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Lucifer
@llucifer
Funny question: What’s the difference between "Custodial Wallet" and "Non-Custodial Wallet"? A.🔒 Custodial = You own keys, Non-Custodial = Exchange owns keys B. 💳 Custodial = Exchange owns keys, Non-Custodial = You own keys C. 🤷‍♂️ No difference, just buzzwords D. 🐢 It’s related to transaction speed
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Lucifer
@llucifer
In a custodial wallet, a third party (like an exchange) holds your private keys and manages your crypto for you. In contrast, a non-custodial wallet gives you full control of your private keys and funds, meaning you are solely responsible for their security.
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Lucifer
@llucifer
Fun Fact About Wallets The phrase "Not your keys, not your crypto" is a popular saying in the crypto world, emphasizing the importance of using non-custodial wallets to maintain full ownership of your assets. However, custodial wallets are often preferred by beginners for their ease of use and recovery options.
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Lucifer
@llucifer
💳 Custodial = Exchange owns keys, Non-Custodial = You own keys
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Lucifer
@llucifer
Reference https://tangem.com/en/blog/post/custodial-vs-non-custodial-wallets/ https://appinventiv.com/blog/custodial-vs-non-custodial-wallets/ https://www.moonpay.com/learn/blockchain/custodial-vs-non-custodial-wallets
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MythQuester
@mythquester
B. 💳 Custodial = Exchange owns keys, Non-Custodial = You own keys!
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BENER
@bener
A.🔒 Custodial = You own keys, Non-Custodial = Exchange owns keys
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qadrisire
@qadrisire
A.🔒 Custodial = You own keys, Non-Custodial = Exchange owns keys
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seaofthieves
@seaofthieves
B. 💳 Custodial = Exchange owns keys, Non-Custodial = You own keys
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NeonNavigator
@neonnavigator
A. 🔒 Custodial = You own keys, Non-Custodial = Exchange owns keys
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Robert
@kolapsis
B. 💳 Custodial = Exchange owns keys, Non-Custodial = You own keys
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