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Why Crypto Lovers Prefer Non-Custodial Wallets for their Crypto Assets
Non-custodial wallets have become popular over the years since they offer crypto users total control over their crypto holdings. In this case, users do not need a third party to help them manage their wallets or perform any activity they may need with their wallets.
Notably, rampant cases of cyber-attacks on crypto exchanges have been attributed to a sharp demand in non-custodial wallets Worldwide. Most investors are now finding it easier to manage their crypto portfolio thanks to the advent of non-custodial wallets.
Further, non-custodial wallets offer better security features compared to custodial wallets. This is because custodial wallets are managed on exchanges which are a prime target for hackers. As such, non-custodial crypto wallets have limited chances of being hacked.
Here is what makes non-custodial wallets appealing to most investors.
Better Safety Features
Non-custodial crypto wallets come with better safety features compared to custodial wallets. This is because while custodial wallets are managed by various crypto exchanges, non-custodial wallets give users total control over their crypto holdings. As such, chances of being hacked through are minimal compared to non-custodial wallets. That said, if you are new to crypto and worried about the safety of your investment, you can opt for a non-custodial wallet to secure your holdings.
Easy access
Depending on the type of technology provider you can choose to store your crypto holdings, non-custodial wallets make it easier to have total control over your investment. That way, you can access it as you wish without relying on a third party. In other words, users have direct control over their funds and are not answerable to any individual in how they manage their wallets.
Free from hacking
Unlike custodial wallets which are prone to hacking, non-custodial wallets make it difficult for hackers to hack through. This is because hackers target exchanges due to the high traffic they command from various crypto investors. An example of such a wallet is the Defix wallet.
While it may be challenging to retrieve access keys should you lose them, non-custodial wallets guarantee better safety for your holdings than custodial.
Easy to manage your portfolio
Non-custodial wallets come with advanced features that may not be available on most crypto exchanges. In addition to converting your digital currency to an asset of your choice, non-custodial wallet users can easily manage their crypto portfolio straight from their mobile devices. This gets rid of the need for third-party platforms to help you manage your trades.
Everything is centralized coupled with important trading insights that you may need to improve your trades. Therefore, you not only improve your trading portfolio but also increase your chances of generating more income from your trades.
Conclusion
Although there are various types of crypto wallets available in the world of crypto, researching to ascertain a suitable wallet that fits your crypto portfolio is important.
With rampant cases of fraudulent exchanges and increasing cyber-attacks on various platforms, custodial crypto wallets have been touted as a perfect alternative. It is against this backdrop that we recommend Defix wallet for your crypto holdings.
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Why Crypto Lovers Prefer Non-Custodial Wallets for their Crypto Assets was originally published in The Capital on Medium, where people are continuing the conversation by highlighting and responding to this story.