How does the BlockFi wallet compare to the BlockFi interest account in terms of security?

1 answers

• HypnosufMay 14, 2024 · 2 years ago
  In terms of security, the BlockFi wallet and the BlockFi interest account have different approaches. The wallet is a self-custody solution, which means that users have full control over their private keys and funds. This gives users the ultimate responsibility for the security of their assets. On the other hand, the interest account is a custodial solution, where BlockFi holds users' funds on their behalf. BlockFi implements robust security measures, such as cold storage and multi-signature wallets, to protect users' funds. While the wallet provides users with more control over their funds, the interest account offers the convenience of earning interest without the need to manage private keys. Both options have their own advantages and trade-offs when it comes to security.
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