Trezor Has Seen ‘Significantly’ Higher Interest in Self-Custody Amid Ongoing Crypto Turmoil
Major hardware wallet maker Trezor said they have noticed higher interest in their devices following a string of crypto company meltdowns and centralized exchanges suspending withdrawals.
According to a company spokesperson, bitcoin (BTC) and crypto holders are “getting nervous about holding their coins with custodians and are exploring self-custody options.”
“As a result, we have seen a significant increase in interest in Trezor devices,” the company told Cryptonews.com, without providing specific numbers, explaining that they “don't share these internal data.”
That said, there is still work to be done in educating people about what it means to hold one’s coin on a crypto exchange, instead of being the only person able to access and control them.
Per Trezor,
“While the increase in interest is noticeable, most people still remain indifferent to the risk they face when holding their coins on an exchange. Our long-term goal, therefore, is to teach people the necessity of self-custody: if you don't control your own keys, you don't really own your coins.”
Meanwhile, Trezor’s rival and major hardware wallet maker Ledger did not reply to Cryptonews.com's request for comment.
Trezor's observations come, not simply during a particularly harsh crypto bear market, but also during the massive turmoil in which a number of centralized crypto companies have found themselves, struggling not to sink and drown.
In the fallout, we saw companies halt withdrawals and transfers, drawing criticism from their users and the wider community – but also dragging down related companies due to a resulting contagion. Perhaps most prominently, the troubled crypto fund Three Arrows Capital, crypto platform Voyager Digital, and most recently crypto lender Cels
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