In a recent talk, Matthew Kratter makes the case correctly that we should stop using the term “custodial,” as this is the language that helps the legacy system define self-custody or their term “unhosted” to suggest that owing your own property is somehow not normal or acceptable.

He goes on to say that we should simply call anything where we don’t hold our own keys an account, the same as a bank. But what should we call a “wallet” (also an inaccurate word) where we directly own the asset? I still haven’t found the best way to say it.