A Non-Custodial Wallet also referred to as a self-custodial wallet, puts the responsibility of storing your crypto wallet private keys in your hands.

Your crypto wallet private key is like the PIN number to your bank ATM card or the password to your online bank account.  With the PIN or password, you gain access to your fiat money and effectively own and control it.

If somebody gets a hold of your private key, they can not only claim ownership over your wallet assets, but they can also recover your wallet to their own device, access all of your funds, and easily transfer them out of your wallet and into another wallet they control.

With a non-custodial wallet, there is no bank or crypto exchange managing security for you.

You have complete control of your private keys and only you can confirm the funds in a crypto wallet belong to you as only you have access to them.

No 3rd party is involved in storing your keys for you. You’re all on your own!

Non-custodial wallets are considered more secure than custodial wallets because you have all of the control, and you don’t have to worry about a 3rd party, like a centralized cryptocurrency exchange, getting hacked.

Non-custodial wallets come in different variations, including web-based, software installed on a smartphone or computer, hardware devices like a USB thumb drive, or even your private key copied to a piece of paper.