What is a crypto custodial wallet?

Crypto.com’s custodial wallet, the Crypto.com App, securely holds users’ data and assets, taking many measures to ensure the protection of customer funds . A non-custodial wallet, or self-custody wallet, is where the crypto owner is fully responsible for managing their own funds.

What is the difference between a custodial and a non-custodian wallet?

Our guide to custodial vs non-custodial wallets can help. For a custodial wallet, a third party takes custody of the private key instead of the crypto owner. For a non-custodial wallet, the crypto owner holds their own private key and, therefore, their funds.

Who controls a crypto wallet?

The key defining characteristic between a custodial and non-custodial crypto wallet is who ultimately controls the private keys to it. A private key is the critical piece of information needed to prove who owns the wallet and, most importantly, the funds inside. Whoever holds the private key controls the wallet.

How do I choose a crypto custodial platform?

Make sure you do your due diligence, not just on the digital assets themselves, but on how to handle them safely in this new world of connected crypto. Both custodial and non-custodial platforms have their pros and cons. Do your own research and consider your specific personal needs before choosing the best one.