, these custodial services has resulted to many users not knowing the actual means to deal with bitcoin in a noncustodail manner, but the custodial service are helping in making bitcoin to be more adopted globally.

But facts still remain fact, that the best way to privacy is noncustomotdial means, and knowing 'not you key not your bitcoin on blockchain', and this bitcoin adoption will help many noncustodial users to use bitcoin for buying and selling directly instead of still depending on fiats. But, it is like peoples ignorance will make them not to know what bitcoin actually is, that, it is a privacy coins which is compromised by custodial services.

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1715136509

[JakobFugger]

Custodial services are excellent for groups, funds and organizations. Imagine a non-governmental company that accepts donations in Bitcoins. For all, it ends up being more interesting that a third party is responsible for ensuring the custody of these resources. Even for audit reasons, for payment of fees and for better transparency.

[Yogee]

....I belive we should know crypto banks custodial services have begin, I see this as the beginning of bitcoin going mainstream, the time when bitcoin will be used as direct payment is imminent.

I don't know about bitcoin as direct payment. Has any country declared BTC as an actual currency or a legal tender? I haven't read anything about that. It's widely considered as an investment asset. I see these custodial services as the Government's and businesses workaround to take advantage of bitcoin's popularity. They want people who holds BTC to spend it on their platform but they don't want to deal with price volatility themselves. They would rather partner with someone who will act as an exchange like what Paypal did with Paxos.

Although, these custodial services has resulted to many users not knowing the actual means to deal with bitcoin in a noncustodail manner, but the custodial service are helping in making bitcoin to be more adopted globally.

As much as I don't want to admit it, there is truth to this. We can only hope that those who learned or heard about BTC from custodial platforms will also expand their knowledge then find out more about non-custodial wallets, blockchain and decentralization.

[Parking_Meater]

I'm really torn on this because custodial services where you don't actually have the key go against almost the very core aspect of what bitcoin is. What's to prevent a run or collapse of a custodial service just wiping all youur assets? On the other hand working in technology I know how inept the general public is towards security. Not sure what the solution is but always true "not your keys not your coin"