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Self-custodial/non-custodial wallet

What is a self-custodial wallet?

Last updated on June 6, 2022

A self-custodial or non-custodial wallet is a digital wallet that is controlled by only the people who know its private key/ seed phrase.

Every self-custodial wallet will give you a 12-word/ 14-word phrase, which act like the "password" to your wallet. When you input these words to that wallet, you gain access to your assets.

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On the other hand, custodial wallets don't employ the concept of seed phrases. They have full access to your wallet. These wallets are central exchange accounts like Coinbase, Gemini and Binance.

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Learn more about self-custodial wallets

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