Glossary - ChicksX

Non-Custodial Wallet is a type of cryptocurrency wallet where the user retains full control over their private keys.

Non-Custodial Wallet is a cryptocurrency wallet that allows users to have complete control over their private keys and funds. Unlike custodial wallets, where a third party holds the keys, non-custodial wallets ensure users are solely responsible for managing their assets. This provides enhanced security and privacy, as funds cannot be accessed or frozen by intermediaries. However, it also means users must securely store their keys. If lost, access to their cryptocurrency is permanently gone. Non-custodial wallets are preferred by those who value independence and control over their digital assets.