The Bitcoin whitepaper promised a way for us to transact without the need for trusted third parties. Unfortunately, many bitcoin users fail to take advantage of this feature and still keep their funds with custodians. Those who do take custody of their funds find the journey fraught with peril and footguns.
Conservative estimates suggest that millions of bitcoin have been lost over the years by holders who did not take proper care of their keys, while millions more have been stolen due to security weaknesses. It’s important that Bitcoin users are confidently able to be their own banks, both to increase the security posture of each user and to increase the robustness of the entire ecosystem so that it does not evolve into another network of custodians who hold all of the money and power.