Custody
By Cryptomcmillan1 | Updated on May 24, 2020
In the context of cryptocurrency, a "custodial" asset means an asset is placed under the care of a third party. This is similar to how banks have custody over their customer's funds. A Custodial Wallet refers to a wallet whose private key management falls under the care of a company. Examples of Custodial wallets include Coinbase, Nexo and other wallets where users do not have access to their private keys.
Related Terms
Open/Close
The price at which a cryptocurrency opens at a time period, for example at the start of the day; the price at which a cryptocurrency closes at a time period, for example at the end of the day.
PFP
It means both 'profile pic' and 'picture for proof'.
Gas Limit
A term refers to the maximum amount of units of gas user's willingness to spend on a transaction on Ethereum blockchain.
Total Value Locked
Total Value Locked (TVL) represents the number of assets that are currently staked in a protocol or the total quantity of underlying amount of funds that a DeFi protocol has secured.
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