A cryptocurrency custodian is almost under all circumstances a normal business or corporation. They offer you a platform like a website or an app to make buying, selling, and holding cryptocurrencies as easy as possible. This is the trade-off. A very easy and user-friendly experience, for a not so tech savvy person. They provide this service, which ultimately gives them full control over your crypto. This for arguably the vast majority of the population is actually a more ideal situation. The user can have peace of mind if anything happens like hackers or other technical issues. Unless of course the company does something illegal, nefarious, is just poorly managed, or just plain incompetent.

That being said a more hardcore knowledgeable crypto user would say…

You should never leave control of your crypto to anyone but yourself.

NOT YOUR KEYS NOT YOUR CRYPTO

Is the common phrase.

Some major Custodians

1. Coinbase.com
2. Crypto.com
3. Binance
4. Bittrex