Crypto executives debate if self-custody was designed for beginners

Crypto executives are divided on whether self-custody was intended for beginners; Safe Labs CEO Rahul Rumalla said self-custody was "always meant for everyone," while Onramp CEO Michael Tanguma stated, "Self-custody was never designed with newcomers in mind." Approaches like multisignature wallets and seedless backups present trade-offs, with multisig adding complexity for beginners, and seedless wallets requiring users to safeguard physical devices, as confirmed by Tangem. Recent security incidents involving Ledger and Coldcard have highlighted weaknesses in hardware wallets, despite their recommendation for offline key storage.