What is Non custodial wallet and Custodial wallet
When it comes to the cryptocurrency ecosystem and the blockchain at large, we all should knows that knowing about some basic needs in the cryptocurrency ecosystem and the blockchain at large will help to drive your cryptocurrency knowledge and activities to a more prominent height. This is something that is needed to be put into a more important consideration. There is nothing sweeter than seeing you boasting about that you knows 90% of the business that you are doing being it cryptocurrency project or any other related business out there. The message that I am trying to pass out here is that once you are in the cryptocurrency ecosystem you should knows that they are basic needs that is needed in other to put into consideration when it comes to cryptocurrency ecosystem and the blockchain at large. When all these needs are being put into consideration, you will see yourself doing amazingly well in the cryptocurrency ecosystem and the blockchain at large. Once again, drawing your attention to what I mentioned above, we surely needs to set such system in place before you can even boast of doing amazingly well in such ecosystem.
.jpeg)
When it comes to the cryptocurrency ecosystem and also when it deals and relates to the blockchain at large we all should knows that they are a lot of things that we all needs to learn deep down the line if for sure we wanted to grow in the cryptocurrency ecosystem and the blockchain at large that we claimed we love. Discipline is one thing that you should never deals without, it is with such task and act that will help to drive your cryptocurrency mindset to a more prominent people that will show you what you for sure needed to do in other to see your self scaling positively well in the cryptocurrency ecosystem and the blockchain at large. Once you are educated and discipline at same time you will see and discover that the learning curve that is needed to scale in the cryptocurrency ecosystem and the blockchain at large is simple. Deviating from all these numerous talk and hitting the nail at the head we can say that Non custodial wallet and Custodial wallet has become something that we all should make sure that we are educated about. It will helps you in a lot of ways. So the big question at hand right now is what gives birth to what Non custodial wallet and Custodial wallet is today.
.jpeg)
If you have been following up with what is happening in the cryptocurrency ecosystem you will see that we have wallet. It is this wallet that gave birth to what we called custodial and non custodial wallet. Custodial wallet are wallet that sees your cryptocurrency tokens being held and controlled by a third part. What I mean is that your asset are being controlled not by you. You will see an exchange platform like Binance, Hotbit etc controlling your cryptocurrency token the moment that you deposit your token into their platform. They will never for any moment shares you your cryptocurrency secret phrase. They will control your token the way that they loved and for sure you won't be able to have impact or say in your cryptocurrency asset if issues arises you might be in trouble. This is one discouraging aspect that people don't love about the Custodial wallet at all.
The opposite of the Custodial wallet is what we called Non custodial wallet. What this wallet does is that it gives you full access to your cryptocurrency holdings. Since it comes to Non custodial wallet, you should knows that you have say over what you are doing, this is simply holding to the very fact that you have the phrase to the account that you are controlling. If you are using cryptocurrency wallet like the Metamask wallet, Trust wallet, Token pocket wallet etc you will discover that you are given full custody over your account. Since you have say and control over your account it means that you are safe if issues arises at time. The password to controls the account everything will be giving to you as you will have 100% say over such account.
I will end the post here, have a nice day.
Posted Using LeoFinance Alpha