The Annual Meeting of The Membership will be held on Tuesday, April 23, 2024, at 5:00 p.m. CST.

March 05, 2024

What is a Crypto Custodian?

Cryptocurrency purchased through our Crypto Portal is held with a regulated and qualified custodian. Etana Custody is the qualified custodian that holds your cryptocurrency. 

In the world of cryptocurrency and decentralized finance, the security and protection of digital assets is incredibly important. With the rise in popularity of cryptocurrencies, the need for reliable custodians that can safeguard these assets has become paramount. 

What is a Custodian? 

A custodian refers to a trusted third-party entity that assumes the responsibility of safeguarding and managing digital assets on behalf of individuals or institutions. Custodians play a crucial role in ensuring the security and protection of cryptocurrencies, as they are responsible for the safekeeping, storage, and management of the private keys associated with these assets.

Custodians typically offer services such as secure storage of private keys, multi-signature wallets, offline or cold storage solutions, and risk management protocols. They employ various security measures, including physical vaults, encryption techniques, and robust authentication processes, to protect against theft, hacking, or unauthorized access.

In addition to security, custodians also offer services that facilitate institutional-level compliance and regulatory requirements. This includes supporting Know Your Customer (KYC) procedures, Anti-Money Laundering (AML) compliance, and reporting obligations to regulatory authorities.

Regulated custodians are the safest, most secure, and most reliable way to hold digital assets. 

This information is for educational purposes only, is believed to be accurate at the time of publication, and should not be construed as investment advice. Digital assets (i.e. cryptocurrencies) held in your digital asset account (i.e. crypto account) are not federally insured by any government entities, including, but not limited to, NCUA. The digital assets offered may be heavily speculative and volatile; involve investment risk; may have associated fees; may not allow member recourse; and are being offered by a third party. Your digital account does not support wallet-to-wallet transferring of your digital assets (i.e. cryptocurrencies). You should carefully consider whether buying or holding digital assets is suitable for you in light of your financial condition. Digital assets are not obligations of WeStreet and are not guaranteed by WeStreet. For additional terms and conditions governing your digital asset account, please refer to our Crypto Terms and Conditions.