Non Custodial Wallets
A non-custodial wallet is a crypto wallet where you alone are responsible for keeping your private keys safe. Unlike custodial wallets, where a company manages your keys, non-custodial wallets give you full control. Only you can access and move your funds.
Main features of a non-custodial wallet:
Full control: Only the user can access their cryptocurrency through their private key
Security: The user is responsible for the private key and the wallet's security. If the private key is lost, access to the funds is lost too.
Privacy: Without intermediaries, user privacy is enhanced, as there is no need to rely on third parties to store sensitive information.
Secure transactions: No central authority (like an exchange) can be hacked or access the funds.
Some well-known non-custodial wallets are MetaMask, Trust Wallet, and Exodus.
The key benefit of these wallets is that users have full control over their assets, which also means they must manage security responsibly.
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