Non-Custodial vs Custodial Wallets
Most crypto wallets tend to be custodials. Typically offered on exchanges, custodials are known for their convenience as users trust the service to securely store their tokens and implement security measures to prevent unauthorised access.
Non-custodials on the other hand, allow you to retain full control as the private key is stored locally with you. When starting a non-custodial, you will be asked to write down and store a list of 12 randomly generated words, known as a ‘recovery’, ‘seed’, or ‘mnemonic’ phrase.
From this phrase, all of your public and private keys can be generated. This acts as a backup mechanism in case you lose access to your device.
Follow us for more!
Platforms: http://linktr.ee/voxto.amplify
#VoxtoKnows #blockchain #cryptocurrency #Ethereum #cryptowallet #FollowVoxto
Ignite Media
Telegram|Channel|Twitter|Medium|FacebookGroup|
