Quick question, Is it laziness or fear keeping people from self-custody?

[Bit-Mj1014]

No offense to anyone, but I'm genuinely curious why self custody isn't the standard yet on this board. Every week we see posts about people losing access to accounts or dealing with platform issues, yet the advice of not your keys, not your coins still gets ignored. If you haven't moved your funds to a private wallet yet, what specifically is stopping you? Let's fix this point of congestion in this thread.

[Israelgogo]

No offense to anyone, but I'm genuinely curious why self custody isn't the standard yet on this board. Every week we see posts about people losing access to accounts or dealing with platform issues, yet the advice of not your keys, not your coins still gets ignored. If you haven't moved your funds to a private wallet yet, what specifically is stopping you? Let's fix this point of congestion in this thread.

One thing is that there's a general knowledge of the platform and individual knowledge. Most at times we know there are rules and procedures in every organization but we choose to apply our sef knowledge of doing it alone. Many times I have lost access to wallet and account because I always ignore the primary knowledge of what I should follow, rather do what I think is right. So what for people to stop you or teach how to store your keys is someone who is not willing to learn.

[Ishicryptic]

Do you have a proof that self custody isn't a standard on this board or are you just insinuating it? Losing access to your exchange account due to issues in an exchange has nothing to do with self custody, you can have a none custodial wallet to keep your coins and also have an exchange account for trading and for p2p transactions. I believe that most of us that have been in this platform for more one year would know better than leaving our coins for savings or investment in a centralized platform because like you mentioned if it's not your keys it's not your coins.

I think that you should have narrowed your advice to newbies specifically who don't have any experience about the crypto space than generalizing it for both experienced members here on this board. What keeps people from self custody is basically ignorance, they don't understand the concept of "not your keys not your coins" while some understand but they have fears of holding their seed phrase by themselves so they won't misplace it.

[Livingleged]

I think that you should have narrowed your advice to newbies specifically who don't have any experience about the crypto space than generalizing it for both experienced members here on this board. What keeps people from self custody is basically ignorance, they don't understand the concept of "not your keys not your coins" while some understand but they have fears of holding their seed phrase by themselves so they won't misplace it.

This is true ignorance  and laziness  are the main factor  that actually  keep a lot bitcoin users away  from self custody, most new users can't really  different  between  the wallet that are custodial  and the once  that are non costodial wallet. They assume  as long as you're having  bitcoin  you're self custody  but it isn't so, it practically  depends  on how you handle  it. where laziness  come into play is users who actually  Do not want to be responsible  for their  keys and prefer  to keep their holding  in the CEX where dey will not be responsible  for any seed phrase to the wallet just passkey  is enough  for them to get access  to the their funds and can also retrieve access if dey forget passkey  via forget  password.

[Marvelockg]

No offense to anyone, but I'm genuinely curious why self custody isn't the standard yet on this board. Every week we see posts about people losing access to accounts or dealing with platform issues, yet the advice of not your keys, not your coins still gets ignored. If you haven't moved your funds to a private wallet yet, what specifically is stopping you? Let's fix this point of congestion in this thread.

One thing is to know the importance of self custody and another is being able to transfer what you've known to reality because knowledge alone doesn't take you anywhere without proper implementation. Some times, users wants to transfer Thier asset to self custodial wallet but keeps on postponing doing so over and over again.

Fear doesn't stop any investor from using self custodial wallet because what it should actually do is to encourage them to use It if they are considering that not doing so means that they are gambling with Thier asset. At the end, people will learn some lessons the hard way as a result of not being able to use others mistake as a means of learning Thier lessons. If you're careless with the security and safety of your asset, if things goes wrong, you don't have the right to come lament on the forum.

[Itz-prisigold]

I don't think it's actually fair to reduce it down to things like laziness or fear. In fact, it's a mix of lack of knowledge, convenience and responsibility for many.

It's easier to keep money on an exchange,  as you don't have to take care of anything yourself because everything is been handled for you.  As soon as you switch to self custody, you take full responsibility for your seed phrase and wallet's security. This can be challenging mostly if you're a beginner and don't want to lose all your coins by making a single error.

Another aspect is that many users don't hold Bitcoin in their long term.  Some trade frequently or have small amounts, so they don't have an immediate reason to withdraw their money, but unfortunately, this can give the false sense of security. Most people do not understand the importance of self custody until they encounter a situation where they freeze their exchange, where they are unable to withdraw the funds,  or where someone they know loses their funds.

I believe the best way to go is not to demonize those who are not converted, but to inform them. However, once a person has understand the concept of self custody, how to properly back up their seed phrase, and probably do small practice with a little amount first, then the fear typically goes away. Self custody has a little bit of a learning curve,  but one of the most crucial lessons for anybody that's serious about Bitcoin.

[Felicity_Tide]

No offense to anyone, but I'm genuinely curious why self custody isn't the standard yet on this board.

I'm also genuinely curious why you think self custody is not a standard yet on this board.
Afaik, there are no ways to tell what people practice as individuals. There have been some good discussions about self custody, so it's much easier to assume that people here prefer self custody, although that might not enough reason.

Every week we see posts about people losing access to accounts or dealing with platform issues, yet the advice of not your keys, not your coins still gets ignored.

Okay?, so what does that have to do with the board?.
Are there recent post from anyone, making a complaint?. I think it's best we stick to facts. Of course, there are people out there who have such problems, but I don't think I have noticed such on this board as far as self custody problem is concerned. Whatever people choose to discuss here only stick to those who come across them. I might have missed some of the discussions you're referring to, but i would appreciate if you share them.