Non-custodial refers to a type of cryptocurrency wallet or service where the user has full control and ownership of their private keys. This means that the third party provider does not have access to or control over the user’s funds.
In a non-custodial wallet, the user is responsible for securely storing their own private keys, which are used to access and manage their cryptocurrency. This gives users greater security and autonomy over their funds, as they are not relying on a third party to hold or protect their assets.
Non-custodial wallets are often favored by those who value privacy and security in their cryptocurrency transactions. It eliminates the risk of funds being frozen, stolen, or mismanaged by a centralized entity. Users can access their funds at any time without needing permission from a third party.
Overall, non-custodial wallets are seen as a safer option for storing and managing cryptocurrency, as they give users full control over their own assets.
