About this episode
Demystifying Digital Wallets and Key Management In this episode of Old Men New Money, Douglas Borthwick addresses the fears traditional investors have about digital securities, specifically focusing on private keys and digital wallets. He explains the importance of digital wallets, how custody works, and why security tokens offer safety advantages over pure cryptocurrencies. Douglas clarifies key concepts such as hot and cold wallets, seed phrases, and multisignature wallets, providing insights on the security and practicality of each option. He also discusses the regulatory landscape for digital asset custody, the role of custodians, and the future developments in the field. Key takeaways include understanding the critical nature of seed phrases, practicing wallet setup, and considering custodial versus non-custodial solutions. 00:00 Introduction to Digital Securities 00:51 Understanding Digital Wallets 03:21 Hot Wallets vs Cold Wallets 05:47 The Importance of Seed Phrases 07:00 Custodial vs Non-Custodial Wallets 09:31 Multisig Wallets for Institutional Custody 10:25 Common Mistakes and Best Practices 11:32 Popular Wallet Options 12:45 Regulatory Perspective on Custody 14:53 Future of Digital Custody 16:04 Practical Steps for Secure Custody 16:58 Conclusion and Next Steps Get full access to Bitcoin, Blockchain and Tokenization at oldmennewmoney.substack.com/subscribe