What is a self-custodial Crypto Wallet?

Self-custodial crypto wallets give users complete control of their crypto assets and private keys. Custodial wallets are offered by a third party that stores your crypto assets on your behalf. These kinds of wallets are typically easy to use, but the big disadvantage is you don’t have full control over your assets.

What is a custodial Crypto Wallet?

Custodial and non-custodial crypto wallets allow you to hold and transfer digital assets by connecting to and interacting with a particular blockchain network. For instance, a software wallet like MetaMask can be used to connect and interface with the Ethereum blockchain, whereas Solflare is specifically designed to connect to Solana’s blockchain.

Should I self-custody my crypto assets?

When self-custodying your crypto assets, no third-party will have access to your wallet’s private keys. Not even the wallet provider. Self-custodying requires a greater degree of technical know-how than exchange-provided custodial wallets, so there may be a slight learning curve involved.

Is Trust wallet a good place to start self-custodial wallets?

If complete control over your crypto assets sounds like something you’d be interested in, then Trust Wallet is a great place to start self-custodial wallets. Crypto is maturing, and more people are developing their blockchain skills and taking control of their assets.