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Ask about control in plain language
Request an explanation of who controls the relevant credentials, who can authorise movements and which entity provides custody if custody is part of the service. Ask how that relationship appears in the agreement and account records. Do not infer custody arrangements from a wallet icon. The answer should let you explain whether you are operating your own asset access or using a provider-managed service and which responsibilities follow from that specific setup.
Evaluate recovery as carefully as access
Ask about account recovery, lost-device support, disputed instructions and withdrawal processes. Identify official support channels and information the provider will never request. Keep recovery arrangements private and follow the applicable provider guidance. Your evaluation should include whether another authorised person in the business can understand the operational process without being given sensitive secrets informally. This is a question about governance and continuity, not a claim that any particular custody model removes all risk or suits every user.
Hypothetical example
A hypothetical two-person company evaluates a wallet service before using it for operations. The founders ask who can authorise movements and how access survives a lost phone. They document the approved process, avoiding a setup that relies entirely on one person's memory and an undocumented recovery arrangement.
Make it practical.
Use this checklist as you read. Checks are not stored.References & further reading
Background reading — European Supervisory Authorities: crypto-asset consumer warning ↗Published by Tap Tap Go. Product availability and eligibility vary by programme and market. About our stories.
