{"id":75792,"date":"2023-03-18T10:20:09","date_gmt":"2023-03-18T08:20:09","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=75792"},"modified":"2025-09-10T13:38:19","modified_gmt":"2025-09-10T10:38:19","slug":"vitalik-buterin-underscores-the-importance-of-self-custody-for-cryptocurrencies","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/vitalik-buterin-underscores-the-importance-of-self-custody-for-cryptocurrencies\/","title":{"rendered":"Vitalik Buterin underscores the importance of self-custody for cryptocurrencies"},"content":{"rendered":"<p>Ethereum co-founder Vitalik Buterin urged self-custody of digital assets and wrote a Reddit post about choosing a multisig wallet.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">Self-custody is important. And social recovery and multisig is a great way to do it.<\/p>\n<p>A quick reddit post on how I think about choosing guardians for social recovery and multisig wallets:<a href=\\\"https:\/\/t.co\/FY1iyJ6BFC\\\">https:\/\/t.co\/FY1iyJ6BFC<\/a><\/p>\n<p>\u2014 vitalik.eth (@VitalikButerin) <a href=\\\"https:\/\/twitter.com\/VitalikButerin\/status\/1636608740513263617?ref_src=twsrc%5Etfw\\\">March 17, 2023<\/a><\/p>\n<\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\u201cMultisignature wallets are a simple and secure way of owning assets that can give you most of the benefits of self-custody,\u201d he wrote.<\/p>\n<\/blockquote>\n<p>Among the advantages of such a solution, Buterin noted the absence of personal liability for the entire security apparatus and the risks of losing funds in the event of a centralized structure collapse, \u201cwhich seemed trustworthy.\u201d<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\u201cI personally use a multisignature wallet to store the majority of funds, just like the Ethereum Foundation,\u201d he added.<\/p>\n<\/blockquote>\n<p>He also recommended conducting a test transaction with guardians at least once a year and selecting them based on one&#8217;s needs for reliability and speed of access to funds.<\/p>\n<p>In November 2022, Binance CEO Changpeng Zhao <a href=\"https:\/\/forklog.com\/en\/news\/changpeng-zhao-and-michael-saylor-call-for-self-custody-of-crypto-assets\">called for self-custody<\/a> of crypto assets amid <a href=\"https:\/\/forklog.com\/en\/news\/ftx-group-files-for-bankruptcy-sam-bankman-fried-resigns-as-ceo\">the collapse of FTX<\/a>. He was backed by former MicroStrategy head <a href=\"https:\/\/forklog.com\/en\/news\/michael-saylor-the-microstrategy-founders-biography-and-views\">Michael Saylor<\/a>.<\/p>\n<p>In December, Paxful&#8217;s CEO Ray Youssef <a href=\"https:\/\/forklog.com\/en\/news\/paxful-ceo-urges-self-custody-of-bitcoin\">advocated for self-custody<\/a> of Bitcoin instead of centralized exchanges.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum co-founder Vitalik Buterin urged self-custody of digital assets and wrote a Reddit post about choosing a multisig wallet.<\/p>\n","protected":false},"author":1,"featured_media":75793,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1142,1157,200],"class_list":["post-75792","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptography","tag-storage","tag-vitalik-buterin"],"aioseo_notices":[],"amp_enabled":true,"views":"16","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/75792","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=75792"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/75792\/revisions"}],"predecessor-version":[{"id":75794,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/75792\/revisions\/75794"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/75793"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=75792"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=75792"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=75792"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}