At the same time we shouldn't also ignore that self-custody comes with its own challenges, I mean we heard and seen cases where people lose their wallets and their seed phrases. Buut even with those risks, one thing is still certain which is that once you give up your keys, you have given up your control. To me, that’s enough reason to say "YES to self-custody, and NO to custodial platforms."
One of the important but highly overlooked advantages of self-custody is privacy and freedom. You benefit a lot when nobody knows how much you are worth, spend, or receive. The freedom to use your money the way you want is another big advantage.
There are basic security procedures that will make your journey as a self-custodian easy. Your seed phrase is like your safe, it should be handled carefully. It is advisable to write it on a water
or fireproofand fire proof material and keep it in different safe locations.
Keeping your money in an exchange is going back to the traditional banking era. It should solely be used for exchange and nothing more.