Cryptocurrency is a popular term these days, and you must have heard about crypto wallets. As the advancement of technology is taking place, many new things are getting introduced every day. For cryptocurrency, there are various types of wallets available in the market, major of them are custodian wallets and Non-custodial wallets. There is always a dispute between custodian & non-custodial crypto wallets, but in the marketplace, there are more non-custodial wallets than custodian wallet providers. Non- Custodial wallets are considered to be the safest crypto wallets and they are multifunctional wallets. In this article, we are going to understand what a non-custodial wallet is and is a non-custodial wallet safe or not.
What is a non-custodial wallet?
Non-custodial wallets are also called decentralised wallets. This kind of wallet provides users complete control over the funds and the accounts. The user owns the wallet’s public and private keys which is the most advantageous thing about the non-custodial wallet. Metamask, Exodus, Funex, Trust, Binance wallet, etc. are some of the popular cryptocurrency wallets that are available in the play store, iOS, and other platforms. There are numerous benefits of opting non-custodial crypto wallet for storing cryptocurrency.
Benefits of Non-custodial wallet
Security : While choosing a wallet for keeping any digital asset security is a major concern and significant element. That is why non-custodial wallets are considered the safest crypto wallet because they are owned and governed by the user. Each wallet address is dedicated to the user and no one can sneak into your wallet.
Privacy : Data privacy is a major thing a user wants because, at the current time, many platforms are using users’ data for fraud and other things. It is the best thing that non-custodian wallets don’t ask for any kind of KYC verification or any kind of document. It just provides a wallet address which can’t be identified by anyone which means the user name will be anonymous.
Control over funds : With decentralised or non-custodial wallet users get complete control over their funds which means for any transaction they do not need any third party to get the confirmation or verification.
Private Key : Private Key is very important for any crypto wallet user. It is generally used to keep a wallet safe and with the help of a private key users can restore their wallet if the wallet gets collapsed.
No intermediatory : As we mentioned above, the non-custodial wallet is decentralised which means it is not managed or governed by anyone. Every user has control of their own wallet.
Quick and Simple: In this kind of wallet there is no involvement of a third person to verify a transaction or any kind of activity in the wallet that’s why the transaction gets completed very quickly. Because of its decentralised nature, users find it simple to use a crypto wallet.
Best non-custodial wallet- Funex pro
Funex pro wallet is a well-known and trustworthy crypto wallet which offers several advantages to its users. It is also one of the best crypto wallets for crypto holders no matter if they are beginners or professionals. Funex is a revolutionary crypto ecosystem which has gained a lot of popularity in minimum time. Funex pro is a product of the Funex club which also has a few other products for crypto enthusiasts.
Funex pro wallet has been part of the crypto world for a long time and doing well. It has a large number of followers and a huge community of crypto enthusiasts. It is now making itself better and bigger with a few advancements like gaming, metaverse, NFTs and so on. You can download the Funex pro wallet app from the play store, or iOS store.
This is all about the non-custodial app and how it is better & beneficial than the custodial wallet. You’ll get so many options in the decentralised wallet. In terms of security and privacy non-custodial wallets are the best option for storing crypto coins. You can check Funex Pro non-custodial wallet for keeping your cryptocurrency safe and it is a great blockchain wallet which is quick and easy to use.