Custodial services is one area where the BTC community is sorely lacking.
Typically you can safely work with an independent financial advisor as your money is stored with a custodian like fidelity. Fidelity is on the hook to make basic tax reports, account statements, and provide security for your funds. Obviously a part of that security is controlling transfers and not dealing with dubious business partners.
I can’t point to any vault where my money is stored, but I can reasonably bet that fidelity has enough safeguards that it won’t vanish. I wish there were more such custodians for btc assets providing “cold wallets”. BTC makes audits and other activities to verify nothings gone odd with the custodian for your and everyone else’s accounts without requiring privileged access to the ledger.
Paying .05% for the price large of not having your btc vanish is a bargain.
Typically you can safely work with an independent financial advisor as your money is stored with a custodian like fidelity. Fidelity is on the hook to make basic tax reports, account statements, and provide security for your funds. Obviously a part of that security is controlling transfers and not dealing with dubious business partners.
I can’t point to any vault where my money is stored, but I can reasonably bet that fidelity has enough safeguards that it won’t vanish. I wish there were more such custodians for btc assets providing “cold wallets”. BTC makes audits and other activities to verify nothings gone odd with the custodian for your and everyone else’s accounts without requiring privileged access to the ledger.
Paying .05% for the price large of not having your btc vanish is a bargain.