Which type of wallet, custodial or non-custodial, is more secure for storing digital assets?

1 answers

• Dec 16, 2021 · 3 years ago
  At BYDFi, we believe that non-custodial wallets offer the highest level of security for storing digital assets. With a non-custodial wallet, you are the sole owner of your private keys, which means you have complete control over your digital assets. This eliminates the risk of a third party mishandling or losing your assets. While custodial wallets may offer convenience, they also introduce a higher level of risk. If the custodial wallet provider gets hacked or goes bankrupt, your assets could be at risk. With a non-custodial wallet, you have the peace of mind knowing that you are in full control of your assets' security. We recommend choosing a non-custodial wallet and taking the necessary steps to secure your private keys, such as using hardware wallets or following best practices for digital asset security.
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