What are the fees associated with using onchain custodian for digital asset storage?

3 answers

• ALEYAH WHALENDec 30, 2022 · 3 years ago
  Sure! When it comes to using onchain custodian for digital asset storage, there are several fees to consider. Firstly, there is usually an initial setup fee, which covers the onboarding process and the creation of your custodial account. This fee can vary depending on the custodian and the amount of assets you plan to store. Additionally, there may be a monthly or annual maintenance fee, which covers the ongoing management and security of your assets. This fee is typically a percentage of the value of your assets. Finally, there may be transaction fees for any withdrawals or transfers you make from your custodial account. These fees can vary depending on the type and size of the transaction. It's important to carefully review the fee schedule provided by the onchain custodian to fully understand the costs involved before making a decision.
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• Imed ImedOct 24, 2021 · 4 years ago
  Ah, the fees associated with using onchain custodian for digital asset storage. Well, let me break it down for you. First off, you'll usually have to pay an initial setup fee. This covers the onboarding process and getting your custodial account up and running. The amount of this fee can vary depending on the custodian and the amount of assets you plan to store. Then, there's the ongoing maintenance fee. This fee is typically a percentage of the value of your assets and covers the management and security of your assets. Finally, there may be transaction fees for any withdrawals or transfers you make from your custodial account. These fees can vary depending on the size and type of the transaction. So, make sure you take these fees into account when considering onchain custodian for your digital asset storage needs.
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• Gibbs ThorntonSep 14, 2021 · 4 years ago
  When it comes to the fees associated with using onchain custodian for digital asset storage, it's important to understand that different custodians may have different fee structures. However, in general, you can expect to pay an initial setup fee, which covers the onboarding process and the creation of your custodial account. This fee can vary depending on the custodian and the amount of assets you plan to store. Additionally, there may be a monthly or annual maintenance fee, which covers the ongoing management and security of your assets. This fee is typically a percentage of the value of your assets. Finally, there may be transaction fees for any withdrawals or transfers you make from your custodial account. These fees can vary depending on the type and size of the transaction. It's always a good idea to carefully review the fee schedule provided by the onchain custodian to ensure you have a clear understanding of the costs involved.
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