Non-custodial Wallets

Non-custodial wallets empower users to hold the ownership and private keys to themselves. There are no intermediaries in non-custodial wallets, which enables traders to exchange crypto assets directly from their crypto wallets. It is best suited for seasoned traders who understand the methods to keep their private keys and seed phrases secure.

A trader needs a non-custodial wallet while trading through a decentralized exchange. However, as a backup mechanism, it requires users to write down a recovery phrase consisting of 12 randomly generated words. If users lose their private keys, they can regain access to them. Hardware wallets are a type of non-custodial wallet.