Bitcoin self-custody advocate explains why on-ramps are key to adoption – Cointelegraph

Software developer Jameson Lopp believes improving usability and the user experience of Bitcoin (BTC) self-custody solutions and making more avenues to acquire BTC will be key in the further adoption of the preeminent cryptocurrency.

The co-founder of Casahodl, whos aprominent figure in the Bitcoin and cryptocurrency space, spoke of the challenges in building self-custody solutions in an exclusive interview with Cointelegraph journalist Joseph Hall ahead of Miami Bitcoin Week.

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Lopp has a wealth of experience as a developer building a range of services and products in the cryptocurrency space but has largely been focused on the self-custody of digital assets in recent years. Casahodl offers a range of BTC self-custody solutions and is set to provide Ethereum support in 2023:

Lopp speculated that users typically buy an entry-level amount of Bitcoin on an exchange and leave their holdings in the respective wallet. He questioned whether some users are even aware that they can actually manage their own BTC holdings in a self-custodial wallet:

Nevertheless, Lopp added that cryptocurrency custodian service providers like exchanges offer a level of convenience and usability through web applications that is more user-friendly to industry newcomers.There is a relatively low barrier to entry, with the only friction point being Anti-Money Laundering (AML) and Know Your Customer (KYC) requirements that many web users are becoming accustomed to.

Lopp added that the industry needs to create more on-ramps for people to acquire Bitcoin and drive economic activity with the cryptocurrency.He used the decentralized social media platform Nostr as an example of an ecosystem that has integrated the Bitcoin layer-2 Lightning Network protocol as a means to drive the use of BTC:

In countries like the United Kingdom, Bitcoin proponents and a range of industry leaders established a policy groupto foster education, investment, business and job creation for the ecosystem in April 2023.

Meanwhile, layer-2 infrastructure providers like Lightning have seen organic growth over the last year, with a steady increase in the amount of BTC locked up in Lightning channels.

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Bitcoin self-custody advocate explains why on-ramps are key to adoption - Cointelegraph