Hello guys,
Anyone having any clue on where and how are the crypto bought in Yuh stored?
They’re under custody of Swissquote, unless they (Swissquote) choose to use a third party for that, in which case it is none of your business to know which third party it is. They also mention that, by the way, they do not provide liquidity for trading and reserve the right to not execute the orders you pass regarding crypto assets.
The digital assets contract regarding crypto assets on a Yuh account is very enlightening, I would read it in full:
https://links.imagerelay.com/cdn/2958/ql/digital-assets-contract-and-risk-disclosure-en-v2
Swissquote are more open on their own website. They seem to be using BitGo and Coinbase, according to their FAQ:
https://en.swissquote.com/crypto-assets/faq
On a side note, I understand that Yuh targets a younger audience that doesn’t like to deal with legalese but their legal documents really reek of unprofessionalism which, well, is not something you do when the stakes are people’s money entrusted to you.
1 Like
I guess, somewhere on a distributed ledger / blockchain 
“crypto” (as in “coins”) is never stored somewhere per se. The only thing that represents “crypto / a coin” is information on a distributed ledger / blockchain. And the only thing to “access / manipulate” said information is a key. Thus, whoever is in possession of said key can “access / manipulate” the information on a distributed ledger / blockchain. BTW: You can start guessing keys here: https://keys.lol/
Maybe you’ve heard of “not your key, not your coin”? In other words: As long as you don’t own the key, you must trust a 3rd party in handling everything. If this is a good idea in a highly unregulated environment - that’s up to the user…
Quite sure they don’t actually purchase any bitcoin for you, probably just an index…
1 Like
Bitcoin or stocks or whatever: if you can’t transfer out your assets from the platform, it’s a toy, not a broker.
2 Likes