What are non-custodial wallets?

[FunexCoin]

IT isn’t a term that rolls off the tongue,
however, the meaning is very simple once you understand it.

Non-custodial means that there is no custodian; the user is the only person who has access to the funds.

#cryptowallets #blockchain

[Findingnemo]

IT isn’t a term that rolls off the tongue,
however, the meaning is very simple once you understand it.

Non-custodial means that there is no custodian; the user is the only person who has access to the funds.

#cryptowallets #blockchain

Very basic explanation, I expected a bit more informative if you decided to start a thread about non custodial wallets. Anyways already there are lot more informative threads available about the difference in the crypto wallets in Beginners & Help section and also with some examples.

[blockman]

That's right, basic, easy, and simple. A perfect example of a custodial wallet is if you have an exchange account and you're using the wallet there.
That means that you're using a custodial wallet and you have no access to the private keys but only the exchange that's holding your fund. And it is the reason why you see people telling the newbies that don't leave most of their funds in an exchange if you're going to use them as your main wallet of storage.

[Bitcoin_Arena]

IT isn’t a term that rolls off the tongue,
however, the meaning is very simple once you understand it.

Non-custodial means that there is no custodian; the user is the only person who has access to the funds.

It's sad that you had to copy this text from somewhere else and didn't even give any credit. Are you aware that plagiarism is against the rules of this forum and can lead to a permanent ban?

Source: https://www.exodus.com/news/custodial-vs-non-custodial-wallets