Is Okto a self-custody or centralised wallet?
Updated
Okto is a decentralized self custody wallet that prioritizes security and user control.
To know more about self custody, you can read our article:
Unlike traditional platforms where the custody of user's funds are with the platform, Okto gives the user complete control over their funds and transactions. This prevents loss of funds due to theft or hacks in traditional platforms.
To help the user to secure his funds, Okto leverages MPC technology which divides the private key in multiple shards with the main shard custody with the user. This avoids a single point of failure and loss of funds. Users should create a backup of their recovery file to secure their Defi experience:
