Difference Between Custodial And Non- Custodial Wallets

[Ridam 7455]

23 hours ago, Keep Going said:

 For a drawn out coin holding reason, non-custodial wallet for example Trezor T has consistently been my best wallet. Some product wallets like Trust wallet, Nuclear wallets are additionally acceptable to hold a few monetary standards on cell phones.

Hardware wallets are defenietly the best choice for holdings. There is a hardware wallet from Binanace too. And it's cheaper than Tezor Wallet if anyone wants to save some bucks. 

I haven't used nucleae wallet yet, but if it's non- custodial it must be ok for mid term purposes.

[Rida nasir 801]

Custodial wallets are those that owns your private keys they will keep your keys so you will not loss them .But keeping private keys causes trust issue and on the other hand non custodial do not concern about the keys private keys are kept on your device it may be phone tab, pc.

[Rida nasir 801]

Custodial wallets are those who keeps private keys of users and user cannot loss them if as server keep its record but they are at the risk of hacking and non custodial are those which do not keep private keys they are much secure then custodial.

[Shoail 218]

Blockchain wallet Custodial wallet and Hardware wallet  and Software wallet is Non- Custodial wallet.custodial wallet  which do not provide any private key its user but custodial gave key to its user

[UsmanMehmood 374]

Coustodial wallet:

While using it You are not given a user key to acess your In this case you have to trust the company completely.

Non-Coustodial wallet :

This is the absolute opposite of the Custodial wallet , in which you are given your user key and you can access your account. 

[Sapna kanwal 118]

I prefer to use non custodial wallets because they provide me private key thats why i like them .With private key my currencies are secure no one else can get into my account only me can using my ptivate key .

[Soykot6 3]

Yeah Al that sounds pretty crap to me, Looks like BT aint for me either

   Non-Codel Ballet Strong Ballet Witch provides it in the user's personal case.  I think so

[zohaib15 6]

A custodial wallet is a sort of advanced wallet which keeps a client's hidden keys and gives reinforcement and security to your resources.

A non-custodial wallet is a decentralized kind of wallet, where the client possesses its private keys.

[Bitpapacoins 61]

On 1/8/2021 at 5:52 PM, Amna Muskan said:

Custodial wallet implies it can store private key and noncustodial wallet implies it can not store private key on the grounds that custodial wallet is secure and safe and you can undoubtedly utilize it. yet, non custodial wallet isn't free from any danger wallet and it is hard to utilize it

@Amna Muskan  You are not getting it right, noncustodial wallets are the wallets that generates private key, while custodial wallets like coinbase and freewallets are wallets that do not give private key to users. So it is other way round. 

 

[Ibnbakr 24]

The main problem with custodial wallets is that they are not private. Where by Non-custodial wallets are the ones that let you hold and manage your cryptocurrency and do not own your private keys.

[Hasnain Afzal 102]

Hello my dear friends, 

I have not use these wallet becouse i have not know about these wallet .And thanks my friends for giving me information about these wallets .this information is very important for me .best of luck my all friends. 

[Umair12345 127]

These wallets basically divided by their working capability. The custodial wallets means they do not have private keys and your money would be store in this wallet on the company trust behalf

The non custodial wallets provide you the private key where you can store your money with the security.

[Waniya 87]

Well custodial wallets are those in which no private keys are provided to the user and in case if custodial wallets are attacked may be then there is a chance that it can effect your money and I case of non custodial wallets private keys are provided but there are chances that one can get your keys and hack your account